Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Drops 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) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 17,300 shares, a decline of 19.2% from the August 15th total of 21,400 shares. Based on an average daily trading volume, of 28,400 shares, the short-interest ratio is presently 0.6 days. Approximately 0.8% of the company's stock are sold short. Approximately 0.8% of the company's stock are sold short. Based on an average daily trading volume, of 28,400 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of Espey Mfg. & Electronics

A number of hedge funds have recently added to or reduced their stakes in ESP. Citadel Advisors LLC lifted its position in shares of Espey Mfg. & Electronics by 10.0% during 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 in the last quarter. Secure Asset Management LLC boosted its stake in shares of Espey Mfg. & Electronics by 37.9% during the first quarter. Secure Asset Management LLC now owns 9,195 shares of the company's stock valued at $249,000 after acquiring an additional 2,528 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Espey Mfg. & Electronics during the 1st quarter valued at about $56,000. Finally, De Lisle Partners LLP grew its position in shares of Espey Mfg. & Electronics by 11.1% in the 1st quarter. De Lisle Partners LLP now owns 50,023 shares of the company's stock worth $1,351,000 after acquiring an additional 5,000 shares in the last quarter. 36.65% of the stock is owned by hedge funds and other institutional investors.

Espey Mfg. & Electronics Trading Down 4.7%

Shares of ESP stock traded down $2.16 during trading on Monday, reaching $43.83. 23,571 shares of the company's stock traded hands, compared to its average volume of 23,283. The firm's 50-day moving average is $47.55 and its 200 day moving average is $38.94. The company has a market capitalization of $127.99 million, a P/E ratio of 14.25 and a beta of 0.16. Espey Mfg. & Electronics has a 1 year low of $22.50 and a 1 year high of $55.00.

Espey Mfg. & Electronics Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 19th will be issued a $0.75 dividend. This represents a dividend yield of 217.0%. The ex-dividend date of this dividend is Friday, September 19th. Espey Mfg. & Electronics's payout ratio is 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.