Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Decreases By 19.2%

Key Points

• Short interest in Espey Mfg. & Electronics Corp. fell by 19.2% in August, reaching a total of 17,300 shares, indicating reduced bearish sentiment towards the stock.
• The company announced a special dividend of $0.75 per share to be paid on September 26, representing a 204.0% dividend yield, and has a payout ratio of 40.82%.
• Espey Mfg. & Electronics shares traded at $44.60, with a market capitalization of $130.23 million and a PE ratio of 14.87.

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 17,300 shares, a drop of 19.2% from the August 15th total of 21,400 shares. Currently, 0.8% of the company's stock are short sold. Based on an average daily volume of 28,400 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 28,400 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.8% of the company's stock are short sold.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of ESP. Citadel Advisors LLC raised its position in Espey Mfg. & Electronics by 10.0% in the 4th quarter. Citadel Advisors LLC now owns 8,299 shares of the company's stock valued at $250,000 after buying an additional 756 shares during the last quarter. Secure Asset Management LLC raised its position in Espey Mfg. & Electronics by 37.9% in the 1st quarter. Secure Asset Management LLC now owns 9,195 shares of the company's stock valued at $249,000 after buying an additional 2,528 shares during the last quarter. Copeland Capital Management LLC acquired a new stake in Espey Mfg. & Electronics in the 1st quarter valued at approximately $56,000. Finally, De Lisle Partners LLP raised its position in Espey Mfg. & Electronics by 11.1% in the 1st quarter. De Lisle Partners LLP now owns 50,023 shares of the company's stock valued at $1,351,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 36.65% of the company's stock.

Espey Mfg. & Electronics Trading Up 3.1%

Shares of NYSEAMERICAN ESP traded up $1.39 during mid-day trading on Friday, reaching $45.99. 85,485 shares of the company's stock were exchanged, compared to its average volume of 34,789. The firm has a market capitalization of $134.29 million, a price-to-earnings ratio of 15.33 and a beta of 0.16. The business has a fifty day simple moving average of $47.55 and a 200 day simple moving average of $38.94. Espey Mfg. & Electronics has a twelve month low of $22.50 and a twelve month high of $55.00.

Espey Mfg. & Electronics Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 19th will be given a $0.75 dividend. This represents a yield of 217.0%. The ex-dividend date of this dividend is Friday, September 19th. Espey Mfg. & Electronics's dividend payout ratio (DPR) is currently 40.82%.

Espey Mfg. & Electronics Company Profile

Espey Manufacturing & Electronics Corp. is a power electronics design and original equipment manufacturing company, which engages in developing and delivering products for use in military and severe environment applications. Its products include power supplies, converters, transformers, filters, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, and antennas.