Strs Ohio boosted its position in shares of Essendant Inc. (NASDAQ:ESND) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,400 shares of the company’s stock after buying an additional 1,300 shares during the period. Strs Ohio owned 0.13% of Essendant worth $732,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Essendant by 41.8% in the fourth quarter. Teachers Advisors LLC now owns 86,455 shares of the company’s stock worth $1,807,000 after buying an additional 25,501 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Essendant by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock worth $232,000 after buying an additional 400 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Essendant by 1.1% in the first quarter. Nationwide Fund Advisors now owns 83,686 shares of the company’s stock worth $1,268,000 after buying an additional 933 shares during the last quarter. First Manhattan Co. increased its stake in shares of Essendant by 803.5% in the first quarter. First Manhattan Co. now owns 447,171 shares of the company’s stock worth $9,175,000 after buying an additional 397,680 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Essendant during the first quarter worth approximately $243,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
Essendant Inc. (NASDAQ ESND) opened at 11.31 on Tuesday. The stock’s market capitalization is $424.45 million. The firm has a 50-day moving average of $13.01 and a 200-day moving average of $15.58. Essendant Inc. has a one year low of $11.26 and a one year high of $22.52.
Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.09. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.31 billion. Essendant had a positive return on equity of 5.75% and a negative net margin of 2.87%. The company’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, equities research analysts forecast that Essendant Inc. will post $1.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, September 14th. Essendant’s dividend payout ratio is currently -13.73%.
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A number of equities research analysts recently commented on ESND shares. Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a research report on Tuesday, May 2nd. BidaskClub downgraded shares of Essendant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.33.
Essendant Company Profile
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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