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

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

The firm’s market cap is $702.68 million. The company’s 50-day moving average is $22.73 and its 200-day moving average is $28.70.

Essendant (NASDAQ:ESND) last announced its earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by $0.28. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.82 EPS. On average, equities research analysts forecast that Essendant Inc. will post $2.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.56 annualized dividend and a yield of 2.97%.

In related news, COO Timothy P. Connolly sold 5,765 shares of the business’s stock in a transaction that occurred 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 directly owns 40,773 shares in the company, valued at $784,472.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

An institutional investor recently bought a new position in Essendant stock. Employees Retirement System of Texas bought a new stake in shares of Essendant Inc. (NASDAQ:ESND) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,000 shares of the company’s stock, valued at approximately $2,048,000. Employees Retirement System of Texas owned 0.17% of Essendant as of its most recent filing with the SEC.

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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