Dimensional Fund Advisors LP grew its position in Essendant Inc. (NASDAQ:ESND) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,698,887 shares of the company’s stock after purchasing an additional 281,356 shares during the period. Dimensional Fund Advisors LP owned about 7.19% of Essendant worth $40,024,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Texas Permanent School Fund grew its holdings in Essendant by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 27,379 shares of the company’s stock valued at $406,000 after buying an additional 249 shares during the last quarter. Arizona State Retirement System grew its holdings in Essendant by 2.6% in the 1st 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. Mason Street Advisors LLC grew its holdings in 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 buying an additional 684 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 buying an additional 700 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in Essendant by 5.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 22,660 shares of the company’s stock valued at $336,000 after buying an additional 1,250 shares during the last quarter. 90.99% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on ESND. ValuEngine lowered Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. BidaskClub downgraded Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, TheStreet downgraded Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Essendant currently has a consensus rating of “Hold” and an average target price of $16.50.
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Essendant Inc. (NASDAQ ESND) traded down $0.06 during midday trading on Friday, hitting $9.02. The stock had a trading volume of 199,000 shares, compared to its average volume of 281,782. The firm has a market cap of $341.52, a PE ratio of 16.82 and a beta of 1.21. Essendant Inc. has a one year low of $8.79 and a one year high of $22.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02.
Essendant (NASDAQ:ESND) last released its earnings results 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 firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.31 billion. Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the business posted $0.57 earnings per share.
The company also recently declared 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 is Thursday, December 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.21%. Essendant’s dividend payout ratio (DPR) is -7.67%.
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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