Ennis (NYSE:EBF) Posts Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Ennis, Inc. reported quarterly earnings of $0.51 per share, exceeding analysts' expectations of $0.38 by $0.13, despite revenues being slightly below projections at $98.68 million.
• The company's stock increased by 2.0% after the earnings report, reaching a price of $18.51, with significant trading volume compared to its average.
• There was notable insider activity, as Director Walter D. Gruenes purchased 5,500 shares, increasing his ownership by 104.90%.

Ennis (NYSE:EBF - Get Free Report) issued its quarterly earnings results on Monday. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.13, Zacks reports. Ennis had a net margin of 10.12% and a return on equity of 12.49%. The company had revenue of $98.68 million during the quarter, compared to analysts' expectations of $99.00 million.

Ennis Stock Up 2.6%

Ennis stock traded up $0.48 during trading hours on Monday, hitting $18.62. The stock had a trading volume of 136,905 shares, compared to its average volume of 119,900. The stock has a market capitalization of $480.32 million, a P/E ratio of 12.25 and a beta of 0.47. Ennis has a 12-month low of $17.15 and a 12-month high of $25.75. The stock's 50-day moving average price is $18.14 and its 200-day moving average price is $18.73.

Ennis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 10th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 5.4%. Ennis's payout ratio is 65.79%.

Insider Transactions at Ennis

In other news, Director Walter D. Gruenes bought 5,500 shares of the firm's stock in a transaction on Monday, July 28th. The stock was acquired at an average cost of $17.99 per share, with a total value of $98,945.00. Following the completion of the acquisition, the director owned 10,743 shares of the company's stock, valued at approximately $193,266.57. This represents a 104.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Ennis by 1,037.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company's stock worth $28,000 after buying an additional 1,390 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Ennis by 56.8% in the second quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company's stock worth $45,000 after buying an additional 890 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Ennis by 245.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,100 shares of the industrial products company's stock worth $56,000 after buying an additional 2,203 shares during the last quarter. Quantbot Technologies LP raised its holdings in Ennis by 399.6% in the second quarter. Quantbot Technologies LP now owns 4,971 shares of the industrial products company's stock worth $90,000 after buying an additional 3,976 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Ennis by 4.6% in the second quarter. Cetera Investment Advisers now owns 14,417 shares of the industrial products company's stock worth $262,000 after buying an additional 633 shares during the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.

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.