ESPEY MFG & ELECTRONICS (NYSE:ESP) Trading Down 1.4% - Time to Sell?

Key Points

• ESPEY MFG & ELECTRONICS (NYSE:ESP) saw a stock price decrease of 1.4%, closing at $51.71 after trading as low as $50.77.
• The company has recently been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased confidence from analysts.
• ESPEY MFG & ELECTRONICS declared a quarterly dividend of $0.25 per share, with an annualized yield of 1.9%, set to be paid to investors on September 26th.

ESPEY MFG & ELECTRONICS CORP (NYSE:ESP - Get Free Report) shares traded down 1.4% on Tuesday . The company traded as low as $50.77 and last traded at $51.71. 28,820 shares traded hands during mid-day trading, an increase of 32% from the average session volume of 21,788 shares. The stock had previously closed at $52.46.

ESPEY MFG & ELECTRONICS Stock Up 3.1%

The stock's 50-day moving average is $47.55. The firm has a market cap of $130.20 million, a price-to-earnings ratio of 15.33 and a beta of 0.16.

ESPEY MFG & ELECTRONICS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 19th will be issued a $0.25 dividend. The ex-dividend date is Friday, September 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.2%. ESPEY MFG & ELECTRONICS's dividend payout ratio (DPR) is currently 33.33%.

Insider Activity

In related news, CEO David A. Oneil sold 4,042 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $40.00, for a total value of $161,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.78% of the company's stock.

Institutional Investors Weigh In On ESPEY MFG & ELECTRONICS

Several large investors have recently bought and sold shares of ESP. Bank of America Corp DE raised its holdings in ESPEY MFG & ELECTRONICS by 356.3% during the 2nd quarter. Bank of America Corp DE now owns 1,232 shares of the company's stock valued at $56,000 after buying an additional 962 shares during the period. Copeland Capital Management LLC boosted its holdings in ESPEY MFG & ELECTRONICS by 16.3% in the second quarter. Copeland Capital Management LLC now owns 2,380 shares of the company's stock worth $109,000 after acquiring an additional 334 shares in the last quarter. Bridgeway Capital Management LLC acquired a new stake in ESPEY MFG & ELECTRONICS in the second quarter worth about $211,000. Wealth Enhancement Advisory Services LLC acquired a new stake in ESPEY MFG & ELECTRONICS in the second quarter worth about $219,000. Finally, Heron Bay Capital Management acquired a new stake in ESPEY MFG & ELECTRONICS in the second quarter worth about $274,000. 36.65% of the stock is currently owned by institutional investors.

About ESPEY MFG & ELECTRONICS

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.