Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Significant Decline in Short Interest

Key Points

• Espey Mfg. & Electronics Corp. experienced a significant decrease in short interest, with a drop of 66.7% from 14,700 shares to 4,900 shares as of September 30th.
• The company recently paid a $0.75 special dividend, yielding 217.0% and had a payout ratio of 40.82%.
• A hedge fund increased its stake in Espey Mfg. & Electronics by 11.1%, highlighting growing institutional interest in the company.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - ) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 4,900 shares, a decrease of 66.7% from the September 15th total of 14,700 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 32,700 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 32,700 shares, the short-interest ratio is presently 0.1 days. Approximately 0.2% of the shares of the stock are short sold.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN ESP traded down $0.08 during mid-day trading on Friday, reaching $36.42. The company's stock had a trading volume of 18,917 shares, compared to its average volume of 34,266. The firm has a market capitalization of $106.35 million, a PE ratio of 12.14 and a beta of 0.17. The stock has a fifty day moving average of $43.89 and a two-hundred day moving average of $40.36. Espey Mfg. & Electronics has a 52 week low of $24.85 and a 52 week high of $55.00.

Espey Mfg. & Electronics Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 19th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a dividend yield of 217.0%. Espey Mfg. & Electronics's dividend payout ratio is 40.82%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A hedge fund recently raised its stake in Espey Mfg. & Electronics stock. De Lisle Partners LLP increased its position in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Free Report) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,023 shares of the company's stock after buying an additional 5,000 shares during the period. De Lisle Partners LLP owned 1.79% of Espey Mfg. & Electronics worth $1,351,000 at the end of the most recent quarter. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

About Espey Mfg. & Electronics

Espey Manufacturing & Electronics Corp. is a power electronics design and original equipment manufacturing company, which engages in developing and delivering products for use in military and severe environment applications. Its products include power supplies, converters, transformers, filters, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, and antennas.

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