Connor Clark & Lunn Investment Management Ltd. Buys Shares of 66,476 Ennis, Inc. $EBF

Key Points

• Connor Clark & Lunn initiated a position in Ennis by buying 66,476 shares valued at approximately $1.4 million, while institutional investors overall own 74.33% of the company.
• Ennis received rating upgrades from Weiss Ratings and Wall Street Zen, giving the stock an overall “Buy” consensus based on MarketBeat data.
• Ennis reported quarterly earnings of $0.39 per share, matching estimates, and revenue of $98.61 million. The company also maintains a quarterly dividend of $0.25, equivalent to a 4.6% annualized yield.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Ennis, Inc. (NYSE:EBF - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 66,476 shares of the industrial products company's stock, valued at approximately $1,413,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.26% of Ennis as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Ennis in the second quarter valued at about $58,564,000. Bank of New York Mellon Corp purchased a new position in Ennis during the second quarter worth about $7,336,000. Goldman Sachs Group Inc. raised its stake in Ennis by 72.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 632,839 shares of the industrial products company's stock worth $11,397,000 after purchasing an additional 266,533 shares during the period. Royal Bank of Canada raised its stake in Ennis by 608.4% during the fourth quarter. Royal Bank of Canada now owns 170,356 shares of the industrial products company's stock worth $3,068,000 after purchasing an additional 146,307 shares during the period. Finally, Almitas Capital LLC acquired a new position in Ennis in the 4th quarter valued at about $2,503,000. Hedge funds and other institutional investors own 74.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EBF. Weiss Ratings raised shares of Ennis from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Wall Street Zen upgraded Ennis from a "hold" rating to a "buy" rating in a report on Sunday, August 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ennis currently has an average rating of "Buy".

Ennis Trading Up 0.4%

Shares of EBF opened at $21.56 on Friday. The firm has a market cap of $545.42 million, a P/E ratio of 12.91 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 company's 50-day moving average price is $21.63 and its 200 day moving average price is $21.10.

Ennis (NYSE:EBF - Get Free Report) last announced its earnings results on Monday, June 22nd. The industrial products company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. Ennis had a net margin of 10.84% and a return on equity of 13.89%. The company had revenue of $98.61 million during the quarter, compared to analyst estimates of $98.20 million. During the same quarter last year, the firm posted $0.38 earnings per share.

Ennis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Friday, July 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 10th. This represents a $1.00 dividend on an annualized basis and a yield of 4.6%. Ennis's payout ratio is presently 59.88%.

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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