Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Shares Cross Below 200 Day Moving Average - Time to Sell?

Key Points

• Espey Mfg. & Electronics shares fell below their 200-day moving average, trading as low as $53.61 versus the $62.09 average, and last changing hands at $54.18.
• The company beat quarterly EPS expectations, reporting $1.15 versus the $0.96 consensus, although revenue of $13.47 million fell short of the $14.80 million estimate.
• Espey paid a special dividend of $0.75 per share, while a director sold 2,089 shares; institutional investors own 36.65% of the company.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $62.09 and traded as low as $53.61. Espey Mfg. & Electronics shares last traded at $54.18, with a volume of 13,563 shares.

Espey Mfg. & Electronics Stock Performance

The stock has a market cap of $164.71 million, a P/E ratio of 13.93 and a beta of 0.37. The firm's 50 day moving average is $61.99 and its 200 day moving average is $62.09.

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

Espey Mfg. & Electronics Announces Dividend

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

Insider Buying and Selling at Espey Mfg. & Electronics

In related news, Director Paul J. Corr sold 2,089 shares of the company's stock in a transaction on Friday, September 25th. The stock was sold at an average price of $65.67, for a total value of $137,184.63. Following the transaction, the director directly owned 20,650 shares of the company's stock, valued at $1,356,085.50. This represents a 9.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Espey Mfg. & Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new stake in Espey Mfg. & Electronics during the 2nd quarter valued at about $156,000. Lazard Asset Management LLC acquired a new position in shares of Espey Mfg. & Electronics in the first quarter valued at about $331,000. Man Group plc acquired a new position in shares of Espey Mfg. & Electronics in the second quarter valued at about $832,000. Ritholtz Wealth Management raised its stake in shares of Espey Mfg. & Electronics by 35.2% in the first quarter. Ritholtz Wealth Management now owns 24,085 shares of the company's stock worth $1,335,000 after purchasing an additional 6,277 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Espey Mfg. & Electronics in the second quarter worth about $1,349,000. Hedge funds and other institutional investors own 36.65% of the company's stock.

Espey Mfg. & Electronics Company Profile

Espey Mfg. & Electronics Corp. designs and manufactures electronic systems and subsystems primarily for defense and other specialized applications. The company is based in Saratoga Springs, New York, and has a long history of supporting customers that require rugged, reliable equipment for demanding operating environments.

Its product offerings include power conversion and power-management equipment, power supplies, power distribution systems, electronic assemblies, displays, and related control and monitoring systems.

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