Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $58.76 and traded as low as $56.36. Espey Mfg. & Electronics shares last traded at $56.57, with a volume of 71,193 shares.

Analyst Ratings Changes

Separately, Freedom Capital lowered Espey Mfg. & Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Espey Mfg. & Electronics Price Performance

The stock has a market capitalization of $169.71 million, a P/E ratio of 14.93 and a beta of 0.34. The company’s 50 day simple moving average is $60.91 and its two-hundred day simple moving average is $58.76.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last posted its earnings results on Tuesday, May 12th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. The company had revenue of $11.42 million during the quarter, compared to analysts’ expectations of $13.20 million. Espey Mfg. & Electronics had a net margin of 25.50% and a return on equity of 20.38%.

Espey Mfg. & Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 15th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is currently 40.82%.

Insiders Place Their Bets

In other Espey Mfg. & Electronics news, CEO David A. Oneil sold 2,500 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $67.71, for a total value of $169,275.00. Following the transaction, the chief executive officer owned 13,750 shares of the company’s stock, valued at approximately $931,012.50. The trade was a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Helmetag sold 1,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $63.66, for a total value of $63,660.00. Following the sale, the director owned 23,169 shares in the company, valued at $1,474,938.54. The trade was a 4.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 11,100 shares of company stock worth $727,674. 5.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of hedge funds have recently added to or reduced their stakes in ESP. Bank of America Corp DE increased its position in Espey Mfg. & Electronics by 356.3% in the 2nd quarter. Bank of America Corp DE now owns 1,232 shares of the company’s stock valued at $56,000 after acquiring an additional 962 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Espey Mfg. & Electronics during the third quarter worth approximately $67,000. JPMorgan Chase & Co. grew its stake in shares of Espey Mfg. & Electronics by 56,588.9% during the third quarter. JPMorgan Chase & Co. now owns 5,102 shares of the company’s stock valued at $202,000 after purchasing an additional 5,093 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Espey Mfg. & Electronics during the second quarter valued at approximately $211,000. Finally, Man Group plc acquired a new stake in shares of Espey Mfg. & Electronics in the third quarter valued at approximately $226,000. Institutional investors own 36.65% of the company’s stock.

Espey Mfg. & Electronics Company Profile

Espey Manufacturing & Electronics Corp., founded in 1961 and headquartered in Lowell, Massachusetts, specializes in the design, development and manufacture of precision electronic components and sensor systems. The company’s core product offerings include magnetostrictive transducers, torque and position sensors, wideband RF and microwave amplifiers, as well as high-reliability printed circuit boards and molded bus assemblies. These solutions are engineered to withstand harsh operating environments and meet stringent performance requirements.

Espey’s sensor technologies are employed in applications ranging from industrial automation and energy production to commercial and military aerospace platforms.