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

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

Espey Mfg. & Electronics Price Performance

ESP stock opened at $24.82 on Tuesday. The stock has a market capitalization of $67.76 million, a P/E ratio of 12.93 and a beta of 0.14. Espey Mfg. & Electronics has a fifty-two week low of $14.69 and a fifty-two week high of $27.32.

Espey Mfg. & Electronics Increases Dividend

The firm also recently declared 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 4.03%. This is an increase 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 presently 41.67%.

Institutional Investors Weigh In On Espey Mfg. & Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of ESP. Morgan Dempsey Capital Management LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $113,000. Perritt Capital Management Inc. raised its holdings in Espey Mfg. & Electronics by 66.7% during the 1st quarter. Perritt Capital Management Inc. now owns 5,500 shares of the company’s stock worth $139,000 after buying an additional 2,201 shares during the period. Adirondack Trust Co. raised its holdings in Espey Mfg. & Electronics by 7.2% during the 1st quarter. Adirondack Trust Co. now owns 6,373 shares of the company’s stock worth $161,000 after buying an additional 426 shares during the period. Ellsworth Advisors LLC acquired a new stake in Espey Mfg. & Electronics during the 2nd quarter worth about $476,000. Finally, Dimensional Fund Advisors LP raised its holdings in Espey Mfg. & Electronics by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after buying an additional 1,591 shares during the period. 36.65% of the stock is owned by institutional investors and hedge funds.

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.