StockNews.com began coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP – Free Report) in a research note published on Sunday morning. The firm issued a strong-buy rating on the stock.
Espey Mfg. & Electronics Price Performance
Shares of ESP opened at $16.23 on Friday. The company has a market cap of $43.98 million, a price-to-earnings ratio of 10.89 and a beta of 0.14. The company has a fifty day moving average price of $17.59. Espey Mfg. & Electronics has a 52 week low of $13.02 and a 52 week high of $22.96.
Espey Mfg. & Electronics (NYSEAMERICAN:ESP – Get Free Report) last posted its quarterly earnings results on Thursday, September 21st. The company reported $0.36 earnings per share for the quarter. The company had revenue of $8.34 million for the quarter. Espey Mfg. & Electronics had a return on equity of 10.68% and a net margin of 10.33%.
Espey Mfg. & Electronics Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Stockholders of record on Monday, October 2nd were paid a $0.15 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.70%. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.10. Espey Mfg. & Electronics’s dividend payout ratio is 40.27%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Espey Mfg. & Electronics by 4.7% in the 1st quarter. Renaissance Technologies LLC now owns 86,912 shares of the company’s stock valued at $1,760,000 after purchasing an additional 3,900 shares during the period. Dimensional Fund Advisors LP raised its stake in Espey Mfg. & Electronics by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 92,294 shares of the company’s stock worth $1,272,000 after buying an additional 1,138 shares during the period. Geode Capital Management LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth $217,000. Royal Bank of Canada raised its stake in Espey Mfg. & Electronics by 24.8% during the 2nd quarter. Royal Bank of Canada now owns 12,090 shares of the company’s stock worth $202,000 after buying an additional 2,400 shares during the period. Finally, BlackRock Inc. raised its stake in Espey Mfg. & Electronics by 26.5% during the 1st quarter. BlackRock Inc. now owns 4,158 shares of the company’s stock worth $84,000 after buying an additional 872 shares during the period.
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.
Further Reading
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