Ellington Management Group LLC lifted its position in Essendant Inc (NASDAQ:ESND) by 40.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,500 shares of the company’s stock after purchasing an additional 12,000 shares during the period. Ellington Management Group LLC owned 0.11% of Essendant worth $385,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas purchased a new stake in Essendant during the fourth quarter worth $118,000. Jefferies Group LLC purchased a new stake in Essendant during the fourth quarter worth $124,000. Trexquant Investment LP purchased a new stake in Essendant during the third quarter worth $170,000. Wedge Capital Management L L P NC lifted its holdings in Essendant by 63.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 21,022 shares of the company’s stock worth $195,000 after buying an additional 8,146 shares during the period. Finally, KBC Group NV purchased a new stake in Essendant during the third quarter worth $220,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.
Separately, BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th.
Essendant stock traded up $0.16 during mid-day trading on Friday, reaching $8.40. 473,343 shares of the company were exchanged, compared to its average volume of 424,635. The firm has a market cap of $316.73, a P/E ratio of 12.54 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 2.17 and a debt-to-equity ratio of 0.99. Essendant Inc has a 12-month low of $7.25 and a 12-month high of $18.30.
Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.02) earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.67%. The ex-dividend date is Wednesday, March 14th.
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Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.
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