California Public Employees Retirement System grew its position in Essendant Inc (NASDAQ:ESND) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,960 shares of the company’s stock after acquiring an additional 31,054 shares during the quarter. California Public Employees Retirement System owned about 0.68% of Essendant worth $2,382,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new position in shares of Essendant in the fourth quarter valued at approximately $118,000. Aperio Group LLC lifted its position in shares of Essendant by 151.1% in the fourth quarter. Aperio Group LLC now owns 68,073 shares of the company’s stock valued at $631,000 after acquiring an additional 40,962 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of 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 valued at $195,000 after acquiring an additional 8,146 shares in the last quarter. Strs Ohio lifted its position in shares of Essendant by 41.1% in the fourth quarter. Strs Ohio now owns 80,400 shares of the company’s stock valued at $745,000 after acquiring an additional 23,400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Essendant by 23.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 896,297 shares of the company’s stock valued at $8,309,000 after acquiring an additional 169,268 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.
Essendant stock opened at $8.24 on Thursday. The firm has a market capitalization of $305.05, a P/E ratio of -1.14 and a beta of 1.16. Essendant Inc has a 1 year low of $7.25 and a 1 year high of $18.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.17 and a quick ratio of 0.99.
Essendant (NASDAQ:ESND) last released its earnings results on Wednesday, February 21st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.17. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Essendant had a positive return on equity of 4.53% and a negative net margin of 5.30%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share.
The business also recently declared 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 dividend yield of 6.80%. Essendant’s dividend payout ratio is presently -7.69%.
Separately, BidaskClub downgraded Essendant from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th.
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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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