Walter D. Gruenes Purchases 5,500 Shares of Ennis, Inc. (NYSE:EBF) Stock

Key Points

• Walter D. Gruenes, Director of Ennis, Inc., purchased 5,500 shares at an average price of $17.99, increasing his ownership by 104.90% to a total of 10,743 shares.
• Ennis, Inc. reported $0.38 earnings per share, exceeding the consensus estimate of $0.37, despite revenues of $97.20 million falling short of analyst projections.
• The company declared a quarterly dividend of $0.25 per share, resulting in a 5.54% dividend yield and a payout ratio of 65.79%.

Ennis, Inc. (NYSE:EBF - Get Free Report) Director Walter D. Gruenes purchased 5,500 shares of the stock in a transaction dated Monday, July 28th. The shares were acquired at an average price of $17.99 per share, with a total value of $98,945.00. Following the transaction, the director owned 10,743 shares in the company, valued at $193,266.57. This trade represents 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 at this hyperlink.

Ennis Stock Performance

EBF traded down $0.05 during midday trading on Tuesday, reaching $18.07. 104,922 shares of the company were exchanged, compared to its average volume of 173,121. The stock has a market capitalization of $466.08 million, a P/E ratio of 11.88 and a beta of 0.46. Ennis, Inc. has a one year low of $17.15 and a one year high of $25.75. The stock's 50-day simple moving average is $18.47 and its 200 day simple moving average is $19.46.

Ennis (NYSE:EBF - Get Free Report) last released its quarterly earnings data on Monday, June 23rd. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $97.20 million for the quarter, compared to analyst estimates of $99.30 million. Ennis had a net margin of 10.12% and a return on equity of 12.49%.

Ennis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, July 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Friday, July 11th. Ennis's dividend payout ratio (DPR) is 65.79%.

Institutional Trading of Ennis

A number of large investors have recently made changes to their positions in EBF. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Ennis in the 2nd quarter valued at approximately $788,000. Allianz Asset Management GmbH boosted its holdings in shares of Ennis by 504.8% in the second quarter. Allianz Asset Management GmbH now owns 198,211 shares of the industrial products company's stock valued at $3,596,000 after buying an additional 165,437 shares during the period. Polaris Capital Management LLC increased its position in shares of Ennis by 12.1% during the second quarter. Polaris Capital Management LLC now owns 97,300 shares of the industrial products company's stock worth $1,765,000 after acquiring an additional 10,500 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Ennis by 4.1% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 60,139 shares of the industrial products company's stock worth $1,091,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ennis by 136.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,138 shares of the industrial products company's stock worth $910,000 after acquiring an additional 28,947 shares during the period. Institutional investors own 74.33% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Ennis from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, April 22nd.

Ennis Company 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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