Ennis (NYSE:EBF) Trading Down 3.5% - Here's What Happened

Shares of Ennis, Inc. (NYSE:EBF - Get Free Report) fell 3.5% during mid-day trading on Monday . The stock traded as low as $19.69 and last traded at $19.52. 142,975 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 133,390 shares. The stock had previously closed at $20.23.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ennis from a "buy" rating to a "strong-buy" rating in a research note on Friday, February 21st.

Ennis Price Performance

The company has a market cap of $521.30 million, a P/E ratio of 12.54 and a beta of 0.40. The stock has a 50-day moving average of $20.81 and a 200 day moving average of $21.43.

Ennis (NYSE:EBF - Get Free Report) last released its earnings results on Monday, December 23rd. The industrial products company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Ennis had a net margin of 10.35% and a return on equity of 12.16%.

Ennis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 14th will be paid a $0.25 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.00 dividend on an annualized basis and a yield of 4.99%. Ennis's dividend payout ratio (DPR) is 62.89%.

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Institutional Investors Weigh In On Ennis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Ennis by 282.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 250,932 shares of the industrial products company's stock worth $6,103,000 after buying an additional 185,373 shares in the last quarter. American Century Companies Inc. increased its position in Ennis by 27.5% during the 4th quarter. American Century Companies Inc. now owns 617,207 shares of the industrial products company's stock worth $13,017,000 after purchasing an additional 133,036 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ennis in the 4th quarter valued at approximately $2,269,000. Teacher Retirement System of Texas boosted its position in Ennis by 49.0% in the fourth quarter. Teacher Retirement System of Texas now owns 188,310 shares of the industrial products company's stock valued at $3,971,000 after buying an additional 61,919 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Ennis during the fourth quarter worth $1,175,000. 74.33% of the stock is currently owned by institutional investors.

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.