Hartford Investment Management Co. grew its holdings in shares of Essendant Inc. (NASDAQ:ESND) by 157.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,260 shares of the company’s stock after buying an additional 17,300 shares during the quarter. Hartford Investment Management Co. owned 0.08% of Essendant worth $372,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. California Public Employees Retirement System lifted its position in shares of Essendant by 6.1% during the second quarter. California Public Employees Retirement System now owns 188,700 shares of the company’s stock valued at $2,798,000 after purchasing an additional 10,900 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Essendant by 23.8% during the third quarter. Pzena Investment Management LLC now owns 4,325,038 shares of the company’s stock valued at $56,961,000 after purchasing an additional 832,767 shares in the last quarter. Numeric Investors LLC bought a new position in shares of Essendant during the second quarter valued at about $328,000. CNA Financial Corp lifted its position in shares of Essendant by 14.9% during the third quarter. CNA Financial Corp now owns 101,837 shares of the company’s stock valued at $1,341,000 after purchasing an additional 13,238 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Essendant by 41.5% during the second quarter. Parametric Portfolio Associates LLC now owns 273,750 shares of the company’s stock valued at $4,060,000 after purchasing an additional 80,294 shares in the last quarter. Hedge funds and other institutional investors own 96.54% of the company’s stock.
A number of research analysts recently weighed in on ESND shares. ValuEngine lowered shares of Essendant from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub lowered shares of Essendant from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 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 investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.50.
Essendant Inc. (NASDAQ ESND) opened at $8.97 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. Essendant Inc. has a 12-month low of $8.79 and a 12-month high of $22.52. The firm has a market cap of $349.79, a PE ratio of 17.22 and a beta of 1.21.
Essendant (NASDAQ:ESND) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.30). The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The business’s revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.24%. The ex-dividend date is Thursday, December 14th. Essendant’s dividend payout ratio is -7.67%.
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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