Insider Selling: Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Director Sells $137,184.63 in Stock

Key Points

• Director Paul Corr sold 2,089 shares of Espey Mfg. & Electronics at an average price of $65.67, generating $137,184.63. His remaining stake declined 9.19% to 20,650 shares.
• Espey reported quarterly EPS of $1.15, exceeding analyst expectations of $0.96, though revenue of $13.47 million fell short of the $14.80 million consensus estimate.
• The stock traded near $65.52, within its $36.00–$74.77 52-week range, while the company paid a $0.75-per-share special dividend and institutional investors owned 36.65% of outstanding shares.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) Director Paul Corr sold 2,089 shares of the firm's stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $65.67, for a total value of $137,184.63. Following the completion of the sale, the director directly owned 20,650 shares of the company's stock, valued at approximately $1,356,085.50. This represents a 9.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Espey Mfg. & Electronics Price Performance

Espey Mfg. & Electronics stock traded down $0.11 during mid-day trading on Monday, reaching $65.52. 33,959 shares of the company traded hands, compared to its average volume of 34,952. Espey Mfg. & Electronics Corp. has a fifty-two week low of $36.00 and a fifty-two week high of $74.77. The firm's fifty day moving average is $62.19 and its two-hundred day moving average is $61.66. The company has a market capitalization of $199.18 million, a price-to-earnings ratio of 16.84 and a beta of 0.37.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last released its earnings results on Wednesday, September 23rd. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.19. The firm had revenue of $13.47 million during the quarter, compared to the consensus estimate of $14.80 million. Espey Mfg. & Electronics had a return on equity of 20.22% and a net margin of 24.24%.

Espey Mfg. & Electronics Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 18th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, September 18th. Espey Mfg. & Electronics's payout ratio is 40.82%.

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sage Investment Advisers LLC acquired a new stake in Espey Mfg. & Electronics in the 4th quarter worth about $680,000. BlackRock Inc. purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter valued at about $7,808,000. Sei Investments Co. purchased a new position in Espey Mfg. & Electronics in the 1st quarter worth approximately $1,384,000. Bank of New York Mellon Corp acquired a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth approximately $1,349,000. Finally, De Lisle Partners LLP purchased a new position in Espey Mfg. & Electronics during the second quarter worth approximately $3,777,000. 36.65% of the stock is currently owned by hedge funds and other institutional investors.

About Espey Mfg. & Electronics

Espey Mfg. & Electronics Corp. NYSEAMERICAN: ESP is a U.S.-based defense electronics company that designs and manufactures specialized electronic systems and components for military and aerospace applications. Its products support the power, computing, display, communications, and control requirements of defense platforms and other mission-critical systems.

The company's offerings include power supplies and power-conversion equipment, ruggedized electronic assemblies, embedded computing systems, video and display products, and systems used in radar and other defense applications.

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