New York State Teachers Retirement System Acquires 5,700 Shares of Essendant Inc. (NASDAQ:ESND)
New York State Teachers Retirement System raised its stake in shares of Essendant Inc. (NASDAQ:ESND) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,599 shares of the company’s stock after buying an additional 5,700 shares during the period. New York State Teachers Retirement System owned 0.27% of Essendant worth $1,509,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in ESND. Acrospire Investment Management LLC boosted its stake in shares of Essendant by 1.5% in the first quarter. Acrospire Investment Management LLC now owns 6,981 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Essendant by 8.5% in the first quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock valued at $133,000 after buying an additional 684 shares during the last quarter. Louisiana State Employees Retirement System boosted 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 valued at $232,000 after buying an additional 400 shares during the last quarter. First Quadrant L P CA purchased a new stake in shares of Essendant during the first quarter valued at $243,000. Finally, Arizona State Retirement System boosted its stake in shares of Essendant by 2.6% in the first quarter. Arizona State Retirement System now owns 19,540 shares of the company’s stock valued at $296,000 after buying an additional 500 shares during the last quarter. 92.04% of the stock is currently owned by institutional investors.
Shares of Essendant Inc. (NASDAQ:ESND) opened at 14.66 on Friday. Essendant Inc. has a 12 month low of $13.36 and a 12 month high of $22.52. The stock’s market cap is $549.74 million. The firm’s 50-day moving average is $15.18 and its 200 day moving average is $16.90.
Essendant (NASDAQ:ESND) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.05. Essendant had a negative net margin of 2.67% and a positive return on equity of 6.81%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Essendant Inc. will post $1.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, September 14th. Essendant’s dividend payout ratio (DPR) is -14.47%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Tuesday, May 2nd. BidaskClub cut shares of Essendant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
In other Essendant news, insider Harry Dochelli sold 4,755 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $16.94, for a total transaction of $80,549.70. Following the transaction, the insider now owns 21,116 shares in the company, valued at $357,705.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
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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