Strs Ohio Buys 7,600 Shares of Essendant Inc. (ESND)
Strs Ohio lifted its stake in Essendant Inc. (NASDAQ:ESND) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,000 shares of the company’s stock after purchasing an additional 7,600 shares during the period. Strs Ohio owned 0.15% of Essendant worth $750,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ESND. Frontier Capital Management Co. LLC bought a new position in shares of Essendant in the 2nd quarter worth $13,369,000. Vanguard Group Inc. boosted its position in shares of Essendant by 9.1% in the 1st quarter. Vanguard Group Inc. now owns 3,476,012 shares of the company’s stock worth $52,662,000 after purchasing an additional 290,464 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Essendant by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock worth $40,024,000 after purchasing an additional 281,356 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Essendant by 95.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 449,739 shares of the company’s stock worth $6,671,000 after purchasing an additional 219,373 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Essendant by 30.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 630,638 shares of the company’s stock worth $9,353,000 after buying an additional 148,014 shares during the period. Institutional investors and hedge funds own 90.99% of the company’s stock.
Shares of Essendant Inc. (NASDAQ ESND) opened at $9.24 on Tuesday. The company has a market capitalization of $349.04, a price-to-earnings ratio of 17.18 and a beta of 1.21. Essendant Inc. has a 12 month low of $9.15 and a 12 month high of $22.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.02 and a current ratio of 2.04.
Essendant (NASDAQ:ESND) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.30). The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s payout ratio is presently -7.67%.
Several analysts recently commented on the company. Zacks Investment Research downgraded Essendant from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. BidaskClub downgraded Essendant from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine raised Essendant from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, TheStreet downgraded Essendant from a “c-” rating to a “d+” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.50.
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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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