Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) Sees Large Decline in Short Interest

Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP - Get Free Report) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 4,200 shares, a decline of 16.0% from the January 31st total of 5,000 shares. Based on an average trading volume of 18,200 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company's stock are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Espey Mfg. & Electronics from a "buy" rating to a "strong-buy" rating in a report on Thursday, November 21st.

Hedge Funds Weigh In On Espey Mfg. & Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in ESP. De Lisle Partners LLP boosted its position in shares of Espey Mfg. & Electronics by 7.5% during the third quarter. De Lisle Partners LLP now owns 43,114 shares of the company's stock worth $1,298,000 after buying an additional 3,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Espey Mfg. & Electronics by 55.3% during the third quarter. Geode Capital Management LLC now owns 23,907 shares of the company's stock worth $719,000 after buying an additional 8,511 shares during the period. Ellsworth Advisors LLC boosted its position in shares of Espey Mfg. & Electronics by 5.1% during the fourth quarter. Ellsworth Advisors LLC now owns 25,211 shares of the company's stock worth $760,000 after buying an additional 1,234 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Espey Mfg. & Electronics during the fourth quarter worth approximately $500,000. Finally, American Century Companies Inc. bought a new stake in Espey Mfg. & Electronics during the fourth quarter worth approximately $258,000. 36.65% of the stock is currently owned by institutional investors and hedge funds.

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Espey Mfg. & Electronics Stock Down 0.8 %

ESP stock traded down $0.21 during midday trading on Friday, reaching $26.00. The company had a trading volume of 13,408 shares, compared to its average volume of 15,034. Espey Mfg. & Electronics has a fifty-two week low of $20.20 and a fifty-two week high of $33.00. The company has a market cap of $72.80 million, a P/E ratio of 10.61 and a beta of 0.13.

Espey Mfg. & Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 20th were paid a $0.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.00 dividend on an annualized basis and a yield of 3.85%. Espey Mfg. & Electronics's payout ratio is currently 40.82%.

Espey Mfg. & Electronics Company Profile

Espey Manufacturing & Electronics Corp. is a power electronics design and original equipment manufacturing company, which engages in developing and delivering products for use in military and severe environment applications. Its products include power supplies, converters, transformers, filters, magnetic components, power distribution equipment, uninterruptible power supply (UPS) systems, and antennas.