Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Announces Earnings Results, Beats Estimates By $0.11 EPS

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) released its earnings results on Tuesday. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.88 by $0.11, FiscalAI reports. The firm had revenue of $11.42 million for the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%.

Espey Mfg. & Electronics Stock Performance

Shares of NYSEAMERICAN:ESP opened at $74.04 on Wednesday. The company has a market cap of $219.15 million, a PE ratio of 21.59 and a beta of 0.44. The firm has a 50 day simple moving average of $61.43 and a 200 day simple moving average of $51.82. Espey Mfg. & Electronics has a 52 week low of $31.50 and a 52 week high of $73.50.

Espey Mfg. & Electronics Dividend Announcement

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

Insider Activity at Espey Mfg. & Electronics

In other news, CEO David A. Oneil sold 8,856 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $50.00, for a total value of $442,800.00. Following the transaction, the chief executive officer owned 16,250 shares of the company’s stock, valued at $812,500. This represents a 35.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael W. Wool sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $57.90, for a total value of $57,900.00. Following the completion of the transaction, the director owned 17,400 shares in the company, valued at $1,007,460. This represents a 5.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,498 shares of company stock worth $770,212 over the last ninety days. Company insiders own 5.54% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESP. Vanguard Group Inc. boosted its holdings in Espey Mfg. & Electronics by 4.3% during the third quarter. Vanguard Group Inc. now owns 93,577 shares of the company’s stock worth $3,707,000 after buying an additional 3,833 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Espey Mfg. & Electronics by 74.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,923 shares of the company’s stock worth $1,269,000 after buying an additional 11,453 shares during the period. Two Sigma Investments LP bought a new stake in shares of Espey Mfg. & Electronics in the 3rd quarter valued at about $1,047,000. Steel Partners Holdings L.P. acquired a new stake in shares of Espey Mfg. & Electronics in the 4th quarter valued at approximately $784,000. Finally, Marshall Wace LLP acquired a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter valued at approximately $591,000. Institutional investors own 36.65% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Freedom Capital raised 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 MarketBeat.com, Espey Mfg. & Electronics currently has an average rating of “Strong Buy”.

About Espey Mfg. & Electronics

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.