Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Short Interest Up 57.1% in October

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 13,200 shares, an increase of 57.1% from the October 15th total of 8,400 shares. Based on an average trading volume of 16,100 shares, the short-interest ratio is presently 0.8 days. Approximately 0.7% of the company’s shares are sold short.

Espey Mfg. & Electronics Trading Down 2.8 %

Espey Mfg. & Electronics stock traded down $0.87 during mid-day trading on Thursday, reaching $30.14. The company’s stock had a trading volume of 37,413 shares, compared to its average volume of 13,401. Espey Mfg. & Electronics has a 12-month low of $16.50 and a 12-month high of $33.00. The firm has a market capitalization of $84.09 million, a price-to-earnings ratio of 13.16 and a beta of 0.15.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last released its quarterly earnings data on Friday, September 27th. The company reported $0.73 earnings per share for the quarter. Espey Mfg. & Electronics had a net margin of 15.01% and a return on equity of 14.95%. The business had revenue of $11.61 million during the quarter.

Espey Mfg. & Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 20th were given a dividend of $0.25 per share. This is a positive change from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Friday, September 20th. Espey Mfg. & Electronics’s payout ratio is 43.67%.

Insiders Place Their Bets

In other news, insider Peggy A. Murphy sold 1,018 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total value of $29,929.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.78% of the company’s stock.

Institutional Trading of Espey Mfg. & Electronics

Hedge funds have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the 2nd quarter worth $113,000. Perritt Capital Management Inc. lifted its stake in Espey Mfg. & Electronics by 66.7% in the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after purchasing an additional 2,201 shares during the last quarter. Secure Asset Management LLC bought a new stake in Espey Mfg. & Electronics in the third quarter worth $219,000. Ellsworth Advisors LLC bought a new stake in Espey Mfg. & Electronics in the second quarter worth $476,000. Finally, De Lisle Partners LLP lifted its stake in Espey Mfg. & Electronics by 7.5% in the third quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock worth $1,298,000 after purchasing an additional 3,000 shares during the last quarter. 36.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Espey Mfg. & Electronics in a research report on Saturday, October 5th. They issued a “strong-buy” rating on the stock.

About Espey Mfg. & Electronics

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications.