Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Lowered to Hold Rating by Freedom Capital

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was downgraded by investment analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Espey Mfg. & Electronics Stock Performance

ESP opened at $60.19 on Monday. The firm has a 50 day moving average price of $62.20 and a 200 day moving average price of $52.63. The company has a market cap of $180.57 million, a PE ratio of 15.88 and a beta of 0.44. Espey Mfg. & Electronics has a 1 year low of $34.90 and a 1 year high of $74.77.

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

Insider Buying and Selling

In related news, Director Paul J. Corr sold 2,242 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $58.23, for a total transaction of $130,551.66. Following the completion of the sale, the director owned 22,839 shares of the company’s stock, valued at approximately $1,329,914.97. This represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael W. Wool sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $57.90, for a total transaction of $57,900.00. Following the sale, the director directly owned 17,400 shares of the company’s stock, valued at approximately $1,007,460. This trade represents a 5.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 5,642 shares of company stock valued at $327,412. Corporate insiders own 5.54% of the company’s stock.

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in Espey Mfg. & Electronics by 3.2% during the 4th quarter. Renaissance Technologies LLC now owns 103,312 shares of the company’s stock worth $4,869,000 after purchasing an additional 3,247 shares in the last quarter. Vanguard Group Inc. grew its position in Espey Mfg. & Electronics by 4.3% in the third quarter. Vanguard Group Inc. now owns 93,577 shares of the company’s stock valued at $3,707,000 after acquiring an additional 3,833 shares in the last quarter. De Lisle Partners LLP grew its position in Espey Mfg. & Electronics by 9.4% in the fourth quarter. De Lisle Partners LLP now owns 56,247 shares of the company’s stock valued at $2,664,000 after acquiring an additional 4,822 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in Espey Mfg. & Electronics by 74.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 26,923 shares of the company’s stock valued at $1,269,000 after acquiring an additional 11,453 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Espey Mfg. & Electronics in the third quarter valued at approximately $1,047,000. Institutional investors and hedge funds own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

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.