ESCO Technologies Inc. (NYSE:ESE) Sees Large Increase in Short Interest

ESCO Technologies Inc. (NYSE:ESE) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 208,500 shares, an increase of 23.9% from the February 28th total of 168,300 shares. Based on an average daily trading volume, of 136,100 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.8% of the shares of the company are short sold.

ESCO Technologies Price Performance

Shares of NYSE ESE traded up $2.09 during midday trading on Wednesday, hitting $160.76. The company had a trading volume of 114,234 shares, compared to its average volume of 127,110. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 37.74 and a beta of 1.11. ESCO Technologies has a twelve month low of $97.11 and a twelve month high of $171.28. The business has a 50-day simple moving average of $154.36 and a two-hundred day simple moving average of $141.30. The company has a quick ratio of 1.35, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

ESCO Technologies (NYSE:ESE) last posted its quarterly earnings results on Thursday, February 6th. The scientific and technical instruments company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.34. ESCO Technologies had a net margin of 10.44% and a return on equity of 9.91%. Equities research analysts anticipate that ESCO Technologies will post 5.65 earnings per share for the current year.

ESCO Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.20%. ESCO Technologies’s payout ratio is 7.51%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Benchmark boosted their price target on shares of ESCO Technologies from $150.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. StockNews.com cut ESCO Technologies from a “buy” rating to a “hold” rating in a research report on Friday, March 21st. Finally, Stephens reissued an “overweight” rating and issued a $175.00 price target on shares of ESCO Technologies in a report on Thursday, February 27th.

Hedge Funds Weigh In On ESCO Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESE. Wellington Management Group LLP increased its stake in shares of ESCO Technologies by 152.6% during the 4th quarter. Wellington Management Group LLP now owns 380,104 shares of the scientific and technical instruments company’s stock worth $50,634,000 after purchasing an additional 229,601 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ESCO Technologies by 12.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,852 shares of the scientific and technical instruments company’s stock valued at $9,172,000 after buying an additional 7,874 shares during the last quarter. Voloridge Investment Management LLC increased its position in ESCO Technologies by 35.5% during the fourth quarter. Voloridge Investment Management LLC now owns 48,005 shares of the scientific and technical instruments company’s stock worth $6,395,000 after buying an additional 12,577 shares in the last quarter. State of Wyoming increased its position in ESCO Technologies by 7.8% during the fourth quarter. State of Wyoming now owns 1,861 shares of the scientific and technical instruments company’s stock worth $248,000 after buying an additional 134 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of ESCO Technologies by 0.5% in the fourth quarter. Royal Bank of Canada now owns 240,952 shares of the scientific and technical instruments company’s stock worth $32,097,000 after acquiring an additional 1,317 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.

About ESCO Technologies

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.