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

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 13,200 shares, an increase of 57.1% from the October 15th total of 8,400 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 16,100 shares, the days-to-cover ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

Insider Buying and Selling at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,353 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $29.50, for a total transaction of $39,913.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Perritt Capital Management Inc. raised its position in shares of Espey Mfg. & Electronics by 66.7% during the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after purchasing an additional 2,201 shares during the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of Espey Mfg. & Electronics during the second quarter valued at $476,000. Morgan Dempsey Capital Management LLC purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $113,000. Dimensional Fund Advisors LP raised its stake in Espey Mfg. & Electronics by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock valued at $1,841,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Espey Mfg. & Electronics by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Trading Down 1.7 %

Shares of Espey Mfg. & Electronics stock opened at $29.63 on Friday. The stock has a market cap of $82.67 million, a PE ratio of 12.04 and a beta of 0.15. Espey Mfg. & Electronics has a 52-week low of $16.50 and a 52-week high of $33.00.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings data on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. The firm had revenue of $11.61 million for the quarter. Espey Mfg. & Electronics had a return on equity of 15.95% and a net margin of 15.56%.

Espey Mfg. & Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a $0.25 dividend. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 40.65%.

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.