Public Employees Retirement System of Ohio increased its position in Essendant Inc (NASDAQ:ESND) by 94.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,902 shares of the company’s stock after purchasing an additional 34,513 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.19% of Essendant worth $934,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESND. Thrivent Financial For Lutherans raised its stake in shares of Essendant by 5.8% in the second quarter. Thrivent Financial For Lutherans now owns 22,660 shares of the company’s stock worth $336,000 after purchasing an additional 1,250 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Essendant by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,776 shares of the company’s stock worth $456,000 after acquiring an additional 1,333 shares during the period. Nationwide Fund Advisors grew its holdings in shares of Essendant by 1.8% in the second quarter. Nationwide Fund Advisors now owns 85,186 shares of the company’s stock worth $1,263,000 after acquiring an additional 1,500 shares during the period. Teachers Advisors LLC grew its holdings in shares of Essendant by 2.0% in the second quarter. Teachers Advisors LLC now owns 92,585 shares of the company’s stock worth $1,373,000 after acquiring an additional 1,797 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of Essendant by 2.9% in the second quarter. Legal & General Group Plc now owns 118,192 shares of the company’s stock worth $1,751,000 after acquiring an additional 3,292 shares during the period. Institutional investors own 96.43% of the company’s stock.
Several analysts recently commented on ESND shares. BidaskClub lowered Essendant from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, ValuEngine lowered Essendant from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $16.50.
Essendant (NASDAQ:ESND) last issued its quarterly earnings data on Wednesday, October 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.30). The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a negative net margin of 5.26% and a positive return on equity of 3.20%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share.
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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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