StockNews.com Begins Coverage on Espey Mfg. & Electronics (NYSEAMERICAN:ESP)

StockNews.com started coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) in a research note published on Tuesday. The firm issued a buy rating on the stock.

Espey Mfg. & Electronics Stock Down 5.7 %

Shares of ESP stock opened at $23.75 on Tuesday. The stock has a market cap of $64.84 million, a P/E ratio of 12.37 and a beta of 0.14. Espey Mfg. & Electronics has a 52 week low of $14.69 and a 52 week high of $27.32.

Espey Mfg. & Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. This is a boost from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio is currently 41.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ESP. Adirondack Trust Co. boosted its stake in Espey Mfg. & Electronics by 7.2% during the first quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after acquiring an additional 426 shares in the last quarter. Perritt Capital Management Inc. raised 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 last quarter. Ellsworth Advisors LLC purchased a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at about $476,000. Morgan Dempsey Capital Management LLC purchased a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at about $113,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Espey Mfg. & Electronics by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock valued at $1,841,000 after purchasing an additional 1,591 shares during the last quarter. 36.65% of the stock is owned by institutional investors.

About Espey Mfg. & Electronics

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.