StockNews.com Upgrades Espey Mfg. & Electronics (NYSEAMERICAN:ESP) to “Buy”

StockNews.com upgraded shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) from a hold rating to a buy rating in a research report released on Sunday.

Espey Mfg. & Electronics Price Performance

Shares of NYSEAMERICAN ESP opened at $28.86 on Friday. The firm has a market cap of $78.79 million, a P/E ratio of 15.03 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 business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were paid a dividend of $0.25 per share. This is a boost 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 3.47%. The ex-dividend date of this dividend was Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio is 52.08%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC increased its position in Espey Mfg. & Electronics by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock valued at $2,370,000 after buying an additional 4,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock valued at $1,841,000 after buying an additional 1,591 shares in the last quarter. Ellsworth Advisors LLC acquired a new position in shares of Espey Mfg. & Electronics in the second quarter valued at about $476,000. Adirondack Trust Co. increased its holdings in shares of Espey Mfg. & Electronics by 7.2% in the first quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock valued at $161,000 after purchasing an additional 426 shares during the period. Finally, Perritt Capital Management Inc. increased its holdings in shares of Espey Mfg. & Electronics by 66.7% in the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock valued at $139,000 after purchasing an additional 2,201 shares during the period. 36.65% of the stock is owned by institutional investors and hedge funds.

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.