Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Declines By 12.5%

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 8,400 shares, a drop of 12.5% from the September 30th total of 9,600 shares. Based on an average daily volume of 12,900 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.5% of the shares of the stock are sold short.

Espey Mfg. & Electronics Price Performance

Espey Mfg. & Electronics stock traded up $0.84 during midday trading on Thursday, reaching $31.20. The stock had a trading volume of 28,224 shares, compared to its average volume of 12,531. Espey Mfg. & Electronics has a 52-week low of $15.65 and a 52-week high of $32.90. The firm has a market capitalization of $85.47 million, a P/E ratio of 13.62 and a beta of 0.15.

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

Espey Mfg. & Electronics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were issued a $0.25 dividend. The ex-dividend date was Friday, September 20th. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. Espey Mfg. & Electronics’s dividend payout ratio is presently 43.67%.

Insider Activity at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,353 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $29.50, for a total transaction of $39,913.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Dempsey Capital Management LLC purchased a new stake in Espey Mfg. & Electronics in the 2nd quarter valued at about $113,000. Perritt Capital Management Inc. raised its stake in shares of Espey Mfg. & Electronics by 66.7% during 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 in the last quarter. Secure Asset Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the third quarter valued at approximately $219,000. Ellsworth Advisors LLC bought a new position in Espey Mfg. & Electronics in the second quarter worth approximately $476,000. Finally, Dimensional Fund Advisors LP increased 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 purchasing an additional 1,591 shares during the period. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.