Ennis (NYSE:EBF) Lowered to Buy Rating by StockNews.com

StockNews.com downgraded shares of Ennis (NYSE:EBF - Free Report) from a strong-buy rating to a buy rating in a research report released on Wednesday.

Ennis Price Performance

EBF stock traded up $0.01 during trading on Wednesday, hitting $21.43. The stock had a trading volume of 142,183 shares, compared to its average volume of 126,708. The stock has a market capitalization of $557.18 million, a P/E ratio of 13.56 and a beta of 0.41. The company's 50-day moving average price is $21.44 and its two-hundred day moving average price is $22.23. Ennis has a twelve month low of $18.88 and a twelve month high of $25.75.

Ennis (NYSE:EBF - Get Free Report) last issued its earnings results on Monday, September 23rd. The industrial products company reported $0.40 earnings per share for the quarter. The business had revenue of $99.04 million for the quarter. Ennis had a return on equity of 11.64% and a net margin of 10.15%.

Ennis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Friday, October 11th. Ennis's payout ratio is 63.29%.

Institutional Trading of Ennis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new position in shares of Ennis in the first quarter worth $332,000. CWM LLC grew its stake in shares of Ennis by 97.0% in the second quarter. CWM LLC now owns 3,849 shares of the industrial products company's stock worth $84,000 after acquiring an additional 1,895 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Ennis in the second quarter worth $213,000. GPS Wealth Strategies Group LLC grew its stake in shares of Ennis by 40.5% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,924 shares of the industrial products company's stock worth $130,000 after purchasing an additional 1,707 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Ennis by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 339,928 shares of the industrial products company's stock worth $7,441,000 after purchasing an additional 1,254 shares in the last quarter. Hedge funds and other institutional investors own 74.33% of the company's stock.

About Ennis

Ennis, Inc manufactures and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.