BlackRock Inc. reduced its holdings in shares of Essendant Inc (NASDAQ:ESND) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,683,598 shares of the company’s stock after selling 462,030 shares during the quarter. BlackRock Inc. owned approximately 12.44% of Essendant worth $61,917,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Essendant during the 2nd quarter worth approximately $116,000. Harvest Management LLC bought a new position in shares of Essendant in the second quarter valued at $132,000. Highbridge Capital Management LLC bought a new position in shares of Essendant in the first quarter valued at $140,000. Summit Trail Advisors LLC grew its stake in shares of Essendant by 757.5% in the first quarter. Summit Trail Advisors LLC now owns 209,185 shares of the company’s stock valued at $209,000 after buying an additional 184,791 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new position in shares of Essendant in the second quarter valued at $390,000. 83.57% of the stock is owned by institutional investors.
NASDAQ:ESND opened at $12.69 on Friday. Essendant Inc has a 1-year low of $7.20 and a 1-year high of $17.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.03 and a quick ratio of 1.01. The firm has a market capitalization of $482.60 million, a P/E ratio of 71.22 and a beta of 1.24.
Essendant (NASDAQ:ESND) last released its earnings results on Thursday, July 26th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Essendant had a negative net margin of 2.70% and a positive return on equity of 1.51%. The business had revenue of $1.25 billion during the quarter.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.56 annualized dividend and a dividend yield of 4.41%.
Several equities analysts recently weighed in on the stock. BidaskClub cut shares of Essendant from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. TheStreet raised shares of Essendant from a “d+” rating to a “c” rating in a research note on Friday, July 27th.
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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