ESCO Technologies Inc. (NYSE:ESE) Sees Significant Growth in Short Interest

ESCO Technologies Inc. (NYSE:ESE) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 287,400 shares, a growth of 5.5% from the November 30th total of 272,300 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average trading volume of 111,400 shares, the days-to-cover ratio is presently 2.6 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ESE. Bank of New York Mellon Corp lifted its holdings in shares of ESCO Technologies by 18.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 283,266 shares of the scientific and technical instruments company’s stock worth $29,754,000 after purchasing an additional 43,907 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of ESCO Technologies in the 2nd quarter worth about $1,587,000. Rhumbline Advisers lifted its position in ESCO Technologies by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 76,505 shares of the scientific and technical instruments company’s stock valued at $8,036,000 after acquiring an additional 493 shares in the last quarter. TD Asset Management Inc boosted its stake in ESCO Technologies by 4.8% during the 2nd quarter. TD Asset Management Inc now owns 19,630 shares of the scientific and technical instruments company’s stock valued at $2,062,000 after purchasing an additional 900 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in ESCO Technologies during the 2nd quarter worth approximately $3,242,000. 95.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ESE has been the subject of several recent analyst reports. Stephens increased their price objective on shares of ESCO Technologies from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Benchmark reissued a “buy” rating and issued a $150.00 price objective on shares of ESCO Technologies in a research report on Friday, November 15th. Finally, StockNews.com lowered ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday.

ESCO Technologies Stock Down 0.1 %

ESCO Technologies stock opened at $133.21 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $3.44 billion, a PE ratio of 33.81 and a beta of 1.11. The firm’s fifty day moving average is $139.63 and its 200 day moving average is $125.36. ESCO Technologies has a 12-month low of $96.69 and a 12-month high of $154.00.

ESCO Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. ESCO Technologies’s dividend payout ratio is presently 8.12%.

About ESCO Technologies

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.