Secure Asset Management LLC Buys Shares of 7,264 Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP)

Secure Asset Management LLC purchased a new position in shares of Espey Mfg. & Electronics Corp. (NYSEAMERICAN:ESP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,264 shares of the company’s stock, valued at approximately $219,000. Secure Asset Management LLC owned approximately 0.27% of Espey Mfg. & Electronics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Morgan Dempsey Capital Management LLC bought a new position in Espey Mfg. & Electronics in the 2nd quarter valued at approximately $113,000. Perritt Capital Management Inc. raised its stake 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 valued at $139,000 after acquiring an additional 2,201 shares during the last quarter. Ellsworth Advisors LLC bought a new position in shares of Espey Mfg. & Electronics during the second quarter valued at $476,000. Dimensional Fund Advisors LP lifted its holdings in shares of Espey Mfg. & Electronics by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 86,612 shares of the company’s stock worth $1,841,000 after purchasing an additional 1,591 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Espey Mfg. & Electronics by 3.7% in the second quarter. Renaissance Technologies LLC now owns 111,512 shares of the company’s stock worth $2,370,000 after purchasing an additional 4,000 shares during the last quarter. 36.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Espey Mfg. & Electronics in a report on Saturday, October 5th. They issued a “strong-buy” rating on the stock.

Espey Mfg. & Electronics Stock Performance

Espey Mfg. & Electronics stock opened at $31.00 on Friday. The firm has a market cap of $84.94 million, a P/E ratio of 13.54 and a beta of 0.15. Espey Mfg. & Electronics Corp. has a 12-month low of $14.96 and a 12-month high of $32.90.

Espey Mfg. & Electronics (NYSEAMERICAN:ESP) last issued its earnings results on Friday, September 27th. The company reported $0.73 EPS for the quarter. Espey Mfg. & Electronics had a return on equity of 14.95% and a net margin of 15.01%. The business had revenue of $11.61 million during the quarter.

Espey Mfg. & Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 20th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Espey Mfg. & Electronics’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, September 20th. Espey Mfg. & Electronics’s dividend payout ratio (DPR) is 43.67%.

Insider Transactions at Espey Mfg. & Electronics

In other news, insider Peggy A. Murphy sold 1,018 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $29.40, for a total value of $29,929.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.00% of the stock is currently owned by insiders.

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.