New York State Teachers Retirement System reduced its stake in shares of Essendant Inc. (NASDAQ:ESND) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 105,557 shares of the company’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Essendant were worth $3,226,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in ESND. Los Angeles Capital Management & Equity Research Inc. increased its position in Essendant by 115.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,960 shares of the company’s stock valued at $1,212,000 after buying an additional 20,381 shares during the period. TIAA CREF Investment Management LLC increased its position in Essendant by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 124,359 shares of the company’s stock valued at $3,971,000 after buying an additional 395 shares during the period. Prudential Financial Inc. increased its position in Essendant by 117.7% in the first quarter. Prudential Financial Inc. now owns 242,330 shares of the company’s stock valued at $7,738,000 after buying an additional 131,037 shares during the period. BlackRock Inc. increased its position 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 during the period. Finally, BlackRock Group LTD increased its position in Essendant by 8.4% in the first quarter. BlackRock Group LTD now owns 51,719 shares of the company’s stock valued at $1,651,000 after buying an additional 3,990 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.
Essendant Inc. (NASDAQ:ESND) traded down 2.83% during midday trading on Tuesday, hitting $18.89. The company had a trading volume of 108,014 shares. The stock’s 50-day moving average price is $19.58 and its 200-day moving average price is $26.57. The stock’s market cap is $704.54 million. Essendant Inc. has a 52-week low of $18.56 and a 52-week high of $36.96.
Essendant (NASDAQ:ESND) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.28. The company earned $1.35 billion during the quarter, compared to analyst estimates of $1.36 billion. Essendant had a negative net margin of 0.72% and a positive return on equity of 13.75%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. On average, equities research analysts expect that Essendant Inc. will post $2.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend 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 Essendant from a “hold” rating to a “strong sell” rating in a report on Monday, July 25th.
In other Essendant news, COO Timothy P. Connolly sold 5,765 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $19.24, for a total transaction of $110,918.60. Following the transaction, the chief operating officer now owns 40,773 shares in the company, valued at approximately $784,472.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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