Ennis (NYSE:EBF) Hits New 1-Year High - Here's Why

Key Points

• Ennis (NYSE:EBF) hit a new 52-week high of $22.14 (last $22.07) and is up about 1.8%, trading above its 50-day ($20.86) and 200-day ($18.87) moving averages.
• Wall Street Zen upgraded Ennis from Hold to Buy, but Weiss Ratings and other analysts maintain Hold, leaving the consensus rating at Hold.
• Ennis declared a quarterly dividend of $0.25 per share (annualized $1.00), a 4.5% yield, with an ex-dividend/record date of April 13 and payment on May 4; the payout ratio is ~60%.

Ennis, Inc. (NYSE:EBF - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $22.14 and last traded at $22.07, with a volume of 18343 shares traded. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EBF. Wall Street Zen upgraded shares of Ennis from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Weiss Ratings restated a "hold (c)" rating on shares of Ennis in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Ennis Stock Up 1.8%

The company's fifty day moving average is $20.86 and its 200 day moving average is $18.87. The firm has a market cap of $559.10 million, a price-to-earnings ratio of 13.32 and a beta of 0.31.

Ennis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 13th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, April 13th. Ennis's dividend payout ratio is 60.24%.

Institutional Trading of Ennis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Unison Advisors LLC raised its position in Ennis by 1.4% during the third quarter. Unison Advisors LLC now owns 45,087 shares of the industrial products company's stock worth $824,000 after acquiring an additional 603 shares in the last quarter. Cetera Investment Advisers raised its position in Ennis by 4.6% during the second quarter. Cetera Investment Advisers now owns 14,417 shares of the industrial products company's stock worth $262,000 after acquiring an additional 633 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Ennis by 0.4% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 177,963 shares of the industrial products company's stock worth $3,253,000 after acquiring an additional 723 shares in the last quarter. Franklin Resources Inc. raised its position in Ennis by 4.5% during the third quarter. Franklin Resources Inc. now owns 20,294 shares of the industrial products company's stock worth $371,000 after acquiring an additional 874 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Ennis by 56.8% during the second quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company's stock worth $45,000 after acquiring an additional 890 shares in the last quarter. 74.33% of the stock is owned by institutional investors.

About Ennis

Ennis, Inc NYSE: EBF is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis's core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.

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