Marks Group Wealth Management Inc boosted its holdings in ESCO Technologies Inc. (NYSE:ESE) by 15.0% in the second quarter, HoldingsChannel.com reports. The firm owned 56,974 shares of the scientific and technical instruments company’s stock after buying an additional 7,448 shares during the quarter. Marks Group Wealth Management Inc’s holdings in ESCO Technologies were worth $5,355,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. purchased a new stake in ESCO Technologies in the second quarter valued at approximately $27,000. Berman Capital Advisors LLC lifted its stake in ESCO Technologies by 2,028.6% in the first quarter. Berman Capital Advisors LLC now owns 298 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 284 shares during the last quarter. Eaton Vance Management purchased a new stake in ESCO Technologies in the first quarter valued at approximately $35,000. Godsey & Gibb Associates purchased a new stake in ESCO Technologies in the first quarter valued at approximately $44,000. Finally, Advisor Group Holdings Inc. lifted its stake in ESCO Technologies by 48.3% in the second quarter. Advisor Group Holdings Inc. now owns 691 shares of the scientific and technical instruments company’s stock valued at $65,000 after buying an additional 225 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ESE. Zacks Investment Research cut ESCO Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, September 6th. TheStreet cut ESCO Technologies from a “b-” rating to a “c” rating in a research note on Thursday, September 2nd.
ESCO Technologies (NYSE:ESE) last released its quarterly earnings results on Monday, August 9th. The scientific and technical instruments company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.15). ESCO Technologies had a return on equity of 7.23% and a net margin of 3.28%. The company had revenue of $181.39 million for the quarter, compared to analysts’ expectations of $192.31 million. During the same quarter last year, the company earned $0.76 EPS. ESCO Technologies’s revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts anticipate that ESCO Technologies Inc. will post 2.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Friday, October 1st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, September 30th. ESCO Technologies’s dividend payout ratio (DPR) is presently 11.59%.
ESCO Technologies Profile
ESCO Technologies, Inc is a producer of engineered products and systems, which engages in the provision of utility, industrial, aerospace, and commercial applications. It operates through the Filtration/Fluid Flow, RF Shielding and Test, Utility Solutions Group (USG), and Technical Packaging segments.
Read More: High-Yield Dividend Stocks
Want to see what other hedge funds are holding ESE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ESCO Technologies Inc. (NYSE:ESE).
Receive News & Ratings for ESCO Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESCO Technologies and related companies with MarketBeat.com's FREE daily email newsletter.