CNA Financial Corp boosted its holdings in shares of Essendant Inc. (NASDAQ:ESND) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,837 shares of the company’s stock after acquiring an additional 13,238 shares during the quarter. CNA Financial Corp owned about 0.27% of Essendant worth $1,341,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of ESND. UBS Asset Management Americas Inc. acquired a new stake in Essendant during the first quarter worth $477,000. Principal Financial Group Inc. increased its stake in Essendant by 5.1% during the first quarter. Principal Financial Group Inc. now owns 284,823 shares of the company’s stock worth $4,315,000 after acquiring an additional 13,715 shares during the last quarter. Teachers Advisors LLC increased its stake in Essendant by 5.0% during the first quarter. Teachers Advisors LLC now owns 90,788 shares of the company’s stock worth $1,375,000 after acquiring an additional 4,333 shares during the last quarter. California Public Employees Retirement System increased its stake in Essendant by 9.6% during the first quarter. California Public Employees Retirement System now owns 177,800 shares of the company’s stock worth $2,694,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Essendant by 6.8% in the first quarter. Thrivent Financial For Lutherans now owns 21,410 shares of the company’s stock valued at $324,000 after buying an additional 1,370 shares in the last quarter. 93.59% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on ESND. Zacks Investment Research cut Essendant from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. BidaskClub cut Essendant from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine upgraded Essendant from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, TheStreet downgraded Essendant from a “c-” rating to a “d+” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.50.
Shares of Essendant Inc. (NASDAQ ESND) traded down $0.04 during midday trading on Wednesday, reaching $9.01. The company’s stock had a trading volume of 147,600 shares, compared to its average volume of 282,570. Essendant Inc. has a 12 month low of $8.79 and a 12 month high of $22.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.04 and a quick ratio of 1.02. The stock has a market cap of $340.39, a P/E ratio of 16.76 and a beta of 1.21.
Essendant (NASDAQ:ESND) last posted its earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.30). Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.22%. The ex-dividend date is Thursday, December 14th. Essendant’s dividend payout ratio (DPR) is presently -7.67%.
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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