Ameriprise Financial Inc. boosted its stake in Essendant Inc. (NASDAQ:ESND) by 2.5% during the second quarter, Holdings Channel reports. The institutional investor owned 196,837 shares of the company’s stock after buying an additional 4,725 shares during the period. Ameriprise Financial Inc. owned approximately 0.53% of Essendant worth $6,016,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of ESND. BlackRock Inc. boosted its stake in Essendant by 55.5% in the first quarter. BlackRock Inc. now owns 3,947 shares of the company’s stock valued at $126,000 after buying an additional 1,409 shares in the last quarter. Airain ltd purchased a new stake in Essendant during the second quarter valued at about $363,000. BNP Paribas Arbitrage SA boosted its stake in Essendant by 102.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,912 shares of the company’s stock valued at $395,000 after buying an additional 6,534 shares in the last quarter. Alpha Windward LLC purchased a new stake in Essendant during the second quarter valued at about $418,000. Finally, Strs Ohio boosted its stake in Essendant by 8.2% in the second quarter. Strs Ohio now owns 17,100 shares of the company’s stock valued at $522,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.
Essendant Inc. (NASDAQ:ESND) traded up 0.21% during mid-day trading on Wednesday, hitting $18.93. 13,448 shares of the stock traded hands. The company’s market cap is $706.03 million. Essendant Inc. has a 12 month low of $18.56 and a 12 month high of $36.96. The company’s 50 day moving average is $19.58 and its 200 day moving average is $26.51.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.28. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Essendant had a negative net margin of 0.72% and a positive return on equity of 13.75%. Essendant’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS. On average, analysts expect that Essendant Inc. will post $2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Thursday, December 15th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Tuesday, December 13th. Essendant’s payout ratio is -52.34%.
Separately, Zacks Investment Research cut shares of Essendant from a “hold” rating to a “strong sell” rating in a research note on Monday, July 25th.
In related news, COO Timothy P. Connolly sold 5,765 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $19.24, for a total transaction of $110,918.60. Following the sale, the chief operating officer now owns 40,773 shares of the company’s stock, valued at $784,472.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.
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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