ESND
Essendant Inc
Industrial/Transportation, Consumer
05/30/2014
Presented
| Date | 05/28/2014 |
| Price | $39.61 |
| Market Cap | $1.56B |
| Ent Value | $2.10B |
| P/E Ratio | 13.04x |
| Book Value | $22.11 |
| Div Yield | 1.4% |
| Shares O/S | 39.39M |
| Ave Daily Vol | 240,000 |
| Short Int | 10.34% |
Current
| Price | $12.80 |
| Market Cap | $0.48B |
| United Stationers Inc. operates as a wholesale distributor of business products in the United States and internationally. The company offers technology products, such as imaging supplies, data storage, digital cameras, and computer accessories; and computer hardware, including printers and other peripherals to value-added computer resellers, office products dealers, drug stores, grocery chains, and e-commerce merchants. It also provides traditional office products consisting of filing and record storage products, business machines, presentation products, writing instruments, paper products, shipping and mailing supplies, calendars, and general office accessories; and janitorial and breakroom supplies, foodservice consumables, safety and security items, and paper and packaging supplies. In addition, the company offers industrial supplies, such as hand and power tools, safety and security supplies, janitorial equipment, and supplies; various industrial maintenance, repair, and operational items; and oil field and welding supplies. Further, it provides office furniture, including desks, filing and storage solutions, seating and systems furniture, and various products for education, government, healthcare and professional services markets. Additionally, the company develops, licenses, and implements business management software and e-commerce services for customers. It serves independent office products dealers; contract stationers; office products superstores; computer products resellers; office furniture dealers; mass merchandisers; mail order companies; sanitary supply, paper, and foodservice distributors; drug and grocery store chains; healthcare distributors; e-commerce merchants; oil field, welding supply, and industrial/MRO distributors; and other independent distributors through its 64 distribution centers and 46 re-distribution points. United Stationers Inc. was founded in 1922 and is headquartered in Deerfield, Illinois. |
Publicly traded companies mentioned herein: Genuine Parts company (GPC), Lexmark International (LXK), Office Depot (ODP), United Stationers (USTR), Staples (SPLS),
Highlights
United Stationers (USTR) is $1.5 billion market cap distributor of typical office products/ supplies and accessories (including technology and furniture) as well as janitorial/ breakroom supplies to primarily the retail industry. The paperless trend is a potential problem for USTR, and with operating margins of 4.5% running at near historical peak levels (5%) and inventory days at historically high levels, the presenter is short shares and sees downside risk to the low $20s on any deterioration in fundamentals.
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