Mirae Asset Global Investments Co. Ltd. Has $910,000 Stock Position in Ennis, Inc. $EBF

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Ennis, Inc. by 136.6% during Q2, owning approximately 50,138 shares valued at $910,000.
• Ennis recently announced a quarterly dividend of $0.25, yielding 5.7%, with an ex-dividend date of October 10th.
• The company reported earnings of $0.51 per share for the last quarter, exceeding the consensus estimate by $0.13.

Mirae Asset Global Investments Co. Ltd. lifted its stake in Ennis, Inc. (NYSE:EBF - Free Report) by 136.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,138 shares of the industrial products company's stock after acquiring an additional 28,947 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.19% of Ennis worth $910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EBF. GAMMA Investing LLC increased its position in Ennis by 2,050.0% during the first quarter. GAMMA Investing LLC now owns 4,902 shares of the industrial products company's stock worth $98,000 after buying an additional 4,674 shares during the last quarter. Rhumbline Advisers increased its position in Ennis by 24.3% during the first quarter. Rhumbline Advisers now owns 86,639 shares of the industrial products company's stock worth $1,741,000 after buying an additional 16,943 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Ennis by 2.0% during the first quarter. SummerHaven Investment Management LLC now owns 35,627 shares of the industrial products company's stock worth $716,000 after buying an additional 693 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Ennis by 968.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 279,764 shares of the industrial products company's stock worth $5,620,000 after buying an additional 253,569 shares during the last quarter. Finally, Diversified Trust Co increased its position in Ennis by 77.6% during the first quarter. Diversified Trust Co now owns 17,276 shares of the industrial products company's stock worth $347,000 after buying an additional 7,548 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company's stock.

Insider Activity at Ennis

In other news, Director Walter D. Gruenes purchased 5,500 shares of the company's stock in a transaction dated Monday, July 28th. The stock was bought at an average cost of $17.99 per share, for a total transaction of $98,945.00. Following the purchase, the director owned 10,743 shares of the company's stock, valued at approximately $193,266.57. The trade was a 104.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.70% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Ennis in a research report on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ennis has a consensus rating of "Hold".

Ennis Price Performance

NYSE EBF opened at $17.54 on Friday. The business has a fifty day moving average price of $18.17 and a two-hundred day moving average price of $18.50. Ennis, Inc. has a fifty-two week low of $17.15 and a fifty-two week high of $24.34. The stock has a market capitalization of $449.47 million, a PE ratio of 10.76 and a beta of 0.45.

Ennis (NYSE:EBF - Get Free Report) last released its earnings results on Monday, September 22nd. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13. Ennis had a return on equity of 13.99% and a net margin of 10.86%.The firm had revenue of $98.68 million during the quarter, compared to analysts' expectations of $99.00 million.

Ennis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, October 10th. Ennis's dividend payout ratio is presently 61.35%.

Ennis 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.

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