Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Large Decline in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 8,400 shares, a decrease of 12.5% from the September 30th total of 9,600 shares. Based on an average daily trading volume, of 12,900 shares, the short-interest ratio is presently 0.7 days. Approximately 0.5% of the shares of the company are short sold.

Insider Activity

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,018 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total value of $29,929.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 16.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors have recently made changes to their positions in the company. Ellsworth Advisors LLC increased its holdings in shares of Espey Mfg. & Electronics by 6.9% during the third quarter. Ellsworth Advisors LLC now owns 23,977 shares of the company’s stock worth $721,000 after purchasing an additional 1,555 shares during the period. Secure Asset Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the 3rd quarter valued at $219,000. Renaissance Technologies LLC grew its holdings in shares of Espey Mfg. & Electronics by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock worth $2,370,000 after purchasing an additional 4,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Espey Mfg. & Electronics by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,591 shares during the period. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Espey Mfg. & Electronics in the second quarter worth $113,000. Institutional investors own 36.65% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Espey Mfg. & Electronics in a research note on Saturday, October 5th. They issued a “strong-buy” rating on the stock.

Espey Mfg. & Electronics Trading Up 2.8 %

ESP stock traded up $0.84 during trading hours on Thursday, reaching $31.20. 28,224 shares of the stock were exchanged, compared to its average volume of 12,531. The stock has a market cap of $85.47 million, a PE ratio of 13.62 and a beta of 0.15. Espey Mfg. & Electronics has a 12 month low of $15.65 and a 12 month high of $32.90.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its quarterly earnings results on Friday, September 27th. The company reported $0.73 EPS for the quarter. Espey Mfg. & Electronics had a return on equity of 14.95% and a net margin of 15.01%. The firm had revenue of $11.61 million during the quarter.

Espey Mfg. & Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.21%. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, September 20th. Espey Mfg. & Electronics’s payout ratio is 43.67%.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.