Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Key Points

• Espey Mfg. & Electronics shares fell below their 200-day moving average, trading as low as $56.70 versus the $59.25 average, with the latest price at $58.14.
• Freedom Capital downgraded the stock from “strong buy” to “hold,” while the sole analyst covering it gives the company an average “Hold” rating.
• The company beat quarterly EPS estimates ($0.99 versus $0.88) but missed revenue expectations, and recently paid a quarterly dividend of $0.25. Insiders have sold 11,100 shares worth approximately $727,674 over the past three months.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $59.25 and traded as low as $56.70. Espey Mfg. & Electronics shares last traded at $58.14, with a volume of 43,869 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Freedom Capital cut Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Espey Mfg. & Electronics Price Performance

The stock's 50 day simple moving average is $59.88 and its two-hundred day simple moving average is $59.25. The stock has a market capitalization of $174.42 million, a PE ratio of 15.34 and a beta of 0.34.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.11. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%. The company had revenue of $11.42 million during the quarter, compared to analyst estimates of $13.20 million.

Espey Mfg. & Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics's dividend payout ratio (DPR) is currently 40.82%.

Insider Transactions at Espey Mfg. & Electronics

In other news, Director Paul J. Corr sold 2,550 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $65.89, for a total transaction of $168,019.50. Following the completion of the transaction, the director owned 20,439 shares in the company, valued at approximately $1,346,725.71. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Michele Pickering sold 2,500 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $63.00, for a total value of $157,500.00. Following the transaction, the insider owned 2,500 shares of the company's stock, valued at $157,500. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 11,100 shares of company stock valued at $727,674. Corporate insiders own 5.54% of the company's stock.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Espey Mfg. & Electronics by 27.4% during the second quarter. American Century Companies Inc. now owns 11,234 shares of the company's stock valued at $514,000 after purchasing an additional 2,415 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Espey Mfg. & Electronics in the second quarter worth about $591,000. Bank of America Corp DE increased its stake in shares of Espey Mfg. & Electronics by 356.3% in the second quarter. Bank of America Corp DE now owns 1,232 shares of the company's stock worth $56,000 after purchasing an additional 962 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at approximately $211,000. Finally, Osaic Holdings Inc. raised its position in shares of Espey Mfg. & Electronics by 25.4% in the second quarter. Osaic Holdings Inc. now owns 8,654 shares of the company's stock valued at $396,000 after purchasing an additional 1,754 shares during the period. 36.65% of the stock is currently owned by institutional investors.

About Espey Mfg. & Electronics

Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company's core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.

Espey's sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.

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