Espey Mfg. & Electronics (ESP) Projected to Post Quarterly Earnings on Wednesday

Key Points

• Espey Mfg. & Electronics is expected to report quarterly results after Wednesday’s market close, with analysts forecasting earnings of $0.96 per share on $14.80 million in revenue.
• ESP shares opened at $63.09, while the stock carries a consensus “Hold” rating after Freedom Capital downgraded it from “strong buy.”
• Company insiders sold 8,550 shares worth approximately $558,454 over the past three months, while institutional investors own 36.65% of the stock.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP - Get Free Report) is anticipated to announce its results after the market closes on Wednesday, September 16th. Analysts expect the company to post earnings of $0.96 per share and revenue of $14.80 million for the quarter.

Espey Mfg. & Electronics Trading Down 0.4%

ESP stock opened at $63.09 on Wednesday. Espey Mfg. & Electronics has a 1-year low of $36.00 and a 1-year high of $74.77. The business's 50 day moving average is $61.35 and its 200-day moving average is $61.10. The firm has a market cap of $189.27 million, a P/E ratio of 16.65 and a beta of 0.37.

Wall Street Analyst Weigh In

Separately, Freedom Capital lowered Espey Mfg. & Electronics from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Insider Activity at Espey Mfg. & Electronics

In related news, Director Paul J. Corr sold 2,550 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $65.89, for a total value of $168,019.50. Following the completion of the transaction, the director owned 20,439 shares in the company, valued at $1,346,725.71. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carl Helmetag sold 1,000 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the transaction, the director directly owned 23,169 shares in the company, valued at approximately $1,474,938.54. This represents a 4.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 8,550 shares of company stock valued at $558,454 over the last three months. 5.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ESP. XTX Topco Ltd raised its position in shares of Espey Mfg. & Electronics by 12.7% during the fourth quarter. XTX Topco Ltd now owns 5,871 shares of the company's stock worth $277,000 after acquiring an additional 660 shares during the last quarter. Man Group plc boosted its holdings in Espey Mfg. & Electronics by 14.4% in the fourth quarter. Man Group plc now owns 6,538 shares of the company's stock valued at $308,000 after acquiring an additional 824 shares during the last quarter. Bridgeway Capital Management LLC acquired a new stake in Espey Mfg. & Electronics in the fourth quarter worth about $217,000. Steel Partners Holdings L.P. acquired a new stake in Espey Mfg. & Electronics in the fourth quarter worth about $784,000. Finally, First Trust Advisors LP increased its position in Espey Mfg. & Electronics by 6.3% in the fourth quarter. First Trust Advisors LP now owns 6,866 shares of the company's stock worth $324,000 after purchasing an additional 404 shares during the period. 36.65% of the stock is currently owned by institutional investors.

About Espey Mfg. & Electronics

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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