ESPEY MFG & ELECTRONICS (NYSE:ESP) Trading Down 0.2% - What's Next?

Shares of ESPEY MFG & ELECTRONICS CORP (NYSE:ESP - Get Free Report) dropped 0.2% on Wednesday . The company traded as low as $40.70 and last traded at $40.72. Approximately 24,377 shares changed hands during trading, an increase of 36% from the average daily volume of 17,893 shares. The stock had previously closed at $40.81.

Analysts Set New Price Targets

Separately, Wall Street Zen raised ESPEY MFG & ELECTRONICS from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 21st.

ESPEY MFG & ELECTRONICS Trading Down 0.4%

The stock has a market capitalization of $115.25 million, a PE ratio of 15.19 and a beta of 0.06.

ESPEY MFG & ELECTRONICS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 16th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, June 16th. ESPEY MFG & ELECTRONICS's dividend payout ratio is currently 37.31%.

Insiders Place Their Bets

In related news, CEO David A. Oneil sold 1,023 shares of ESPEY MFG & ELECTRONICS stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $38.00, for a total value of $38,874.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David A. Oneil sold 5,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $35.80, for a total transaction of $179,000.00. Following the completion of the sale, the chief executive officer now owns 5,000 shares of the company's stock, valued at $179,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,600 shares of company stock valued at $433,447 in the last three months. Insiders own 6.78% of the company's stock.

ESPEY MFG & ELECTRONICS Company Profile

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.