BlackRock Inc. Takes $58.56 Million Position in Ennis, Inc. $EBF

Key Points

• BlackRock acquired a new 10.89% stake in Ennis during the second quarter, purchasing 2.76 million shares valued at approximately $58.6 million. Institutional investors collectively own 74.33% of the company.
• Ennis reported quarterly earnings of $0.39 per share, matching analyst estimates, while revenue of $98.61 million slightly exceeded expectations. Analysts cited in the article maintain a consensus “Buy” rating.
• The company paid a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 dividend and a 4.7% yield.

BlackRock Inc. purchased a new stake in Ennis, Inc. (NYSE:EBF - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,755,962 shares of the industrial products company's stock, valued at approximately $58,564,000. BlackRock Inc. owned 10.89% of Ennis at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MBM Wealth Consultants LLC bought a new stake in Ennis in the first quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $28,000 after buying an additional 1,390 shares during the period. BNP Paribas Financial Markets increased its position in shares of 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 buying an additional 890 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Ennis in the 4th quarter valued at $51,000. Finally, Tower Research Capital LLC TRC raised its stake in 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 buying an additional 2,203 shares during the period. Institutional investors own 74.33% of the company's stock.

Analyst Ratings Changes

EBF has been the subject of a number of research analyst reports. Weiss Ratings raised Ennis from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Wall Street Zen raised 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 data from MarketBeat, the stock currently has a consensus rating of "Buy".

Ennis Trading Down 0.8%

EBF opened at $21.34 on Tuesday. The stock has a market capitalization of $539.90 million, a P/E ratio of 12.78 and a beta of 0.27. Ennis, Inc. has a 12 month low of $16.30 and a 12 month high of $22.94. The firm's fifty day simple moving average is $21.64 and its 200 day simple moving average is $21.11.

Ennis (NYSE:EBF - Get Free Report) last issued its quarterly earnings results on Monday, June 22nd. The industrial products company reported $0.39 EPS for the quarter, meeting analysts' consensus estimates of $0.39. The company had revenue of $98.61 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.38 earnings per share.

Ennis Announces Dividend

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

Ennis Company 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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