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

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Espey Mfg. & Electronics Stock Down 2.8 %

Shares of ESP traded down $0.87 during mid-day trading on Thursday, hitting $30.14. 37,413 shares of the company’s stock were exchanged, compared to its average volume of 13,401. The firm has a market cap of $84.09 million, a price-to-earnings ratio of 13.16 and a beta of 0.15. Espey Mfg. & Electronics has a twelve month low of $16.50 and a twelve month high of $33.00.

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

Insider Activity at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,018 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was 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 at the SEC website. 6.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ESP. Morgan Dempsey Capital Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the second quarter worth $113,000. Perritt Capital Management Inc. increased its position in shares of Espey Mfg. & Electronics by 66.7% during the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after purchasing an additional 2,201 shares in the last quarter. Secure Asset Management LLC acquired a new position in Espey Mfg. & Electronics in the 3rd quarter valued at about $219,000. Ellsworth Advisors LLC purchased a new stake in Espey Mfg. & Electronics in the 2nd quarter valued at approximately $476,000. Finally, De Lisle Partners LLP raised its stake in shares of Espey Mfg. & Electronics by 7.5% during the 3rd quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock worth $1,298,000 after buying an additional 3,000 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.