56,247 Shares in Espey Mfg. & Electronics Corp. $ESP Bought by De Lisle Partners LLP

Key Points

• De Lisle Partners LLP purchased 56,247 shares of Espey Mfg. & Electronics, valued at approximately $3.8 million, giving it a 1.87% stake. Institutional investors and hedge funds collectively own 36.65% of the company.
• Company insiders sold 8,550 shares worth approximately $558,454 over the past three months, including sales by a director and the CEO that reduced their respective holdings.
• Espey shares opened at $64.78, with a market capitalization of about $194 million, and the company maintains a quarterly dividend of $0.25 per share, equivalent to a 1.5% annual yield. The stock carries an overall analyst rating of Hold.

De Lisle Partners LLP purchased a new position in shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,247 shares of the company's stock, valued at approximately $3,777,000. De Lisle Partners LLP owned approximately 1.87% of Espey Mfg. & Electronics at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ESP. BlackRock Inc. bought a new stake in shares of Espey Mfg. & Electronics in the 2nd quarter valued at about $7,808,000. Two Sigma Investments LP bought a new position in Espey Mfg. & Electronics during the third quarter worth about $1,047,000. Sei Investments Co. acquired a new position in Espey Mfg. & Electronics during the first quarter worth approximately $1,384,000. Bank of New York Mellon Corp acquired a new position in Espey Mfg. & Electronics during the second quarter worth approximately $1,349,000. Finally, Steel Partners Holdings L.P. bought a new stake in Espey Mfg. & Electronics in the fourth quarter valued at approximately $784,000. Institutional investors and hedge funds own 36.65% of the company's stock.

Insider Transactions at Espey Mfg. & Electronics

In other news, Director Paul J. Corr sold 2,550 shares of the company'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 value of $168,019.50. Following the transaction, the director owned 20,439 shares of the company's stock, valued at approximately $1,346,725.71. This represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David A. Oneil 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 $67.71, for a total value of $169,275.00. Following the transaction, the chief executive officer owned 13,750 shares in the company, valued at approximately $931,012.50. This trade represents a 15.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,550 shares of company stock worth $558,454 over the last three months. Company insiders own 5.54% of the company's stock.

Espey Mfg. & Electronics Price Performance

NYSEAMERICAN:ESP opened at $64.78 on Friday. The company has a market cap of $194.34 million, a P/E ratio of 17.09 and a beta of 0.35. The firm's fifty day moving average price is $61.60 and its two-hundred day moving average price is $60.53. Espey Mfg. & Electronics Corp. has a one year low of $36.00 and a one year high of $74.77.

Espey Mfg. & Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Espey Mfg. & Electronics's payout ratio is currently 40.82%.

Analysts Set New Price Targets

Separately, Freedom Capital cut Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Espey Mfg. & Electronics currently has an average rating of "Hold".

Espey Mfg. & Electronics Profile

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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