StockNews.com Upgrades Espey Mfg. & Electronics (NYSEAMERICAN:ESP) to Strong-Buy

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

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN ESP opened at $29.48 on Thursday. The stock has a market capitalization of $82.25 million, a PE ratio of 11.98 and a beta of 0.15. Espey Mfg. & Electronics has a fifty-two week low of $16.50 and a fifty-two week high of $33.00.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings data on Friday, September 27th. The company reported $0.73 EPS for the quarter. The company had revenue of $11.61 million during the quarter. Espey Mfg. & Electronics had a net margin of 15.56% and a return on equity of 15.66%.

Espey Mfg. & Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders 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 is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 3.39%. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is 40.65%.

Insider Activity at Espey Mfg. & Electronics

In related news, insider Peggy A. Murphy sold 1,018 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. 6.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Espey Mfg. & Electronics

Several large investors have recently modified their holdings of the stock. Morgan Dempsey Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter worth $113,000. Perritt Capital Management Inc. boosted its holdings in Espey Mfg. & Electronics by 66.7% in the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after acquiring an additional 2,201 shares during the last quarter. Secure Asset Management LLC acquired a new stake in shares of Espey Mfg. & Electronics during the third quarter worth $219,000. Ellsworth Advisors LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $476,000. Finally, Geode Capital Management LLC increased its holdings in Espey Mfg. & Electronics by 55.3% in the third quarter. Geode Capital Management LLC now owns 23,907 shares of the company’s stock worth $719,000 after purchasing an additional 8,511 shares in the last quarter. 36.65% of the stock is owned by institutional investors and hedge funds.

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.