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

StockNews.com downgraded shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a strong-buy rating to a buy rating in a research note released on Sunday morning.

Espey Mfg. & Electronics Stock Performance

Shares of Espey Mfg. & Electronics stock opened at $20.73 on Friday. The firm has a market cap of $56.59 million, a price-to-earnings ratio of 10.80 and a beta of 0.18. Espey Mfg. & Electronics has a 1-year low of $14.69 and a 1-year high of $27.32.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Monday, May 13th. The company reported $0.40 earnings per share for the quarter. Espey Mfg. & Electronics had a return on equity of 12.83% and a net margin of 13.58%. The firm had revenue of $8.26 million for the quarter.

Espey Mfg. & Electronics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.15. The ex-dividend date was Thursday, March 21st. Espey Mfg. & Electronics’s payout ratio is presently 36.46%.

Insider Activity

In other news, insider Peggy A. Murphy sold 6,000 shares of Espey Mfg. & Electronics stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $25.38, for a total transaction of $152,280.00. The sale was disclosed in a filing with the SEC, which is available at this link. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Espey Mfg. & Electronics

A hedge fund recently raised its stake in Espey Mfg. & Electronics stock. Perritt Capital Management Inc. boosted its position in shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) by 66.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,500 shares of the company’s stock after purchasing an additional 2,201 shares during the period. Perritt Capital Management Inc. owned 0.20% of Espey Mfg. & Electronics worth $139,000 at the end of the most recent reporting period. 36.65% of the stock is owned by hedge funds and other institutional investors.

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.