Essendant Inc. (ESND) Shares Bought by Whittier Trust Co.
Whittier Trust Co. raised its position in shares of Essendant Inc. (NASDAQ:ESND) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 31,413 shares of the company’s stock after buying an additional 381 shares during the period. Whittier Trust Co.’s holdings in Essendant were worth $960,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of ESND. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of 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 last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of 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 last quarter. Prudential Financial Inc. boosted its stake in shares of 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 last quarter. BlackRock Inc. boosted its stake in shares of 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 last quarter. Finally, BlackRock Group LTD boosted its stake in shares of 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 last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Essendant Inc. (NASDAQ:ESND) traded up 0.57% during mid-day trading on Monday, hitting $19.45. The stock had a trading volume of 77,256 shares. The stock’s market cap is $725.43 million. Essendant Inc. has a one year low of $18.56 and a one year high of $36.96. The firm has a 50 day moving average of $19.57 and a 200 day moving average of $26.71.
Essendant (NASDAQ:ESND) last posted its 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. Essendant had a negative net margin of 0.72% and a positive return on equity of 13.75%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business earned $0.82 earnings per share. Essendant’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts forecast that Essendant Inc. will post $2.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.56 annualized dividend and a yield of 2.88%. Essendant’s dividend payout ratio (DPR) is currently -52.34%.
Separately, Zacks Investment Research cut Essendant from a “hold” rating to a “strong sell” rating in a research note on Monday, July 25th.
In other news, COO Timothy P. Connolly sold 5,765 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $19.24, for a total value of $110,918.60. Following the sale, the chief operating officer now directly owns 40,773 shares of the company’s stock, valued at $784,472.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.
Essendant Company Profile
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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