Essendant Inc. Plans Quarterly Dividend of $0.14 (ESND)
Essendant Inc. (NASDAQ:ESND) declared a quarterly dividend on Friday, September 30th. Shareholders of record on Thursday, December 15th will be paid a dividend of 0.14 per share on Friday, January 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, December 13th.
Essendant (NASDAQ:ESND) opened at 20.52 on Monday. The company’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 firm’s 50 day moving average is $19.52 and its 200-day moving average is $27.10.
Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by $0.28. Essendant had a positive return on equity of 13.75% and a negative net margin of 0.72%. The business earned $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts predict that Essendant will post $2.24 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Essendant from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 21st.
In related news, COO Timothy P. Connolly sold 5,765 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $19.24, for a total transaction of $110,918.60. Following the transaction, the chief operating officer now directly owns 40,773 shares in the company, valued at approximately $784,472.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of ESND. C M Bidwell & Associates Ltd. bought a new stake in Essendant during the second quarter valued at about $155,000. Barclays PLC boosted its stake in Essendant by 1.5% in the second quarter. Barclays PLC now owns 6,599 shares of the company’s stock valued at $201,000 after buying an additional 99 shares during the period. BlackRock Inc. boosted its stake 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 during the period. Profund Advisors LLC boosted its stake in Essendant by 8.0% in the second quarter. Profund Advisors LLC now owns 12,707 shares of the company’s stock valued at $388,000 after buying an additional 937 shares during the period. Finally, A.R.T. Advisors LLC bought a new stake in Essendant during the second quarter valued at about $406,000. Institutional investors own 96.98% 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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