Essendant Inc. (NASDAQ:ESND) Stake Maintained by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky held its position in Essendant Inc. (NASDAQ:ESND) during the first quarter, Holdings Channel reports. The firm owned 13,800 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Essendant were worth $209,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Lapides Asset Management LLC boosted its position in Essendant by 10.3% in the first quarter. Lapides Asset Management LLC now owns 39,600 shares of the company’s stock valued at $600,000 after buying an additional 3,700 shares during the period. CNA Financial Corp raised its stake in shares of Essendant by 48.4% in the first quarter. CNA Financial Corp now owns 92,260 shares of the company’s stock worth $1,398,000 after buying an additional 30,075 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Essendant by 15.3% in the first quarter. Tudor Investment Corp ET AL now owns 27,100 shares of the company’s stock worth $411,000 after buying an additional 3,600 shares in the last quarter. State Street Corp raised its stake in shares of Essendant by 14.3% in the first quarter. State Street Corp now owns 1,006,382 shares of the company’s stock worth $15,243,000 after buying an additional 125,536 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Essendant by 29.7% in the first quarter. Bank of America Corp DE now owns 93,923 shares of the company’s stock worth $1,423,000 after buying an additional 21,486 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company’s stock.
Essendant Inc. (NASDAQ:ESND) traded down 1.11% during mid-day trading on Friday, reaching $11.60. The company had a trading volume of 308,905 shares. The stock has a 50-day moving average of $13.55 and a 200 day moving average of $16.05. Essendant Inc. has a 12-month low of $11.47 and a 12-month high of $22.52. The company’s market capitalization is $435.34 million.
Essendant (NASDAQ:ESND) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.09. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a negative net margin of 2.87% and a positive return on equity of 5.75%. Essendant’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.55 earnings per share. On average, analysts expect that Essendant Inc. will post $1.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.83%. The ex-dividend date is Thursday, September 14th. Essendant’s dividend payout ratio (DPR) is presently -13.73%.
A number of brokerages recently issued reports on ESND. BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday. Zacks Investment Research lowered Essendant from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average price target of $17.33.
Essendant Inc (Essendant) is a wholesale distributor of workplace items. The Company’s product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture.
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