Renaissance Technologies LLC Sells 60,500 Shares of Ennis, Inc. $EBF

Key Points

• Renaissance Technologies cut its Ennis stake by 4.4%, selling 60,500 shares and retaining 1.31 million shares worth approximately $28.0 million, or 5.17% of the company. Institutional investors collectively own 74.33% of Ennis.
• Analyst sentiment remains positive overall, with Ennis carrying a consensus “Buy” rating despite Wall Street Zen downgrading the stock to “Hold.” Shares recently opened at $21.91, near the company’s 52-week high of $22.36.
• Ennis met quarterly earnings expectations with EPS of $0.39 and revenue of $98.61 million. The company declared a quarterly dividend of $0.25, representing a $1.00 annualized payout and a 4.6% yield.

Renaissance Technologies LLC lowered its stake in Ennis, Inc. (NYSE:EBF - Free Report) by 4.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,307,646 shares of the industrial products company's stock after selling 60,500 shares during the period. Renaissance Technologies LLC owned approximately 5.17% of Ennis worth $28,010,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its position in Ennis by 3.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 235,916 shares of the industrial products company's stock valued at $5,053,000 after purchasing an additional 7,413 shares during the period. Sei Investments Co. boosted its holdings in shares of Ennis by 39.2% in the 1st quarter. Sei Investments Co. now owns 97,482 shares of the industrial products company's stock worth $2,088,000 after purchasing an additional 27,458 shares during the period. State of Wyoming purchased a new position in shares of Ennis in the 1st quarter worth approximately $71,000. PNC Financial Services Group Inc. increased its position in shares of Ennis by 21.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,172 shares of the industrial products company's stock valued at $89,000 after purchasing an additional 729 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Ennis by 18.3% during the 1st quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 562 shares during the last quarter. 74.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on EBF shares. Wall Street Zen downgraded Ennis from a "buy" rating to a "hold" rating in a research report on Sunday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ennis in a research report on Friday, July 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Ennis Price Performance

Shares of NYSE EBF opened at $21.91 on Wednesday. Ennis, Inc. has a 1 year low of $16.30 and a 1 year high of $22.36. The firm has a 50-day simple moving average of $20.93 and a two-hundred day simple moving average of $20.68. The company has a market cap of $554.22 million, a P/E ratio of 13.12 and a beta of 0.27.

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

Ennis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Friday, July 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, July 10th. Ennis's dividend payout ratio is 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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