Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Espey Mfg. & Electronics shares fell below their 200-day moving average, trading as low as $56.36 versus a 200-day average of $58.76. The stock last traded at $56.57 on volume of 71,193 shares.
• Analyst sentiment remains cautious after Freedom Capital downgraded the stock from “strong-buy” to “hold,” matching the current consensus rating of Hold.
• Recent results were mixed: Espey beat EPS estimates at $0.99 versus $0.88 expected, but revenue came in below forecasts at $11.42 million versus $13.20 million. The company also recently paid a quarterly dividend of $0.25 per share, yielding about 1.8% annually.

Shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $58.76 and traded as low as $56.36. Espey Mfg. & Electronics shares last traded at $56.57, with a volume of 71,193 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Freedom Capital downgraded shares of Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Espey Mfg. & Electronics Price Performance

The company has a market capitalization of $169.71 million, a P/E ratio of 14.93 and a beta of 0.34. The company has a fifty day moving average price of $60.91 and a 200 day moving average price of $58.76.

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

Espey Mfg. & Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics's payout ratio is presently 40.82%.

Insider Activity

In other news, Director Paul J. Corr sold 2,550 shares of the business's stock in a transaction that occurred 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 directly owned 20,439 shares in the company, valued at approximately $1,346,725.71. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Michele Pickering sold 2,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 2,500 shares of the company's stock, valued at $157,500. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 11,100 shares of company stock worth $727,674 in the last quarter. Company insiders own 5.54% of the company's stock.

Institutional Trading of Espey Mfg. & Electronics

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Espey Mfg. & Electronics by 356.3% in the 2nd 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 during the period. BNP Paribas Financial Markets bought a new stake in shares of Espey Mfg. & Electronics during the 3rd quarter worth $67,000. Bridgeway Capital Management LLC acquired a new position in Espey Mfg. & Electronics in the 2nd quarter valued at $211,000. JPMorgan Chase & Co. grew its stake in Espey Mfg. & Electronics by 56,588.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company's stock valued at $202,000 after buying an additional 5,093 shares during the last quarter. Finally, GC Wealth Management RIA LLC bought a new position in Espey Mfg. & Electronics in the 4th quarter worth $267,000. 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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