Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) in a report released on Saturday. The firm issued a strong-buy rating on the stock.

Espey Mfg. & Electronics Stock Performance

ESP opened at $30.22 on Friday. The stock has a market capitalization of $82.50 million, a price-to-earnings ratio of 15.74 and a beta of 0.14. Espey Mfg. & Electronics has a 1 year low of $14.69 and a 1 year high of $32.00.

Espey Mfg. & Electronics Increases Dividend

The firm also recently declared 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 a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 3.31%. Espey Mfg. & Electronics’s payout ratio is 52.08%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Adirondack Trust Co. increased its holdings in Espey Mfg. & Electronics by 7.2% during the first quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after buying an additional 426 shares during the last quarter. Perritt Capital Management Inc. raised its holdings in shares of Espey Mfg. & Electronics by 66.7% in the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after purchasing an additional 2,201 shares during the period. Ellsworth Advisors LLC acquired a new stake in Espey Mfg. & Electronics in the 2nd quarter valued at about $476,000. Morgan Dempsey Capital Management LLC bought a new position in Espey Mfg. & Electronics during the second quarter worth about $113,000. Finally, Dimensional Fund Advisors LP increased its position in Espey Mfg. & Electronics by 1.9% during the second 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 during 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.