Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Down 12.5% in October

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a large decrease in short interest during 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 currently 0.7 days. Approximately 0.5% of the shares of the stock are short sold.

Insider Buying and Selling

In other news, insider Peggy A. Murphy sold 1,018 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $29.40, for a total value of $29,929.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors have recently made changes to their positions in ESP. Ellsworth Advisors LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $476,000. Secure Asset Management LLC acquired a new stake in Espey Mfg. & Electronics during the third quarter worth approximately $219,000. Morgan Dempsey Capital Management LLC bought a new stake in Espey Mfg. & Electronics in the second quarter worth approximately $113,000. Renaissance Technologies LLC lifted its stake in Espey Mfg. & Electronics by 3.7% in the second quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after buying an additional 4,000 shares during the period. Finally, Perritt Capital Management Inc. boosted its holdings 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 buying an additional 2,201 shares in the last quarter. Institutional investors own 36.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Espey Mfg. & Electronics in a report on Saturday, October 5th. They set a “strong-buy” rating on the stock.

Espey Mfg. & Electronics Trading Up 2.8 %

Shares of NYSEAMERICAN:ESP traded up $0.84 during midday trading on Thursday, hitting $31.20. 28,224 shares of the stock were exchanged, compared to its average volume of 12,531. Espey Mfg. & Electronics has a 12 month low of $15.65 and a 12 month high of $32.90. The stock has a market cap of $85.47 million, a P/E ratio of 13.62 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its earnings results 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 net margin of 15.01% and a return on equity of 14.95%.

Espey Mfg. & Electronics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a dividend of $0.25 per share. This is a positive change from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 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.