Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Significant Growth in Short Interest

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

Espey Mfg. & Electronics Stock Performance

Shares of ESP opened at $29.63 on Friday. Espey Mfg. & Electronics has a twelve month low of $16.50 and a twelve month high of $33.00. The firm has a market capitalization of $82.67 million, a P/E ratio of 12.04 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Friday, September 27th. The company reported $0.73 earnings per share (EPS) for the quarter. The business had revenue of $11.61 million during 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 business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a $0.25 dividend. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.37%. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.65%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Espey Mfg. & Electronics

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,353 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. 6.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC purchased a new position in Espey Mfg. & Electronics in the 2nd quarter valued at about $476,000. Geode Capital Management LLC lifted its stake 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 worth $719,000 after acquiring an additional 8,511 shares in the last quarter. Secure Asset Management LLC acquired a new position in shares of Espey Mfg. & Electronics in the third quarter worth about $219,000. Morgan Dempsey Capital Management LLC purchased a new position in Espey Mfg. & Electronics in the second quarter valued at about $113,000. Finally, Renaissance Technologies LLC grew its stake in Espey Mfg. & Electronics by 3.7% during 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. 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.