Key Points
- Director Carl Helmetag sold 1,000 shares of Espey Mfg. & Electronics at an average price of $63.66, totaling $63,660. After the sale, he still held 23,169 shares, a 4.14% reduction in ownership.
- ESP shares were trading higher on Friday, opening at $67.12, near both its 50-day moving average of $63.70 and above its 200-day moving average of $56.78. The stock has ranged from a 52-week low of $36.00 to a high of $74.77.
- The company recently posted mixed quarterly results, with EPS of $0.99 beating estimates of $0.88, while revenue of $11.42 million fell short of the $13.20 million consensus. Espey also paid a quarterly dividend of $0.25 per share, equal to a 1.5% annualized yield.
Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) Director Carl Helmetag sold 1,000 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $63.66, for a total transaction of $63,660.00. Following the sale, the director owned 23,169 shares in the company, valued at $1,474,938.54. The trade was a 4.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Espey Mfg. & Electronics Trading Up 1.6%
ESP stock opened at $67.12 on Friday. The company's 50-day moving average price is $63.70 and its 200 day moving average price is $56.78. Espey Mfg. & Electronics Corp. has a 52 week low of $36.00 and a 52 week high of $74.77. The company has a market cap of $201.36 million, a P/E ratio of 17.71 and a beta of 0.36.
Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.11. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%. The company had revenue of $11.42 million during the quarter, compared to analysts' expectations of $13.20 million.
Espey Mfg. & Electronics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics's payout ratio is 40.82%.
Institutional Trading of Espey Mfg. & Electronics
A number of hedge funds have recently bought and sold shares of ESP. Lazard Asset Management LLC acquired a new position in Espey Mfg. & Electronics in the 1st quarter valued at $331,000. Sei Investments Co. purchased a new stake in shares of Espey Mfg. & Electronics in the first quarter valued at $1,384,000. Ritholtz Wealth Management increased its stake in Espey Mfg. & Electronics by 35.2% in the first quarter. Ritholtz Wealth Management now owns 24,085 shares of the company's stock valued at $1,335,000 after purchasing an additional 6,277 shares during the last quarter. XTX Topco Ltd increased its stake in Espey Mfg. & Electronics by 12.7% in the fourth quarter. XTX Topco Ltd now owns 5,871 shares of the company's stock valued at $277,000 after purchasing an additional 660 shares during the last quarter. Finally, Man Group plc lifted its position in Espey Mfg. & Electronics by 14.4% during the fourth quarter. Man Group plc now owns 6,538 shares of the company's stock worth $308,000 after buying an additional 824 shares during the period. Institutional investors and hedge funds own 36.65% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Freedom Capital cut shares of Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Espey Mfg. & Electronics presently has an average rating of "Hold".
Check Out Our Latest Report on ESP
Espey Mfg. & Electronics Company Profile
(
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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