Bank of New York Mellon Corp Invests $7.34 Million in Ennis, Inc. $EBF

Key Points

• Bank of New York Mellon acquired 345,226 Ennis shares worth approximately $7.34 million, giving it a 1.36% stake. Institutional investors collectively own 74.33% of the company.
• Ennis reported quarterly EPS of $0.39, matching analyst estimates, while revenue of $98.61 million slightly exceeded expectations. The company maintains a quarterly dividend of $0.25 per share, equivalent to a 4.7% yield.
• Recent analyst commentary has turned more positive, with Weiss Ratings and Wall Street Zen upgrading Ennis to “buy”; MarketBeat reports an overall “Buy” rating.

Bank of New York Mellon Corp purchased a new position in Ennis, Inc. (NYSE:EBF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 345,226 shares of the industrial products company's stock, valued at approximately $7,336,000. Bank of New York Mellon Corp owned 1.36% of Ennis at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. MBM Wealth Consultants LLC acquired a new stake in Ennis in the first quarter valued at $27,000. EverSource Wealth Advisors LLC grew its stake in Ennis by 1,037.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company's stock worth $28,000 after acquiring an additional 1,390 shares during the period. BNP Paribas Financial Markets raised its holdings in Ennis by 56.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 890 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Ennis during the 4th quarter worth $51,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Ennis by 245.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,100 shares of the industrial products company's stock worth $56,000 after purchasing an additional 2,203 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.

Ennis Stock Up 0.9%

NYSE:EBF opened at $21.28 on Friday. The company has a market cap of $538.38 million, a P/E ratio of 12.74 and a beta of 0.27. Ennis, Inc. has a fifty-two week low of $16.30 and a fifty-two week high of $22.94. The firm's 50 day moving average is $21.64 and its two-hundred day moving average is $21.12.

Ennis (NYSE:EBF - Get Free Report) last released its quarterly earnings data on Monday, June 22nd. The industrial products company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $98.61 million during the quarter, compared to the consensus estimate of $98.20 million. Ennis had a return on equity of 13.89% and a net margin of 10.84%.During the same period in the prior year, the firm posted $0.38 EPS.

Ennis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Friday, July 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, July 10th. Ennis's dividend payout ratio is 59.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EBF. Weiss Ratings raised Ennis from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. Wall Street Zen upgraded Ennis from a "hold" rating to a "buy" rating in a research report on Sunday, August 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

Ennis Profile

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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