Wedge Capital Management L L P NC Makes New Investment in Ennis, Inc. $EBF

Key Points

• Wedge Capital Management acquired 67,137 shares of Ennis, Inc. for approximately $1.2 million, holding 0.26% of the company's stock by the end of the second quarter.
• Ennis recently reported an earnings per share (EPS) of $0.51, exceeding estimates, while also announcing a $0.25 quarterly dividend to be paid on November 7th.
• Insider purchases included Director Walter D. Gruenes buying 5,500 shares, increasing his holdings by nearly 105%.

Wedge Capital Management L L P NC acquired a new position in Ennis, Inc. (NYSE:EBF - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 67,137 shares of the industrial products company's stock, valued at approximately $1,218,000. Wedge Capital Management L L P NC owned 0.26% of Ennis at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Kozak & Associates Inc. bought a new stake in shares of Ennis in the 2nd quarter worth approximately $37,000. Goldman Sachs Group Inc. lifted its position in shares of Ennis by 34.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 363,680 shares of the industrial products company's stock worth $7,306,000 after buying an additional 92,266 shares during the period. Rhumbline Advisers lifted its position in shares of Ennis by 24.3% during the 1st 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 period. Strs Ohio bought a new position in shares of Ennis during the 1st quarter worth approximately $520,000. Finally, Empowered Funds LLC bought a new position in shares of Ennis during the 1st quarter worth approximately $319,000. Institutional investors own 74.33% of the company's stock.

Insider Activity at Ennis

In other Ennis news, Director Walter D. Gruenes purchased 5,500 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $17.99 per share, with a total value of $98,945.00. Following the acquisition, the director directly owned 10,743 shares of the company's stock, valued at approximately $193,266.57. This trade represents a 104.90% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 3.70% of the stock is owned by company insiders.

Ennis Price Performance

Ennis stock opened at $18.62 on Tuesday. The company has a market capitalization of $480.32 million, a PE ratio of 12.25 and a beta of 0.47. Ennis, Inc. has a one year low of $17.15 and a one year high of $25.75. The business has a 50 day simple moving average of $18.14 and a 200 day simple moving average of $18.73.

Ennis (NYSE:EBF - Get Free Report) last posted its earnings results on Monday, September 22nd. The industrial products company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. The business had revenue of $98.68 million during the quarter, compared to the consensus estimate of $99.00 million. Ennis had a return on equity of 12.49% and a net margin of 10.12%.

Ennis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, October 10th. Ennis's dividend payout ratio (DPR) is 65.79%.

About Ennis

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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