Essendant (ESND) Hits New 12-Month Low at $8.74

Shares of Essendant Inc. (NASDAQ:ESND) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $8.74 and last traded at $9.03, with a volume of 242700 shares changing hands. The stock had previously closed at $8.97.

ESND has been the topic of several recent research reports. BidaskClub cut shares of Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. ValuEngine raised shares of Essendant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.50.

The company has a quick ratio of 1.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $337.38, a PE ratio of 16.61 and a beta of 1.21.

Essendant (NASDAQ:ESND) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s dividend payout ratio (DPR) is currently -7.67%.

A number of institutional investors have recently bought and sold shares of the stock. Pzena Investment Management LLC raised its position in Essendant by 23.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,325,038 shares of the company’s stock worth $56,961,000 after purchasing an additional 832,767 shares during the period. Vanguard Group Inc. grew its stake in Essendant by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,591,083 shares of the company’s stock worth $53,256,000 after acquiring an additional 115,071 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Essendant by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock worth $40,024,000 after acquiring an additional 281,356 shares in the last quarter. State Street Corp grew its stake in Essendant by 4.0% in the 2nd quarter. State Street Corp now owns 1,046,832 shares of the company’s stock worth $15,530,000 after acquiring an additional 40,450 shares in the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in Essendant in the 2nd quarter worth about $13,369,000. 96.54% of the stock is currently owned by institutional investors.

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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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