Ennis (NYSE:EBF) Cut to "Buy" at StockNews.com

StockNews.com cut shares of Ennis (NYSE:EBF - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Tuesday.

Ennis Stock Down 0.8 %

EBF stock traded down $0.15 during midday trading on Tuesday, reaching $17.91. The company had a trading volume of 202,389 shares, compared to its average volume of 148,885. The stock has a 50 day moving average price of $20.06 and a 200 day moving average price of $20.63. The firm has a market capitalization of $465.89 million, a PE ratio of 11.26 and a beta of 0.40. Ennis has a fifty-two week low of $17.15 and a fifty-two week high of $25.75.

Ennis (NYSE:EBF - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). The business had revenue of $92.70 million for the quarter, compared to analyst estimates of $95.60 million. Ennis had a return on equity of 12.16% and a net margin of 10.35%.

Ennis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.58%. Ennis's dividend payout ratio is presently 64.52%.

Hedge Funds Weigh In On Ennis

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Ennis by 2.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,649,924 shares of the industrial products company's stock worth $33,196,000 after buying an additional 32,343 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Ennis during the 1st quarter valued at $427,000. Diversified Trust Co boosted its stake in Ennis by 77.6% during the 1st quarter. Diversified Trust Co now owns 17,276 shares of the industrial products company's stock valued at $347,000 after purchasing an additional 7,548 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Ennis by 968.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 279,764 shares of the industrial products company's stock valued at $5,620,000 after purchasing an additional 253,569 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in Ennis by 2.0% during the 1st quarter. SummerHaven Investment Management LLC now owns 35,627 shares of the industrial products company's stock valued at $716,000 after purchasing an additional 693 shares in the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

Ennis Company Profile

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.