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

StockNews.com cut shares of Ennis (NYSE:EBF) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

Ennis Stock Performance

Shares of EBF stock opened at $23.78 on Wednesday. The stock has a market cap of $617.90 million, a P/E ratio of 14.86 and a beta of 0.40. The stock has a 50 day moving average of $23.33 and a 200 day moving average of $21.67. Ennis has a twelve month low of $18.88 and a twelve month high of $25.75.

Ennis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a yield of 4.21%. Ennis’s payout ratio is presently 62.50%.

Hedge Funds Weigh In On Ennis

Large investors have recently modified their holdings of the business. Unison Advisors LLC grew its holdings in Ennis by 1.3% during the 2nd quarter. Unison Advisors LLC now owns 38,019 shares of the industrial products company’s stock worth $832,000 after acquiring an additional 476 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ennis by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,786 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 534 shares during the period. EMC Capital Management increased its position in shares of Ennis by 10.9% in the first quarter. EMC Capital Management now owns 9,848 shares of the industrial products company’s stock valued at $202,000 after buying an additional 971 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 1,254 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ennis during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 74.33% of the company’s stock.

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.