Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Update

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient 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 days-to-cover ratio is presently 0.7 days. Approximately 0.5% of the company’s stock are short sold.

Insider Buying and Selling

In other news, insider Peggy A. Murphy sold 1,353 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $29.50, for a total value of $39,913.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC purchased a new stake in Espey Mfg. & Electronics in the 2nd quarter worth $113,000. Perritt Capital Management Inc. raised its stake in Espey Mfg. & Electronics by 66.7% during the 1st 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 position in Espey Mfg. & Electronics in the 3rd quarter worth approximately $219,000. Ellsworth Advisors LLC bought a new position in Espey Mfg. & Electronics in the 2nd quarter worth approximately $476,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Espey Mfg. & Electronics by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock valued at $1,841,000 after buying an additional 1,591 shares during the last quarter. 36.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Espey Mfg. & Electronics in a report on Saturday, October 5th. They issued a “strong-buy” rating for the company.

Espey Mfg. & Electronics Stock Up 2.8 %

Shares of NYSEAMERICAN ESP traded up $0.84 during midday trading on Thursday, hitting $31.20. 28,224 shares of the company’s stock traded hands, compared to its average volume of 12,531. Espey Mfg. & Electronics has a 1 year low of $15.65 and a 1 year high of $32.90. The firm has a market capitalization of $85.47 million, a P/E ratio of 13.62 and a beta of 0.15.

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

Espey Mfg. & Electronics Increases Dividend

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

About Espey Mfg. & Electronics

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.