Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESPFree Report) in a research report released on Saturday morning. The brokerage issued a strong-buy rating on the stock.

Espey Mfg. & Electronics Stock Performance

Shares of ESP opened at $29.50 on Friday. The firm has a market cap of $80.54 million, a PE ratio of 15.36 and a beta of 0.14. Espey Mfg. & Electronics has a 1-year low of $14.69 and a 1-year high of $32.00.

Espey Mfg. & Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 20th. This is an increase from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 3.39%. Espey Mfg. & Electronics’s payout ratio is currently 52.08%.

Insider Activity at Espey Mfg. & Electronics

In other Espey Mfg. & Electronics news, insider Peggy A. Murphy sold 1,353 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $29.50, for a total value of $39,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Morgan Dempsey Capital Management LLC acquired a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth about $113,000. Perritt Capital Management Inc. raised its position in shares of Espey Mfg. & Electronics by 66.7% during the 1st 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. Adirondack Trust Co. raised its position in shares of Espey Mfg. & Electronics by 7.2% during the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after purchasing an additional 426 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Espey Mfg. & Electronics during the 2nd quarter worth about $476,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 36.65% of the company’s stock.

About Espey Mfg. & Electronics

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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.

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