StockNews.com Begins Coverage on Espey Mfg. & Electronics (NYSEAMERICAN:ESP)

StockNews.com assumed coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) in a research report released on Monday morning. The brokerage issued a hold rating on the stock.

Espey Mfg. & Electronics Trading Down 1.6 %

Shares of NYSEAMERICAN ESP opened at $23.61 on Monday. Espey Mfg. & Electronics has a one year low of $14.69 and a one year high of $27.32. The firm has a market capitalization of $64.46 million, a price-to-earnings ratio of 12.30 and a beta of 0.14.

Espey Mfg. & Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio is currently 52.08%.

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of Espey Mfg. & Electronics by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after acquiring an additional 4,000 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock valued at $1,841,000 after acquiring an additional 1,591 shares during the period. Ellsworth Advisors LLC bought a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter valued at $476,000. Adirondack Trust Co. lifted its position in shares of Espey Mfg. & Electronics by 7.2% during the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock valued at $161,000 after acquiring an additional 426 shares during the period. Finally, Perritt Capital Management Inc. lifted its position in shares of Espey Mfg. & Electronics by 66.7% during the 1st 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 period. 36.65% of the stock is currently owned by institutional investors.

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.