Lapides Asset Management LLC lessened its position in shares of Essendant Inc (NASDAQ:ESND) by 28.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,500 shares of the company’s stock after selling 13,600 shares during the period. Lapides Asset Management LLC owned 0.09% of Essendant worth $320,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. California Public Employees Retirement System raised its stake in Essendant by 13.7% during the fourth quarter. California Public Employees Retirement System now owns 256,960 shares of the company’s stock worth $2,382,000 after buying an additional 31,054 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Essendant in the fourth quarter worth $118,000. Aperio Group LLC grew its holdings in Essendant by 151.1% in the fourth quarter. Aperio Group LLC now owns 68,073 shares of the company’s stock worth $631,000 after purchasing an additional 40,962 shares during the period. Wedge Capital Management L L P NC grew its holdings in Essendant by 63.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 21,022 shares of the company’s stock worth $195,000 after purchasing an additional 8,146 shares during the period. Finally, Strs Ohio grew its holdings in Essendant by 41.1% in the fourth quarter. Strs Ohio now owns 80,400 shares of the company’s stock worth $745,000 after purchasing an additional 23,400 shares during the period. 96.72% of the stock is owned by institutional investors and hedge funds.
Shares of Essendant Inc (NASDAQ ESND) opened at $8.30 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.89. The company has a market cap of $312.18, a price-to-earnings ratio of 15.37 and a beta of 1.11. Essendant Inc has a twelve month low of $8.05 and a twelve month high of $22.52.
Separately, BidaskClub cut shares of Essendant from a “hold” rating to a “sell” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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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