Essendant Inc. (ESND) Stake Decreased by Capstone Asset Management Co.
Capstone Asset Management Co. reduced its stake in Essendant Inc. (NASDAQ:ESND) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,306 shares of the company’s stock after selling 690 shares during the period. Capstone Asset Management Co.’s holdings in Essendant were worth $286,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Essendant by 1.5% in the first quarter. Acrospire Investment Management LLC now owns 6,981 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the last quarter. Mason Street Advisors LLC increased its stake in Essendant by 8.5% in the first quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock valued at $133,000 after buying an additional 684 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Essendant by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock valued at $232,000 after buying an additional 400 shares during the last quarter. First Quadrant L P CA acquired a new stake in Essendant during the first quarter valued at approximately $243,000. Finally, Arizona State Retirement System increased its stake in Essendant by 2.6% in the first quarter. Arizona State Retirement System now owns 19,540 shares of the company’s stock valued at $296,000 after buying an additional 500 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Essendant Inc. (NASDAQ ESND) traded down 2.51% during mid-day trading on Tuesday, hitting $11.65. The stock had a trading volume of 31,771 shares. The firm has a 50 day moving average of $13.47 and a 200-day moving average of $15.91. The stock’s market cap is $437.21 million. Essendant Inc. has a one year low of $11.47 and a one year high of $22.52.
Essendant (NASDAQ:ESND) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.09. Essendant had a positive return on equity of 5.75% and a negative net margin of 2.87%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Equities research analysts expect that Essendant Inc. will post $1.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a yield of 4.69%. Essendant’s payout ratio is -13.73%.
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A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Essendant from a “strong sell” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research note on Tuesday, May 2nd. BidaskClub downgraded Essendant from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, TheStreet downgraded Essendant from a “c-” rating to a “d+” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus 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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