Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Research Coverage Started at StockNews.com

by · The Markets Daily

StockNews.com initiated coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP – Free Report) in a research note released on Saturday morning. The brokerage issued a strong-buy rating on the stock.

Espey Mfg. & Electronics Price Performance

Espey Mfg. & Electronics stock opened at $29.50 on Friday. Espey Mfg. & Electronics has a 1-year low of $14.69 and a 1-year high of $32.00. The company has a market capitalization of $80.54 million, a PE ratio of 15.36 and a beta of 0.14.

Espey Mfg. & Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In related news, insider Peggy A. Murphy sold 1,353 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $29.50, for a total transaction of $39,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of hedge funds have recently added to or reduced their stakes in ESP. Adirondack Trust Co. lifted its holdings in Espey Mfg. & Electronics by 7.2% during the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after buying an additional 426 shares in the last quarter. Perritt Capital Management Inc. lifted its holdings in Espey Mfg. & Electronics by 66.7% during the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after buying an additional 2,201 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth approximately $476,000. Morgan Dempsey Capital Management LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth approximately $113,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after buying an additional 1,591 shares in the last quarter. 36.65% of the stock is currently owned by institutional investors and hedge funds.

About Espey Mfg. & Electronics

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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.

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