Essendant Inc. (NASDAQ:ESND) announced a quarterly dividend on Friday, September 30th. Shareholders of record on Thursday, December 15th will be given a dividend of 0.14 per share on Friday, January 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Tuesday, December 13th.
Essendant (NASDAQ:ESND) traded up 1.43% during mid-day trading on Friday, reaching $20.52. The company’s stock had a trading volume of 346,843 shares. The stock’s market cap is $765.33 million. Essendant has a 52-week low of $18.56 and a 52-week high of $36.96. The company has a 50 day moving average of $19.50 and a 200-day moving average of $27.17.
Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by $0.28. Essendant had a negative net margin of 0.72% and a positive return on equity of 13.75%. The business earned $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities analysts forecast that Essendant will post $2.24 earnings per share for the current year.
Separately, Zacks Investment Research raised Essendant from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 21st.
In other news, COO Timothy P. Connolly sold 5,765 shares of the company’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $19.24, for a total transaction of $110,918.60. Following the completion of the transaction, the chief operating officer now directly owns 40,773 shares of the company’s stock, valued at $784,472.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ESND. BlackRock Investment Management LLC boosted its position in Essendant by 5.3% in the second quarter. BlackRock Investment Management LLC now owns 170,723 shares of the company’s stock valued at $5,217,000 after buying an additional 8,662 shares in the last quarter. BlackRock Inc. boosted its position in Essendant by 198.4% in the second quarter. BlackRock Inc. now owns 11,778 shares of the company’s stock valued at $361,000 after buying an additional 7,831 shares in the last quarter. BlackRock Fund Advisors boosted its position in Essendant by 2.7% in the second quarter. BlackRock Fund Advisors now owns 2,460,068 shares of the company’s stock valued at $75,180,000 after buying an additional 64,605 shares in the last quarter. BlackRock Group LTD boosted its position in Essendant by 5.0% in the second quarter. BlackRock Group LTD now owns 54,291 shares of the company’s stock valued at $1,658,000 after buying an additional 2,572 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Essendant by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 947,691 shares of the company’s stock valued at $28,961,000 after buying an additional 3,302 shares in the last quarter. 96.98% of the stock is owned by institutional investors.
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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