Shares of Essendant Inc. (NASDAQ:ESND) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $18.74 and last traded at $18.80, with a volume of 90,267 shares traded. The stock had previously closed at $19.19.

Separately, Zacks Investment Research lowered Essendant from a “hold” rating to a “strong sell” rating in a report on Monday, July 25th.

The firm’s 50-day moving average is $23.05 and its 200-day moving average is $28.76. The company’s market cap is $701.93 million.

Essendant (NASDAQ:ESND) last released its earnings results on Wednesday, July 20th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.28. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.36 billion. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. Equities research analysts anticipate that Essendant Inc. will post $2.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, September 13th.

In other Essendant news, COO Timothy P. Connolly sold 5,765 shares of Essendant stock in a transaction on Friday, August 19th. The shares were sold at an average price of $19.24, for a total transaction of $110,918.60. Following the completion of the sale, the chief operating officer now owns 40,773 shares of the company’s stock, valued at approximately $784,472.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

An institutional investor recently bought a new position in Essendant stock. Employees Retirement System of Texas bought a new position in Essendant Inc. (NASDAQ:ESND) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 63,000 shares of the company’s stock, valued at approximately $2,048,000. Employees Retirement System of Texas owned about 0.17% of Essendant as of its most recent SEC filing.

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.