Essendant Inc. Plans Quarterly Dividend of $0.14 (ESND)
Essendant Inc. (NASDAQ:ESND) declared a quarterly dividend on Friday, September 30th. Stockholders of record on Thursday, December 15th will be paid a dividend of 0.14 per share on Friday, January 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, December 13th.
Essendant (NASDAQ:ESND) opened at 20.52 on Monday. The stock’s market cap is $765.33 million. The stock has a 50 day moving average price of $19.52 and a 200-day moving average price of $27.10. Essendant has a 52 week low of $18.56 and a 52 week high of $36.96.
Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.28. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Essendant had a positive return on equity of 13.75% and a negative net margin of 0.72%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 earnings per share. On average, equities analysts anticipate that Essendant will post $2.24 EPS for the current fiscal year.
In other Essendant news, COO Timothy P. Connolly sold 5,765 shares of the firm’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $19.24, for a total value of $110,918.60. Following the completion of the sale, the chief operating officer now directly owns 40,773 shares in the company, valued at $784,472.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in shares of Essendant by 1.5% in the second quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $201,000 after buying an additional 99 shares during the period. Arizona State Retirement System increased its position in shares of Essendant by 1.0% in the second quarter. Arizona State Retirement System now owns 19,340 shares of the company’s stock worth $591,000 after buying an additional 200 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Essendant by 0.7% in the second quarter. Alliancebernstein L.P. now owns 66,873 shares of the company’s stock worth $2,044,000 after buying an additional 475 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Essendant by 5.0% in the second quarter. Thrivent Financial for Lutherans now owns 17,970 shares of the company’s stock worth $549,000 after buying an additional 860 shares in the last quarter. Finally, Profund Advisors LLC increased its position in shares of Essendant by 8.0% in the second quarter. Profund Advisors LLC now owns 12,707 shares of the company’s stock worth $388,000 after buying an additional 937 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 21st.
Essendant Company Profile
Essendant Inc (Essendant), formerly United Stationers Inc, is a wholesale distributor of workplace items. The Company stocks an assortment of over 180,000 products in categories, including janitorial and breakroom supplies, technology products, traditional office products, industrial supplies, office furniture, and automotive aftermarket tools and equipment.
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