Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Announces Quarterly Earnings Results

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) released its quarterly earnings data on Tuesday. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11, FiscalAI reports. The firm had revenue of $11.42 million for the quarter, compared to the consensus estimate of $13.20 million. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.84%.

Espey Mfg. & Electronics Stock Up 0.3%

ESP traded up $0.20 during trading on Thursday, hitting $70.54. 100,147 shares of the company traded hands, compared to its average volume of 23,220. The firm has a market cap of $208.78 million, a P/E ratio of 18.61 and a beta of 0.44. The stock’s fifty day moving average is $61.64 and its 200 day moving average is $52.05. Espey Mfg. & Electronics has a one year low of $34.90 and a one year high of $74.77.

Espey Mfg. & Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, March 20th. This represents a $1.00 annualized dividend and a yield of 1.4%. Espey Mfg. & Electronics’s dividend payout ratio is presently 40.82%.

Analysts Set New Price Targets

Separately, Freedom Capital upgraded shares of Espey Mfg. & Electronics to a “strong-buy” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Insider Activity at Espey Mfg. & Electronics

In related news, Director Michael W. Wool sold 1,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $57.90, for a total transaction of $57,900.00. Following the completion of the transaction, the director owned 17,400 shares in the company, valued at approximately $1,007,460. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Corr sold 2,400 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $57.90, for a total transaction of $138,960.00. Following the transaction, the director owned 20,439 shares of the company’s stock, valued at approximately $1,183,418.10. The trade was a 10.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 14,498 shares of company stock worth $770,212. 5.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its position in Espey Mfg. & Electronics by 6.3% during the fourth quarter. First Trust Advisors LP now owns 6,866 shares of the company’s stock worth $324,000 after purchasing an additional 404 shares during the period. XTX Topco Ltd lifted its holdings in shares of Espey Mfg. & Electronics by 12.7% in the fourth quarter. XTX Topco Ltd now owns 5,871 shares of the company’s stock worth $277,000 after buying an additional 660 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Espey Mfg. & Electronics by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,692 shares of the company’s stock worth $1,165,000 after buying an additional 745 shares in the last quarter. Man Group plc lifted its holdings in shares of Espey Mfg. & Electronics by 14.4% in the fourth quarter. Man Group plc now owns 6,538 shares of the company’s stock worth $308,000 after buying an additional 824 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Espey Mfg. & Electronics by 356.3% in the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock worth $56,000 after buying an additional 962 shares in the last quarter. Institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company’s core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.

Espey’s sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.