Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.

Espey Mfg. & Electronics Stock Performance

Espey Mfg. & Electronics stock opened at $28.94 on Thursday. The firm has a market capitalization of $80.74 million, a price-to-earnings ratio of 11.76 and a beta of 0.15. Espey Mfg. & Electronics has a 1-year low of $16.50 and a 1-year high of $33.00.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. The business had revenue of $11.61 million for the quarter. Espey Mfg. & Electronics had a return on equity of 15.66% and a net margin of 15.56%.

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s dividend payout ratio is currently 40.65%.

Insider Transactions at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,018 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.78% of the company’s stock.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Several institutional investors have recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at about $113,000. Perritt Capital Management Inc. lifted its position in Espey Mfg. & Electronics by 66.7% in the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after purchasing an additional 2,201 shares during the period. Secure Asset Management LLC purchased a new stake in Espey Mfg. & Electronics in the 3rd quarter valued at approximately $219,000. Ellsworth Advisors LLC acquired a new position in Espey Mfg. & Electronics during the 2nd quarter worth approximately $476,000. Finally, Geode Capital Management LLC increased its position in Espey Mfg. & Electronics by 55.3% during the 3rd quarter. Geode Capital Management LLC now owns 23,907 shares of the company’s stock worth $719,000 after purchasing an additional 8,511 shares during the period. 36.65% of the stock is owned by institutional investors and hedge funds.

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.