Ennis (NYSE:EBF) Reaches New 1-Year High – What’s Next?

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

Wall Street Analysts Forecast Growth

EBF has been the subject of several recent analyst reports. Wall Street Zen raised shares of Ennis from a “hold” rating to a “buy” rating in a research note on Saturday, October 10th. Weiss Ratings cut Ennis from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Ennis has a consensus rating of “Hold”.

Ennis Stock Down 1.2%

The company’s fifty day simple moving average is $21.95 and its 200 day simple moving average is $21.37. The firm has a market capitalization of $573.22 million, a PE ratio of 14.80 and a beta of 0.26.

Ennis (NYSE:EBF) last released its 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 firm had revenue of $102.01 million during the quarter, compared to analysts’ expectations of $99.85 million. Ennis had a net margin of 9.81% and a return on equity of 12.58%.

Ennis Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 9th will be issued a dividend of $0.2625 per share. This is a boost from Ennis’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, October 9th. This represents a $1.05 dividend on an annualized basis and a dividend yield of 4.6%. Ennis’s dividend payout ratio (DPR) is presently 68.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Signaturefd LLC lifted its stake in shares of Ennis by 64.4% in the third quarter. Signaturefd LLC now owns 10,105 shares of the industrial products company’s stock worth $227,000 after buying an additional 3,958 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Ennis by 7.3% during the third quarter. Evergreen Capital Management LLC now owns 23,898 shares of the industrial products company’s stock valued at $538,000 after acquiring an additional 1,631 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Ennis by 1,773.6% during the third quarter. Sterling Capital Management LLC now owns 9,424 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 8,921 shares in the last quarter. IFP Advisors Inc raised its holdings in Ennis by 3,099.5% in the 3rd quarter. IFP Advisors Inc now owns 6,047 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 5,858 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Ennis in the 2nd quarter worth approximately $397,000. 74.33% of the stock is currently owned by institutional investors.

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.