ESCO Technologies Inc. (NYSE:ESE) Sees Significant Increase in Short Interest

ESCO Technologies Inc. (NYSE:ESE) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 364,100 shares, an increase of 6.6% from the August 31st total of 341,700 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average trading volume of 129,200 shares, the days-to-cover ratio is currently 2.8 days.

ESCO Technologies Stock Performance

ESCO Technologies stock traded down $1.00 during mid-day trading on Tuesday, hitting $127.98. 72,329 shares of the company’s stock traded hands, compared to its average volume of 127,817. The firm has a 50 day simple moving average of $119.68 and a two-hundred day simple moving average of $110.95. ESCO Technologies has a fifty-two week low of $94.59 and a fifty-two week high of $130.89. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 33.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.10 and a quick ratio of 1.39.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings data on Wednesday, August 7th. The scientific and technical instruments company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.03). The firm had revenue of $260.78 million for the quarter. ESCO Technologies had a return on equity of 8.82% and a net margin of 9.95%. On average, research analysts expect that ESCO Technologies will post 4.15 EPS for the current fiscal year.

ESCO Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Wednesday, October 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Wednesday, October 2nd. ESCO Technologies’s payout ratio is currently 8.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. acquired a new stake in shares of ESCO Technologies during the second quarter valued at about $36,000. Innealta Capital LLC acquired a new stake in shares of ESCO Technologies during the second quarter valued at about $50,000. YHB Investment Advisors Inc. acquired a new position in shares of ESCO Technologies in the first quarter worth approximately $56,000. TFO Wealth Partners LLC lifted its stake in shares of ESCO Technologies by 53,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 533 shares of the scientific and technical instruments company’s stock worth $62,000 after acquiring an additional 532 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ESCO Technologies in the first quarter worth approximately $126,000. Institutional investors own 95.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens increased their price objective on ESCO Technologies from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Friday.

ESCO Technologies Company Profile

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.