Essendant Inc. (NASDAQ:ESND)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $18.81 and last traded at $19.17, with a volume of 71,362 shares trading hands. The stock had previously closed at $19.30.

Separately, Zacks Investment Research cut Essendant from a “hold” rating to a “sell” rating in a research note on Monday, April 25th.

The firm’s 50 day moving average is $24.13 and its 200 day moving average is $29.04. The company’s market capitalization is $717.22 million.

Essendant (NASDAQ:ESND) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by $0.28. The firm earned $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.82 EPS. Equities analysts expect that Essendant Inc. will post $2.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, September 13th.

Several institutional investors recently made changes to their positions in ESND. Matarin Capital Management LLC acquired a new position in Essendant during the fourth quarter valued at approximately $6,141,000. Dimensional Fund Advisors LP boosted its position in Essendant by 13.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,850,633 shares of the company’s stock valued at $60,164,000 after buying an additional 219,790 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in Essendant during the fourth quarter valued at approximately $2,048,000.

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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