Ennis (NYSE:EBF) Reaches New 12-Month High - Here's Why

Key Points

• Ennis shares reached a new 52-week high of $22.97, up 1.6%, giving the company a market capitalization of approximately $580 million.
• Recent analyst opinions were mixed, but the overall consensus remains “Hold.” Ennis’s latest quarterly earnings missed EPS expectations by $0.02, although revenue exceeded forecasts.
• The company raised its quarterly dividend from $0.25 to $0.2625 per share, representing a $1.05 annualized payout and a 4.6% yield; institutional investors own 74.33% of the stock.

Ennis, Inc. (NYSE:EBF - Get Free Report)'s share price hit a new 52-week high on Thursday. The stock traded as high as $22.97 and last traded at $22.96, with a volume of 42,606 shares. The stock had previously closed at $22.54.

Analyst Ratings Changes

A number of brokerages recently issued reports on EBF. Weiss Ratings downgraded Ennis from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 9th. Wall Street Zen upgraded Ennis from a "hold" rating to a "buy" rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of "Hold".

Ennis Trading Up 1.6%

The firm has a market cap of $579.83 million, a price-to-earnings ratio of 14.97 and a beta of 0.26. The company's 50-day moving average is $21.92 and its 200-day moving average is $21.35.

Ennis (NYSE:EBF - Get Free Report) last announced its quarterly earnings data on Monday, September 21st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). Ennis had a net margin of 9.81% and a return on equity of 12.58%. The firm had revenue of $102.01 million during the quarter, compared to the consensus estimate of $99.85 million.

Ennis Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 6th. Stockholders of record on Friday, October 9th will be paid a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, October 9th. This is a positive change from Ennis's previous quarterly dividend of $0.25. Ennis's dividend payout ratio is 68.63%.

Hedge Funds Weigh In On Ennis

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in Ennis in the second quarter valued at about $25,000. Compass Financial Management LLC acquired a new stake in shares of Ennis in the 2nd quarter valued at approximately $27,000. MBM Wealth Consultants LLC acquired a new stake in shares of Ennis in the 1st quarter valued at approximately $27,000. State of Wyoming acquired a new stake in shares of Ennis in the 1st quarter valued at approximately $71,000. Finally, Parallel Advisors LLC grew its holdings 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. Institutional investors and hedge funds own 74.33% of the company's stock.

Ennis Company Profile

Ennis, Inc is a manufacturer and supplier of printed business products for commercial printers, distributors and other business customers. The company's offerings include business forms, envelopes, tags, labels, presentation folders, checks, direct-mail materials and other customized printed products.

Ennis also provides apparel and promotional products through its portfolio of specialized brands and manufacturing operations. Its products are generally sold through distributors and resellers, serving businesses and organizations across the United States and other markets in North America.

Founded in 1909 and headquartered in Midlothian, Texas, Ennis has expanded over its history through organic growth and acquisitions of printing and related businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.