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Essendant Inc. (ESND) Stake Boosted by Strs Ohio
August 1st, 2016
Essendant logoStrs Ohio increased its position in Essendant Inc. (NASDAQ:ESND) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,100 shares of the company’s stock after buying an additional 1,300 shares during the period. Strs Ohio’s holdings in Essendant were worth $522,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Alpha Windward LLC bought a new stake in Essendant during the second quarter worth $418,000. BNP Paribas Arbitrage SA increased its position in Essendant by 102.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,912 shares of the company’s stock worth $395,000 after buying an additional 6,534 shares in the last quarter. Arizona State Retirement System increased its position in Essendant by 3.8% in the first quarter. Arizona State Retirement System now owns 19,140 shares of the company’s stock worth $611,000 after buying an additional 700 shares in the last quarter. Barclays PLC increased its position in Essendant by 1,200.0% in the first quarter. Barclays PLC now owns 6,500 shares of the company’s stock worth $202,000 after buying an additional 6,000 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Essendant by 9.3% in the first quarter. Wellington Management Group LLP now owns 2,819,324 shares of the company’s stock worth $90,020,000 after buying an additional 240,669 shares in the last quarter.
Essendant Inc. (NASDAQ:ESND) opened at 19.96 on Monday. Essendant Inc. has a 12-month low of $19.79 and a 12-month high of $37.24. The firm has a 50-day moving average of $28.96 and a 200-day moving average of $30.03. The firm’s market cap is $744.45 million.
Essendant (NASDAQ:ESND) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by $0.28. During the same quarter last year, the business earned $0.82 EPS. The business earned $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Essendant’s revenue for the quarter was up .9% on a year-over-year basis. On average, analysts expect that Essendant Inc. will post $2.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Tuesday, September 13th.
Separately, Zacks Investment Research downgraded shares of Essendant from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th.
Essendant Inc, formerly United Stationers Inc, is a wholesale distributor of workplace essentials. The Company stocks an assortment of over 160,000 products in categories, including technology products, traditional office products, office furniture, janitorial and breakroom supplies, industrial supplies, and automotive aftermarket tools and equipment.
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