Bank of New York Mellon Corp Sells 12,453 Shares of Essendant Inc (ESND)

Bank of New York Mellon Corp lessened its holdings in Essendant Inc (NASDAQ:ESND) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 681,174 shares of the company’s stock after selling 12,453 shares during the period. Bank of New York Mellon Corp owned about 1.81% of Essendant worth $8,970,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Pzena Investment Management LLC lifted its stake in shares of Essendant by 23.8% in the 3rd quarter. Pzena Investment Management LLC now owns 4,325,038 shares of the company’s stock worth $56,961,000 after purchasing an additional 832,767 shares during the period. Vanguard Group Inc. lifted its stake in shares of Essendant by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,591,083 shares of the company’s stock worth $53,256,000 after purchasing an additional 115,071 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Essendant by 11.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,698,887 shares of the company’s stock worth $40,024,000 after purchasing an additional 281,356 shares during the period. State Street Corp lifted its stake in shares of Essendant by 4.0% in the 2nd quarter. State Street Corp now owns 1,046,832 shares of the company’s stock worth $15,530,000 after purchasing an additional 40,450 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Essendant by 30.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 630,638 shares of the company’s stock worth $9,353,000 after purchasing an additional 148,014 shares during the period. Hedge funds and other institutional investors own 96.43% of the company’s stock.

Several equities research analysts recently issued reports on ESND shares. BidaskClub raised shares of Essendant from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 20th. ValuEngine lowered shares of Essendant from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Essendant from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $16.50.

Shares of Essendant Inc (NASDAQ ESND) opened at $9.32 on Wednesday. The stock has a market cap of $347.16, a P/E ratio of -1.28 and a beta of 1.21. Essendant Inc has a fifty-two week low of $8.31 and a fifty-two week high of $22.52. The company has a quick ratio of 1.02, a current ratio of 2.04 and a debt-to-equity ratio of 0.89.

Essendant (NASDAQ:ESND) last released its earnings results on Wednesday, October 25th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.30). The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Essendant had a positive return on equity of 3.20% and a negative net margin of 5.26%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $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.

Institutional Ownership by Quarter for Essendant (NASDAQ:ESND)

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