Essendant Inc. (ESND) Hits New 1-Year Low at $19.50
Essendant Inc. (NASDAQ:ESND) hit a new 52-week low during trading on Tuesday . The stock traded as low as $19.50 and last traded at $19.58, with a volume of 155,760 shares trading hands. The stock had previously closed at $20.08.
Separately, Zacks Investment Research downgraded Essendant from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th.
The firm’s market cap is $726.55 million. The firm’s 50-day moving average is $28.63 and its 200-day moving average is $29.98.
Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.28. During the same period last year, the company earned $0.82 earnings per share. The company earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Essendant’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts predict that Essendant Inc. will post $2.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.56 dividend on an annualized basis and a yield of 2.79%.
Several large investors have recently added to or reduced their stakes in ESND. Whittier Trust Co. boosted its stake in Essendant by 1.1% in the fourth quarter. Whittier Trust Co. now owns 31,032 shares of the company’s stock valued at $1,009,000 after buying an additional 325 shares during the period. CNA Financial Corp boosted its stake in Essendant by 39.1% in the fourth quarter. CNA Financial Corp now owns 42,900 shares of the company’s stock valued at $1,394,000 after buying an additional 12,050 shares during the period. GAM Holding AG boosted its stake in Essendant by 18.2% in the fourth quarter. GAM Holding AG now owns 48,770 shares of the company’s stock valued at $1,586,000 after buying an additional 7,520 shares during the period. New York State Common Retirement Fund boosted its stake in Essendant by 0.5% in the fourth quarter. New York State Common Retirement Fund now owns 54,018 shares of the company’s stock valued at $1,756,000 after buying an additional 264 shares during the period. Finally, Bragg Financial Advisors Inc boosted its stake in Essendant by 27.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 58,556 shares of the company’s stock valued at $1,904,000 after buying an additional 12,606 shares during the period.
Essendant Inc, formerly United Stationers Inc, is a wholesale distributor of workplace essentials. The Company stocks an assortment of over 160,000 products in categories, including technology products, traditional office products, office furniture, janitorial and breakroom supplies, industrial supplies, and automotive aftermarket tools and equipment.
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