Essendant Inc. (NASDAQ:ESND)’s share price fell 1.7% on Friday . The company traded as low as $9.59 and last traded at $10.00. 267,601 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 250,832 shares. The stock had previously closed at $9.83.

ESND has been the subject of a number of research analyst reports. ValuEngine raised shares of Essendant from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet downgraded shares of Essendant from a “c-” rating to a “d+” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of Essendant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $16.50.

The firm’s market cap is $370.04 million. The stock’s 50 day moving average is $12.67 and its 200 day moving average is $14.00.

Essendant (NASDAQ:ESND) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30). Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the previous year, the business posted $0.57 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Essendant Inc. will post $1.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date of this dividend is Thursday, December 14th. Essendant’s dividend payout ratio is presently -7.67%.

A number of hedge funds have recently bought and sold shares of ESND. State of Alaska Department of Revenue raised its stake in shares of Essendant by 77.4% during the second quarter. State of Alaska Department of Revenue now owns 7,344 shares of the company’s stock valued at $108,000 after purchasing an additional 3,204 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Essendant by 8.5% during the first quarter. Mason Street Advisors LLC now owns 8,762 shares of the company’s stock valued at $133,000 after purchasing an additional 684 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of Essendant during the second quarter valued at about $163,000. Cubist Systematic Strategies LLC bought a new stake in shares of Essendant during the second quarter valued at about $179,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Essendant by 5.7% during the second quarter. Nisa Investment Advisors LLC now owns 12,900 shares of the company’s stock valued at $191,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 94.33% of the company’s stock.

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Essendant Company Profile

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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