Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Up 592.7% in June

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 85,081 shares, a growth of 592.7% from the June 15th total of 12,283 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 67,186 shares, the short-interest ratio is currently 1.3 days.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, insider Jennifer Michele Pickering sold 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $63.00, for a total transaction of $157,500.00. Following the completion of the transaction, the insider owned 2,500 shares in the company, valued at approximately $157,500. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul J. Corr sold 2,550 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $65.89, for a total value of $168,019.50. Following the completion of the transaction, the director directly owned 20,439 shares of the company’s stock, valued at approximately $1,346,725.71. The trade was a 11.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 11,100 shares of company stock worth $727,674. Insiders own 5.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ESP. Bank of America Corp DE grew its holdings in Espey Mfg. & Electronics by 356.3% during the second quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock worth $56,000 after acquiring an additional 962 shares during the period. BNP Paribas Financial Markets acquired a new stake in Espey Mfg. & Electronics in the 3rd quarter valued at about $67,000. Bridgeway Capital Management LLC acquired a new stake in Espey Mfg. & Electronics in the 2nd quarter valued at about $211,000. JPMorgan Chase & Co. boosted its position in shares of Espey Mfg. & Electronics by 56,588.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock valued at $202,000 after purchasing an additional 5,093 shares in the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in shares of Espey Mfg. & Electronics during the 4th quarter valued at about $267,000. Institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Price Performance

Shares of Espey Mfg. & Electronics stock traded down $1.58 on Friday, hitting $59.92. The company had a trading volume of 26,698 shares, compared to its average volume of 48,952. Espey Mfg. & Electronics has a 52 week low of $36.00 and a 52 week high of $74.77. The company has a market cap of $179.76 million, a PE ratio of 15.81 and a beta of 0.34. The business has a 50-day simple moving average of $62.56 and a 200-day simple moving average of $58.21.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its earnings results on Tuesday, May 12th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.88 by $0.11. The firm had revenue of $11.42 million for the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a return on equity of 20.38% and a net margin of 25.50%.

Espey Mfg. & Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics’s payout ratio is currently 40.82%.

Wall Street Analysts Forecast Growth

Separately, Freedom Capital downgraded shares of Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Espey Mfg. & Electronics has an average rating of “Hold”.

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.