Dimensional Fund Advisors LP Acquires 17,982 Shares of Essendant Inc (ESND)
Dimensional Fund Advisors LP raised its stake in shares of Essendant Inc (NASDAQ:ESND) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,231,976 shares of the company’s stock after buying an additional 17,982 shares during the period. Dimensional Fund Advisors LP owned approximately 6.04% of Essendant worth $46,649,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. State Street Corp increased its stake in shares of Essendant by 9.3% in the fourth quarter. State Street Corp now owns 880,846 shares of the company’s stock valued at $18,412,000 after buying an additional 74,623 shares during the period. Comerica Bank increased its stake in shares of Essendant by 92.6% in the fourth quarter. Comerica Bank now owns 116,902 shares of the company’s stock valued at $2,413,000 after buying an additional 56,206 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Essendant during the fourth quarter valued at about $3,325,000. United Services Automobile Association increased its stake in shares of Essendant by 17.7% in the third quarter. United Services Automobile Association now owns 411,710 shares of the company’s stock valued at $8,448,000 after buying an additional 61,880 shares during the period. Finally, Citadel Advisors LLC increased its stake in shares of Essendant by 22.5% in the third quarter. Citadel Advisors LLC now owns 209,470 shares of the company’s stock valued at $4,298,000 after buying an additional 38,532 shares during the period. 94.15% of the stock is currently owned by institutional investors.
Essendant Inc (NASDAQ:ESND) opened at 14.85 on Tuesday. The firm has a market cap of $556.46 million, a price-to-earnings ratio of 8.58 and a beta of 1.34. The stock has a 50 day moving average of $18.82 and a 200-day moving average of $19.27. Essendant Inc has a 52-week low of $14.41 and a 52-week high of $34.99.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Monday, February 27th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.30. The firm earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Essendant had a positive return on equity of 11.74% and a negative net margin of 0.55%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.81 earnings per share. On average, analysts expect that Essendant Inc will post $1.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.77%. Essendant’s dividend payout ratio (DPR) is currently -68.29%.
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Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Essendant from a “hold” rating to a “strong sell” rating in a report on Friday, March 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $15.00 price target (down previously from $18.00) on shares of Essendant in a report on Wednesday, March 1st. Finally, Sidoti downgraded shares of Essendant from a “buy” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Tuesday, February 28th.
In other news, SVP Eric A. Blanchard sold 3,900 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $22.07, for a total value of $86,073.00. Following the transaction, the senior vice president now directly owns 36,913 shares in the company, valued at approximately $814,669.91. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.
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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