Alliancebernstein L.P. lowered its position in shares of Essendant Inc. (NASDAQ:ESND) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,398 shares of the company’s stock after selling 222 shares during the period. Alliancebernstein L.P. owned about 0.18% of Essendant worth $1,006,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its stake in Essendant by 1.5% in the first quarter. Acrospire Investment Management LLC now owns 6,981 shares of the company’s stock worth $106,000 after buying an additional 100 shares in the last quarter. Mason Street Advisors LLC raised its stake in Essendant by 8.5% in the first quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock worth $133,000 after buying an additional 684 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Essendant by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock worth $232,000 after buying an additional 400 shares in the last quarter. First Quadrant L P CA purchased a new stake in Essendant during the first quarter worth about $243,000. Finally, Arizona State Retirement System raised its stake in Essendant by 2.6% in the first quarter. Arizona State Retirement System now owns 19,540 shares of the company’s stock worth $296,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.
Shares of Essendant Inc. (NASDAQ:ESND) opened at 11.50 on Friday. Essendant Inc. has a 52-week low of $11.26 and a 52-week high of $22.52. The firm has a 50-day moving average of $13.11 and a 200 day moving average of $15.72. The company’s market capitalization is $431.58 million.
Essendant (NASDAQ:ESND) last announced its earnings results on Wednesday, July 26th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.37 by $0.09. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.31 billion. Essendant had a positive return on equity of 5.75% and a negative net margin of 2.87%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the business posted $0.55 earnings per share. On average, analysts anticipate that Essendant Inc. will post $1.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.56 annualized dividend and a yield of 4.87%. Essendant’s dividend payout ratio (DPR) is currently -13.73%.
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A number of brokerages recently commented on ESND. BidaskClub downgraded shares of Essendant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Essendant from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.33.
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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