Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Drops By 63.2%

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,500 shares, a decline of 63.2% from the March 15th total of 9,500 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 13,200 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Espey Mfg. & Electronics from a "buy" rating to a "strong-buy" rating in a research note on Monday, February 19th.

Espey Mfg. & Electronics Trading Up 0.1 %

Shares of NYSEAMERICAN:ESP traded up $0.03 on Friday, reaching $22.90. The company had a trading volume of 2,079 shares, compared to its average volume of 8,877. The company has a market capitalization of $62.06 million, a PE ratio of 12.25 and a beta of 0.18. Espey Mfg. & Electronics has a 52-week low of $14.69 and a 52-week high of $27.32.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last posted its earnings results on Monday, February 12th. The company reported $0.72 EPS for the quarter. The company had revenue of $10.30 million during the quarter. Espey Mfg. & Electronics had a net margin of 12.57% and a return on equity of 12.78%.

Espey Mfg. & Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 22nd were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 3.06%. This is a boost from Espey Mfg. & Electronics's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, March 21st. Espey Mfg. & Electronics's dividend payout ratio (DPR) is presently 37.43%.

Insider Buying and Selling

In other news, insider Peggy A. Murphy sold 6,000 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $25.38, for a total transaction of $152,280.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. 16.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

Large investors have recently bought and sold shares of the company. Adirondack Trust Co. lifted its holdings in shares of Espey Mfg. & Electronics by 7.2% in the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company's stock valued at $161,000 after buying an additional 426 shares during the period. BlackRock Inc. lifted its stake in shares of Espey Mfg. & Electronics by 19.6% in the 2nd quarter. BlackRock Inc. now owns 4,973 shares of the company's stock valued at $83,000 after purchasing an additional 815 shares during the period. Royal Bank of Canada boosted its holdings in Espey Mfg. & Electronics by 10.2% during the third quarter. Royal Bank of Canada now owns 9,690 shares of the company's stock worth $134,000 after buying an additional 900 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Espey Mfg. & Electronics by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 92,294 shares of the company's stock valued at $1,272,000 after buying an additional 1,138 shares during the period. Finally, Perritt Capital Management Inc. purchased a new position in Espey Mfg. & Electronics in the fourth quarter valued at $62,000. Hedge funds and other institutional investors own 36.65% 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.

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