Goldman Sachs Group Inc. increased its holdings in Essendant Inc (NASDAQ:ESND) by 11.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 271,834 shares of the company’s stock after purchasing an additional 28,786 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Essendant were worth $2,520,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Stone Ridge Asset Management LLC bought a new position in Essendant in the fourth quarter worth approximately $360,000. Deutsche Bank AG increased its position in shares of Essendant by 58.6% during the fourth quarter. Deutsche Bank AG now owns 843,661 shares of the company’s stock worth $7,818,000 after purchasing an additional 311,836 shares in the last quarter. Jefferies Group LLC acquired a new position in shares of Essendant during the fourth quarter worth $124,000. BlueCrest Capital Management Ltd acquired a new position in shares of Essendant during the fourth quarter worth $255,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Essendant during the fourth quarter worth $547,000. 97.06% of the stock is owned by institutional investors.
Separately, BidaskClub raised Essendant from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th.
Shares of ESND stock opened at $8.60 on Friday. The firm has a market cap of $370.65, a PE ratio of 14.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.99 and a current ratio of 2.17. 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 was paid on Friday, April 13th. Stockholders of record on Thursday, March 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend was 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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