Ennis (NYSE:EBF) Reaches New 12-Month High – Here’s Why

Ennis, Inc. (NYSE:EBF) reached a new 52-week high on Thursday. The company traded as high as $22.97 and last traded at $22.96, with a volume of 42,606 shares. The stock had previously closed at $22.54.

Analysts Set New Price Targets

EBF has been the subject of a number of research reports. Wall Street Zen upgraded Ennis from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings lowered Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, Ennis currently has a consensus rating of “Hold”.

Ennis Trading Up 1.6%

The firm’s 50-day moving average is $21.92 and its 200 day moving average is $21.35. The firm has a market capitalization of $579.83 million, a price-to-earnings ratio of 14.97 and a beta of 0.26.

Ennis (NYSE:EBF) last issued its quarterly earnings results on Monday, September 21st. The industrial products company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business had revenue of $102.01 million for the quarter, compared to analyst estimates of $99.85 million. Ennis had a return on equity of 12.58% and a net margin of 9.81%.

Ennis Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Investors of record on Friday, October 9th will be issued a $0.2625 dividend. The ex-dividend date is Friday, October 9th. This is a positive change from Ennis’s previous quarterly dividend of $0.25. This represents a $1.05 dividend on an annualized basis and a yield of 4.6%. Ennis’s dividend payout ratio (DPR) is currently 68.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its position in shares of Ennis by 13.0% in the 2nd quarter. CoreCap Advisors LLC now owns 4,293 shares of the industrial products company’s stock valued at $91,000 after buying an additional 494 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Ennis by 18.3% during the first quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company’s stock worth $78,000 after acquiring an additional 562 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Ennis by 21.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,172 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 729 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Ennis in the second quarter worth approximately $25,000. Finally, Compass Financial Management LLC bought a new stake in Ennis in the second quarter valued at approximately $27,000. 74.33% of the stock is owned by institutional investors and hedge funds.

About Ennis

Ennis, Inc is a manufacturer and supplier of printed business products for commercial printers, distributors and other business customers. The company’s offerings include business forms, envelopes, tags, labels, presentation folders, checks, direct-mail materials and other customized printed products.

Ennis also provides apparel and promotional products through its portfolio of specialized brands and manufacturing operations. Its products are generally sold through distributors and resellers, serving businesses and organizations across the United States and other markets in North America.

Founded in 1909 and headquartered in Midlothian, Texas, Ennis has expanded over its history through organic growth and acquisitions of printing and related businesses.