Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Espey Mfg. & Electronics shares fell below their two hundred day moving average of $40.27, trading as low as $36.33 and closing at $36.79.
• The company recently declared a special dividend of $0.75, which resulted in an impressive 217.0% yield.
• A hedge fund, Copeland Capital Management LLC, acquired a new stake in Espey Mfg. & Electronics, purchasing around 2,046 shares valued at approximately $56,000.

Shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - ) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $40.27 and traded as low as $36.33. Espey Mfg. & Electronics shares last traded at $36.79, with a volume of 29,689 shares trading hands.

Espey Mfg. & Electronics Price Performance

The company's fifty day simple moving average is $44.50 and its 200-day simple moving average is $40.27. The firm has a market capitalization of $107.43 million, a PE ratio of 12.26 and a beta of 0.17.

Espey Mfg. & Electronics Dividend Announcement

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

Institutional Investors Weigh In On Espey Mfg. & Electronics

A hedge fund recently bought a new stake in Espey Mfg. & Electronics stock. Copeland Capital Management LLC acquired a new stake in shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,046 shares of the company's stock, valued at approximately $56,000. Copeland Capital Management LLC owned about 0.07% of Espey Mfg. & Electronics at the end of the most recent reporting period. 36.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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.