Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock Rating Lowered by StockNews.com

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

Espey Mfg. & Electronics Stock Performance

NYSEAMERICAN ESP opened at $29.63 on Thursday. The stock has a market cap of $82.67 million, a P/E 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 earnings results on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. Espey Mfg. & Electronics had a return on equity of 15.66% and a net margin of 15.56%. The company had revenue of $11.61 million for the quarter.

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 given a $0.25 dividend. The ex-dividend date was Friday, September 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.37%. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 40.65%.

Insider Buying and Selling at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,018 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $29.40, for a total transaction of $29,929.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ellsworth Advisors LLC acquired a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth approximately $476,000. Geode Capital Management LLC lifted its position in shares of Espey Mfg. & Electronics by 55.3% in the third quarter. Geode Capital Management LLC now owns 23,907 shares of the company’s stock valued at $719,000 after acquiring an additional 8,511 shares in the last quarter. Secure Asset Management LLC acquired a new stake in shares of Espey Mfg. & Electronics during the third quarter valued at $219,000. Morgan Dempsey Capital Management LLC purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $113,000. Finally, Renaissance Technologies LLC raised its stake 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 during the last quarter. Institutional investors and hedge funds own 36.65% of the company’s stock.

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.