Essendant (ESND) Sets New 1-Year Low at $8.04

Essendant Inc (NASDAQ:ESND) reached a new 52-week low during trading on Tuesday . The stock traded as low as $8.04 and last traded at $8.48, with a volume of 237400 shares traded. The stock had previously closed at $8.48.

Separately, BidaskClub upgraded Essendant from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Essendant presently has a consensus rating of “Hold” and an average price target of $16.50.

The firm has a market cap of $318.95, a price-to-earnings ratio of -1.16 and a beta of 1.11. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.56 annualized dividend and a yield of 6.60%. Essendant’s payout ratio is -7.67%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESND. Pzena Investment Management LLC grew its stake in shares of Essendant by 17.0% during the 4th quarter. Pzena Investment Management LLC now owns 5,061,547 shares of the company’s stock valued at $46,921,000 after purchasing an additional 736,509 shares during the period. BlackRock Inc. grew its stake in shares of Essendant by 1.7% during the 4th quarter. BlackRock Inc. now owns 4,853,849 shares of the company’s stock valued at $44,995,000 after purchasing an additional 79,875 shares during the period. Vanguard Group Inc. grew its stake in shares of Essendant by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,591,083 shares of the company’s stock valued at $53,256,000 after purchasing an additional 115,071 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Essendant by 11.6% during the 2nd 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 period. Finally, State Street Corp grew its stake in shares of Essendant by 4.0% during the 2nd quarter. State Street Corp now owns 1,046,832 shares of the company’s stock valued at $15,530,000 after purchasing an additional 40,450 shares during the period. Institutional investors own 97.76% of the company’s stock.

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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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