Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Up 57.1% in October

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 13,200 shares, an increase of 57.1% from the October 15th total of 8,400 shares. Based on an average trading volume of 16,100 shares, the short-interest ratio is presently 0.8 days. Approximately 0.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Espey Mfg. & Electronics in a research report on Saturday, October 5th. They set a “strong-buy” rating on the stock.

Insider Activity

In related news, insider Peggy A. Murphy sold 1,018 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Institutional investors have recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC bought a new position in Espey Mfg. & Electronics during the second quarter valued at approximately $113,000. Perritt Capital Management Inc. raised its position 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 worth $139,000 after acquiring an additional 2,201 shares during the period. Secure Asset Management LLC purchased a new position in shares of Espey Mfg. & Electronics during the 3rd quarter worth $219,000. Ellsworth Advisors LLC bought a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter valued at $476,000. Finally, De Lisle Partners LLP increased its stake in shares of Espey Mfg. & Electronics by 7.5% in the 3rd quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock worth $1,298,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN ESP traded down $0.87 during midday trading on Thursday, hitting $30.14. 37,413 shares of the company traded hands, compared to its average volume of 13,401. Espey Mfg. & Electronics has a 12-month low of $16.50 and a 12-month high of $33.00. The stock has a market capitalization of $84.09 million, a P/E ratio of 13.16 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last announced its quarterly earnings data on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. The business had revenue of $11.61 million for the quarter. Espey Mfg. & Electronics had a net margin of 15.01% and a return on equity of 14.95%.

Espey Mfg. & Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a dividend of $0.25 per share. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. 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 3.32%. Espey Mfg. & Electronics’s dividend payout ratio is presently 43.67%.

Espey Mfg. & Electronics Company Profile

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.