State of Tennessee Treasury Department held its position in shares of Essendant Inc. (NASDAQ:ESND) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,892 shares of the company’s stock at the close of the second quarter. State of Tennessee Treasury Department owned approximately 0.09% of Essendant worth $517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESND. Frontier Capital Management Co. LLC purchased a new position in Essendant in the second quarter valued at approximately $13,369,000. Vanguard Group Inc. raised its holdings in Essendant by 9.1% in the first quarter. Vanguard Group Inc. now owns 3,476,012 shares of the company’s stock valued at $52,662,000 after buying an additional 290,464 shares during the period. Dimensional Fund Advisors LP raised its holdings in Essendant by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,417,531 shares of the company’s stock valued at $36,625,000 after buying an additional 185,555 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Essendant by 30.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 630,638 shares of the company’s stock valued at $9,353,000 after buying an additional 148,014 shares during the period. Finally, Federated Investors Inc. PA raised its holdings in Essendant by 488.5% in the second quarter. Federated Investors Inc. PA now owns 175,641 shares of the company’s stock valued at $2,605,000 after buying an additional 145,796 shares during the period. Hedge funds and other institutional investors own 94.09% of the company’s stock.

Shares of Essendant Inc. (NASDAQ:ESND) opened at 13.17 on Friday. Essendant Inc. has a 12 month low of $11.26 and a 12 month high of $22.52. The firm’s market cap is $494.26 million. The firm has a 50-day moving average of $11.88 and a 200 day moving average of $14.35.

Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, July 26th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.09). Essendant had a positive return on equity of 5.75% and a negative net margin of 2.87%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Essendant Inc. will post $1.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.56 annualized dividend and a yield of 4.25%. Essendant’s dividend payout ratio (DPR) is currently -13.73%.

Several research analysts recently commented on ESND shares. Zacks Investment Research lowered shares of Essendant from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 27th. BidaskClub lowered shares of Essendant from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. TheStreet lowered shares of Essendant from a “c-” rating to a “d+” rating in a report on Thursday, July 27th. Finally, ValuEngine upgraded shares of Essendant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Essendant presently has a consensus rating of “Hold” and a consensus price target of $17.33.

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About Essendant

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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Institutional Ownership by Quarter for Essendant (NASDAQ:ESND)

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