Public Employees Retirement System of Ohio raised its stake in shares of Essendant Inc. (NASDAQ:ESND) by 7.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,389 shares of the company’s stock after buying an additional 2,661 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.10% of Essendant worth $540,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Texas Permanent School Fund grew its position in shares of Essendant by 0.9% during the 2nd quarter. Texas Permanent School Fund now owns 27,379 shares of the company’s stock worth $406,000 after buying an additional 249 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Essendant by 5.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock worth $191,000 after buying an additional 700 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Essendant by 5.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 22,660 shares of the company’s stock worth $336,000 after buying an additional 1,250 shares during the period. Strs Ohio grew its position in shares of Essendant by 2.7% during the 2nd quarter. Strs Ohio now owns 49,400 shares of the company’s stock worth $732,000 after buying an additional 1,300 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Essendant by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,776 shares of the company’s stock worth $456,000 after buying an additional 1,333 shares during the period. Institutional investors own 93.59% of the company’s stock.
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Essendant Inc. (NASDAQ ESND) opened at $9.02 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02. Essendant Inc. has a 12-month low of $8.79 and a 12-month high of $22.52. The stock has a market capitalization of $339.26, a P/E ratio of 16.70 and a beta of 1.21.
Essendant (NASDAQ:ESND) last released its earnings results on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.30). The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s payout ratio is -7.67%.
ESND has been the subject of several analyst reports. ValuEngine upgraded Essendant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. TheStreet lowered Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered Essendant from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.50.
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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