Citigroup Inc. Sells 5,983 Shares of Essendant Inc. (ESND)
Citigroup Inc. reduced its holdings in Essendant Inc. (NASDAQ:ESND) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,274 shares of the company’s stock after selling 5,983 shares during the period. Citigroup Inc. owned about 0.16% of Essendant worth $864,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its holdings in shares of Essendant by 77.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,344 shares of the company’s stock valued at $108,000 after acquiring an additional 3,204 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in shares of Essendant by 8.5% in the 1st quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock valued at $133,000 after acquiring an additional 684 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Essendant in the 2nd quarter valued at $163,000. Nisa Investment Advisors LLC boosted its holdings in shares of Essendant by 5.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock valued at $191,000 after acquiring an additional 700 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Essendant by 71.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,523 shares of the company’s stock valued at $215,000 after acquiring an additional 6,038 shares during the last quarter. 94.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Essendant Inc. (ESND) opened at 13.29 on Friday. Essendant Inc. has a 12-month low of $11.26 and a 12-month high of $22.52. The stock’s market capitalization is $498.76 million. The stock has a 50 day moving average of $12.32 and a 200 day moving average of $14.20.
Essendant (NASDAQ:ESND) last announced its earnings results on Wednesday, July 26th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.31 billion. Essendant had a negative net margin of 2.87% and a positive return on equity of 5.75%. The business’s revenue was down 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share. Equities research analysts anticipate that Essendant Inc. will post $1.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.21%. Essendant’s payout ratio is -13.73%.
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ESND has been the topic of several recent research reports. ValuEngine raised shares of Essendant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub downgraded shares of Essendant from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a report on Thursday, July 27th. Finally, Zacks Investment Research downgraded shares of Essendant from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.50.
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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