Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Espey Mfg. & Electronics Trading Up 1.9 %

Shares of Espey Mfg. & Electronics stock opened at $29.48 on Thursday. Espey Mfg. & Electronics has a 52-week low of $16.50 and a 52-week high of $33.00. The company has a market capitalization of $82.25 million, a PE ratio of 11.98 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Friday, September 27th. The company reported $0.73 earnings per share (EPS) for the quarter. Espey Mfg. & Electronics had a net margin of 15.56% and a return on equity of 15.66%. The firm had revenue of $11.61 million for the quarter.

Espey Mfg. & Electronics Increases Dividend

The company also recently disclosed 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 was Friday, September 20th. This represents a $1.00 annualized dividend and a yield of 3.39%. This is a positive change from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 40.65%.

Insider Buying and Selling at Espey Mfg. & Electronics

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,018 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total transaction of $29,929.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.78% of the company’s stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Several large investors have recently bought and sold shares of the business. Morgan Dempsey Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter valued at about $113,000. Perritt Capital Management Inc. grew its stake 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. Secure Asset Management LLC bought a new position in shares of Espey Mfg. & Electronics during the 3rd quarter valued at approximately $219,000. Ellsworth Advisors LLC bought a new position in shares of Espey Mfg. & Electronics during the 2nd quarter valued at approximately $476,000. Finally, Geode Capital Management LLC grew its stake in shares of Espey Mfg. & Electronics by 55.3% during the 3rd quarter. Geode Capital Management LLC now owns 23,907 shares of the company’s stock valued at $719,000 after acquiring an additional 8,511 shares during the period. 36.65% of the stock is currently owned by institutional investors.

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.