New York State Teachers Retirement System maintained its position in Essendant Inc (NASDAQ:ESND) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,899 shares of the company’s stock at the end of the fourth quarter. New York State Teachers Retirement System’s holdings in Essendant were worth $1,962,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Fund Advisors raised its position in Essendant by 8.6% in the third quarter. BlackRock Fund Advisors now owns 2,671,640 shares of the company’s stock worth $54,822,000 after buying an additional 211,572 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Essendant by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,231,976 shares of the company’s stock worth $46,649,000 after buying an additional 17,982 shares during the last quarter. Macquarie Group Ltd. raised its position in Essendant by 14.1% in the second quarter. Macquarie Group Ltd. now owns 1,291,786 shares of the company’s stock worth $39,477,000 after buying an additional 159,880 shares during the last quarter. Pzena Investment Management LLC raised its position in Essendant by 2.6% in the third quarter. Pzena Investment Management LLC now owns 1,203,461 shares of the company’s stock worth $24,695,000 after buying an additional 30,132 shares during the last quarter. Finally, State Street Corp raised its position in Essendant by 9.3% in the fourth quarter. State Street Corp now owns 880,846 shares of the company’s stock worth $18,412,000 after buying an additional 74,623 shares during the last quarter. 94.15% of the stock is owned by institutional investors and hedge funds.
Essendant Inc (NASDAQ:ESND) opened at 14.85 on Tuesday. The company has a market cap of $556.46 million, a price-to-earnings ratio of 8.58 and a beta of 1.34. Essendant Inc has a 12 month low of $14.41 and a 12 month high of $34.99. The stock has a 50 day moving average price of $18.82 and a 200 day moving average price of $19.27.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Monday, February 27th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.30. The company earned $1.25 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Essendant had a positive return on equity of 11.74% and a negative net margin of 0.55%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 EPS. Analysts anticipate that Essendant Inc will post $1.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 15th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, March 13th. This represents a $0.56 annualized dividend and a yield of 3.77%. Essendant’s dividend payout ratio is currently -68.29%.
ESND has been the subject of a number of recent analyst reports. Sidoti lowered Essendant from a “buy” rating to a “neutral” rating and set a $18.00 price target for the company. in a research report on Tuesday, February 28th. Zacks Investment Research raised Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 27th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $15.00 target price (down previously from $18.00) on shares of Essendant in a research report on Wednesday, March 1st.
In related news, SVP Eric A. Blanchard sold 3,900 shares of Essendant stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $22.07, for a total value of $86,073.00. Following the completion of the transaction, the senior vice president now owns 36,913 shares in the company, valued at $814,669.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.
Essendant Company Profile
Essendant Inc (Essendant), formerly United Stationers Inc, is a wholesale distributor of workplace items. The Company stocks an assortment of over 180,000 products in categories, including janitorial and breakroom supplies, technology products, traditional office products, industrial supplies, office furniture, and automotive aftermarket tools and equipment.
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