StockNews.com Downgrades Espey Mfg. & Electronics (NYSEAMERICAN:ESP) to Buy

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN:ESP traded down $0.87 during trading on Thursday, reaching $30.14. The stock had a trading volume of 37,413 shares, compared to its average volume of 13,401. Espey Mfg. & Electronics has a 1-year low of $16.50 and a 1-year high of $33.00. The firm has a market capitalization of $84.09 million, a PE ratio of 13.16 and a beta of 0.15.

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

Insider Activity

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. Corporate insiders own 6.78% of the company’s stock.

Institutional Trading of Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its position in Espey Mfg. & Electronics by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after acquiring an additional 4,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Espey Mfg. & Electronics by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after buying an additional 1,591 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of Espey Mfg. & Electronics by 7.5% in the third quarter. De Lisle Partners LLP now owns 43,114 shares of the company’s stock valued at $1,298,000 after buying an additional 3,000 shares in the last quarter. Ellsworth Advisors LLC grew its stake in Espey Mfg. & Electronics by 6.9% during the 3rd quarter. Ellsworth Advisors LLC now owns 23,977 shares of the company’s stock worth $721,000 after purchasing an additional 1,555 shares in the last quarter. Finally, Secure Asset Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the 3rd quarter valued at about $219,000. Hedge funds and other institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

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.