Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Large Decline in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 38,951 shares, a drop of 45.1% from the September 30th total of 70,947 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 41,328 shares, the short-interest ratio is currently 0.9 days.

Insider Buying and Selling at Espey Mfg. & Electronics

In related news, Director Paul J. Corr sold 2,089 shares of Espey Mfg. & Electronics stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $65.67, for a total transaction of $137,184.63. Following the transaction, the director owned 20,650 shares of the company’s stock, valued at $1,356,085.50. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Large investors have recently modified their holdings of the business. Deutsche Bank AG bought a new position in shares of Espey Mfg. & Electronics during the 2nd quarter valued at about $156,000. Lazard Asset Management LLC bought a new stake in Espey Mfg. & Electronics during the 1st quarter worth approximately $331,000. Pekin Hardy Strauss Inc. bought a new stake in Espey Mfg. & Electronics during the 3rd quarter worth approximately $506,000. Man Group plc acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth approximately $832,000. Finally, Bank of New York Mellon Corp bought a new position in Espey Mfg. & Electronics in the second quarter valued at approximately $1,349,000. 36.65% of the stock is currently owned by institutional investors.

Espey Mfg. & Electronics Price Performance

ESP traded down $1.21 during mid-day trading on Monday, hitting $51.99. The stock had a trading volume of 19,762 shares, compared to its average volume of 33,080. The stock’s fifty day simple moving average is $60.27 and its 200-day simple moving average is $60.07. The firm has a market capitalization of $158.05 million, a price-to-earnings ratio of 13.37 and a beta of 0.37. Espey Mfg. & Electronics has a 1-year low of $36.82 and a 1-year high of $74.77.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings results on Wednesday, September 23rd. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.19. Espey Mfg. & Electronics had a net margin of 24.24% and a return on equity of 20.22%. The company had revenue of $13.47 million during the quarter, compared to analyst estimates of $14.80 million.

Espey Mfg. & Electronics Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 18th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 18th. Espey Mfg. & Electronics’s payout ratio is presently 40.82%.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp. is a defense electronics company based in Saratoga Springs, New York. The company designs, develops and manufactures specialized electronic equipment primarily for military and aerospace applications.

Its products and capabilities include power supplies, power-conversion equipment, power distribution systems, electronic assemblies and related systems used in demanding defense platforms. Espey also provides engineering, manufacturing and integration services for customers requiring ruggedized electronics and customized power solutions.

Founded in 1928, Espey has supplied products to U.S.