Short Interest in Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Increases By 103.1%

Key Points

• Short interest surged 103.1% to 8,616 shares as of March 31, giving a days-to-cover of about 0.5 and representing roughly 0.3% of the company's shares.
• Company insiders have been selling stock recently — CEO David A. Oneil sold 8,856 shares and insiders disposed of 14,498 shares over the last 90 days, leaving insiders with 5.54% ownership.
• Espey posted a quarterly beat with $0.99 EPS versus a $0.76 consensus and recently paid a $0.25 quarterly dividend (annualized $1.00, ~1.7% yield).

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totaling 8,616 shares, an increase of 103.1% from the March 15th total of 4,242 shares. Based on an average daily volume of 15,838 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.3% of the shares of the company are sold short.

Espey Mfg. & Electronics Stock Up 0.0%

ESP stock traded up $0.01 during trading hours on Friday, hitting $59.51. The company's stock had a trading volume of 14,886 shares, compared to its average volume of 14,553. The company has a market capitalization of $176.15 million, a PE ratio of 17.35 and a beta of 0.25. Espey Mfg. & Electronics has a 12 month low of $26.30 and a 12 month high of $62.15. The stock has a 50 day moving average price of $56.72 and a two-hundred day moving average price of $47.46.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.76 by $0.23. The company had revenue of $12.14 million during the quarter, compared to the consensus estimate of $12.40 million. Espey Mfg. & Electronics had a net margin of 23.37% and a return on equity of 19.09%.

Espey Mfg. & Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 20th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, March 20th. Espey Mfg. & Electronics's payout ratio is currently 40.82%.

Insider Activity

In related news, CEO David A. Oneil sold 8,856 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $50.00, for a total value of $442,800.00. Following the completion of the transaction, the chief executive officer owned 16,250 shares in the company, valued at $812,500. This represents a 35.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul J. Corr sold 2,400 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $57.90, for a total transaction of $138,960.00. Following the transaction, the director directly owned 20,439 shares in the company, valued at approximately $1,183,418.10. The trade was a 10.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 14,498 shares of company stock valued at $770,212. Company insiders own 5.54% of the company's stock.

Institutional Trading of Espey Mfg. & Electronics

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its holdings in shares of Espey Mfg. & Electronics by 12.7% during the 4th quarter. XTX Topco Ltd now owns 5,871 shares of the company's stock worth $277,000 after buying an additional 660 shares during the period. Man Group plc boosted its holdings in shares of Espey Mfg. & Electronics by 14.4% during the 4th quarter. Man Group plc now owns 6,538 shares of the company's stock worth $308,000 after buying an additional 824 shares during the period. Bridgeway Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the 4th quarter worth $217,000. Steel Partners Holdings L.P. bought a new stake in shares of Espey Mfg. & Electronics during the 4th quarter worth $784,000. Finally, First Trust Advisors LP boosted its holdings in shares of Espey Mfg. & Electronics by 6.3% during the 4th quarter. First Trust Advisors LP now owns 6,866 shares of the company's stock worth $324,000 after buying an additional 404 shares during the period. 36.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Freedom Capital upgraded shares of Espey Mfg. & Electronics to a "strong-buy" rating in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Espey Mfg. & Electronics Company Profile

Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company's core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.

Espey's sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.

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