BlackRock Inc. trimmed its stake in shares of Essendant Inc (NASDAQ:ESND) by 9.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,683,598 shares of the company’s stock after selling 462,030 shares during the quarter. BlackRock Inc. owned about 0.12% of Essendant worth $61,917,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Piedmont Investment Advisors LLC acquired a new stake in shares of Essendant during the second quarter worth $116,000. Harvest Management LLC acquired a new stake in shares of Essendant during the second quarter worth $132,000. Highbridge Capital Management LLC acquired a new stake in shares of Essendant during the first quarter worth $140,000. Summit Trail Advisors LLC lifted its holdings in shares of Essendant by 757.5% during the first quarter. Summit Trail Advisors LLC now owns 209,185 shares of the company’s stock worth $209,000 after buying an additional 184,791 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Essendant during the second quarter worth $390,000. 83.57% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the company. TheStreet raised Essendant from a “d+” rating to a “c” rating in a report on Friday, July 27th. BidaskClub downgraded Essendant from a “buy” rating to a “hold” rating in a report on Saturday, August 18th.

ESND opened at $12.69 on Friday. Essendant Inc has a fifty-two week low of $7.20 and a fifty-two week high of $17.08. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.03 and a quick ratio of 1.01. The firm has a market cap of $482.60 million, a PE ratio of 71.22 and a beta of 1.24.

Essendant (NASDAQ:ESND) last posted its earnings results on Thursday, July 26th. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.20. Essendant had a positive return on equity of 1.51% and a negative net margin of 2.70%. The company had revenue of $1.25 billion during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, September 13th.

Essendant Profile

Essendant Inc operates as a distributor of workplace items in the United States and internationally. It offers janitorial and sanitation supplies, breakroom items, foodservice consumables, safety and security items, and paper and packaging supplies. The company also provides technology products, such as computer accessories, imaging supplies, and data storage products; and computer hardware, including printers and other peripherals.

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Institutional Ownership by Quarter for Essendant (NASDAQ:ESND)

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