Key Points
- Director Paul Corr sold 2,550 shares of Espey Mfg. & Electronics stock on June 23 at an average price of $65.89, totaling about $168,019.50. After the sale, he still owned 20,439 shares, a reduction of 11.09% in his position.
- The company recently beat earnings estimates for its fiscal quarter, reporting $0.99 per share versus the expected $0.88. Revenue came in below forecasts at $11.42 million compared with $13.20 million expected.
- Espey paid a quarterly dividend of $0.25 per share, or $1.00 annualized, for a yield of about 1.5%. The stock has also been given a Hold rating after a downgrade from Freedom Capital.
Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) Director Paul Corr sold 2,550 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $65.89, for a total value of $168,019.50. Following the transaction, the director owned 20,439 shares of the company's stock, valued at approximately $1,346,725.71. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Espey Mfg. & Electronics Price Performance
ESP opened at $66.06 on Friday. The business's 50-day moving average price is $63.65 and its two-hundred day moving average price is $56.71. Espey Mfg. & Electronics Corp. has a 1 year low of $36.00 and a 1 year high of $74.77. The company has a market capitalization of $198.18 million, a price-to-earnings ratio of 17.43 and a beta of 0.36.
Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $11.42 million during the quarter, compared to analysts' expectations of $13.20 million. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.
Espey Mfg. & Electronics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.5%. Espey Mfg. & Electronics's dividend payout ratio is 40.82%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in shares of Espey Mfg. & Electronics by 3.2% during the 4th quarter. Renaissance Technologies LLC now owns 103,312 shares of the company's stock worth $4,869,000 after purchasing an additional 3,247 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Espey Mfg. & Electronics by 4.3% in the third quarter. Vanguard Group Inc. now owns 93,577 shares of the company's stock valued at $3,707,000 after buying an additional 3,833 shares in the last quarter. De Lisle Partners LLP increased its holdings in Espey Mfg. & Electronics by 9.4% during the fourth quarter. De Lisle Partners LLP now owns 56,247 shares of the company's stock worth $2,664,000 after buying an additional 4,822 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Espey Mfg. & Electronics by 74.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 26,923 shares of the company's stock worth $1,269,000 after buying an additional 11,453 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Espey Mfg. & Electronics during the third quarter worth $1,047,000. Institutional investors and hedge funds own 36.65% of the company's stock.
Analysts Set New Price Targets
Separately, Freedom Capital downgraded shares of Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".
Get Our Latest Stock Report on ESP
About Espey Mfg. & Electronics
(
Get Free Report)
Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company's core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.
Espey's sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.
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