Espey Mfg. & Electronics (NYSEAMERICAN:ESP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Espey Mfg. & Electronics (NYSEAMERICAN:ESP) in a research report sent to investors on Tuesday. The brokerage issued a buy rating on the stock.

Espey Mfg. & Electronics Trading Up 3.3 %

Espey Mfg. & Electronics stock opened at $25.45 on Tuesday. The stock has a market capitalization of $69.48 million, a price-to-earnings ratio of 13.26 and a beta of 0.14. Espey Mfg. & Electronics has a twelve month low of $14.69 and a twelve month high of $27.32.

Espey Mfg. & Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.93%. This is a positive change 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 large investors have recently added to or reduced their stakes in ESP. Morgan Dempsey Capital Management LLC acquired a new position in shares of Espey Mfg. & Electronics in the second quarter valued at about $113,000. Perritt Capital Management Inc. increased its holdings in shares of Espey Mfg. & Electronics by 66.7% during the first quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after purchasing an additional 2,201 shares during the period. Adirondack Trust Co. raised its position 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 buying an additional 426 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in shares of Espey Mfg. & Electronics in the second quarter valued at approximately $476,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 buying an additional 1,591 shares during the period. Institutional investors own 36.65% of the company’s stock.

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.