QS Investors LLC Has $1.77 Million Stake in Essendant Inc. (ESND)
QS Investors LLC grew its position in Essendant Inc. (NASDAQ:ESND) by 77.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,489 shares of the company’s stock after purchasing an additional 52,090 shares during the period. QS Investors LLC owned about 0.32% of Essendant worth $1,772,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Numeric Investors LLC purchased a new stake in shares of Essendant in the second quarter valued at about $328,000. Voya Investment Management LLC raised its holdings in shares of Essendant by 435.3% in the second quarter. Voya Investment Management LLC now owns 93,683 shares of the company’s stock valued at $1,389,000 after purchasing an additional 76,181 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Essendant by 11.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock valued at $40,024,000 after purchasing an additional 281,356 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Essendant in the second quarter valued at about $310,000. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Essendant by 41.5% in the second quarter. Parametric Portfolio Associates LLC now owns 273,750 shares of the company’s stock valued at $4,060,000 after purchasing an additional 80,294 shares during the last quarter. Institutional investors own 94.09% of the company’s stock.
Several analysts have recently commented on the stock. BidaskClub downgraded shares of Essendant from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine downgraded shares of Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Essendant has a consensus rating of “Hold” and a consensus target price of $16.50.
Shares of Essendant Inc. (ESND) opened at 13.29 on Monday. The stock’s market cap is $498.76 million. Essendant Inc. has a 12-month low of $11.26 and a 12-month high of $22.52. The company’s 50-day moving average is $12.32 and its 200-day moving average is $14.20.
Essendant (NASDAQ:ESND) last issued its earnings results on Wednesday, July 26th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $0.55 EPS. Essendant’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that Essendant Inc. will post $1.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Thursday, December 14th. Essendant’s dividend payout ratio (DPR) is -13.73%.
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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