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

Key Points

• Espey Mfg. & Electronics stock has recently fallen below its 200-day moving average, trading at $38.50, while the average is $39.10.
• The company announced a special dividend of $0.75 per share, with a dividend yield of 217.0%, to be paid on September 26th to holders of record by September 19th.
• Institutional investors have increased their stakes in the company, with hedge funds owning 36.65% of the stock, indicating growing interest among major investors.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - )'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.10 and traded as low as $38.40. Espey Mfg. & Electronics shares last traded at $38.50, with a volume of 35,932 shares trading hands.

Espey Mfg. & Electronics Price Performance

The stock has a market cap of $112.42 million, a PE ratio of 12.83 and a beta of 0.16. The business has a 50 day moving average price of $46.83 and a two-hundred day moving average price of $39.10.

Espey Mfg. & Electronics Dividend Announcement

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

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors have recently made changes to their positions in the stock. De Lisle Partners LLP boosted its stake in shares of Espey Mfg. & Electronics by 11.1% during the first quarter. De Lisle Partners LLP now owns 50,023 shares of the company's stock valued at $1,351,000 after purchasing an additional 5,000 shares during the period. Copeland Capital Management LLC purchased a new stake in Espey Mfg. & Electronics in the first quarter worth $56,000. Secure Asset Management LLC lifted its stake in Espey Mfg. & Electronics by 37.9% in the first quarter. Secure Asset Management LLC now owns 9,195 shares of the company's stock worth $249,000 after acquiring an additional 2,528 shares during the period. Finally, Citadel Advisors LLC lifted its stake in Espey Mfg. & Electronics by 10.0% in the fourth quarter. Citadel Advisors LLC now owns 8,299 shares of the company's stock worth $250,000 after acquiring an additional 756 shares during the period. Hedge funds and other institutional investors own 36.65% of the company's stock.

Espey Mfg. & Electronics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.