Ennis (NYSE:EBF) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Ennis (NYSE:EBF) from a buy rating to a strong-buy rating in a report released on Thursday.

Ennis Price Performance

EBF opened at $21.89 on Thursday. The firm’s fifty day moving average price is $20.81 and its 200 day moving average price is $20.64. The stock has a market capitalization of $568.70 million, a PE ratio of 13.68 and a beta of 0.43. Ennis has a 12-month low of $18.88 and a 12-month high of $23.17.

Ennis (NYSE:EBF) last announced its quarterly earnings results on Monday, June 17th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter. Ennis had a return on equity of 11.94% and a net margin of 10.11%. The business had revenue of $103.11 million for the quarter.

Ennis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.00 annualized dividend and a dividend yield of 4.57%. Ennis’s dividend payout ratio (DPR) is 62.50%.

Hedge Funds Weigh In On Ennis

A number of hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC increased its position in shares of Ennis by 104.6% in the first quarter. Lazard Asset Management LLC now owns 5,407 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 2,764 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Ennis by 101.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,343 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 3,199 shares in the last quarter. Jump Financial LLC acquired a new stake in Ennis during the 4th quarter valued at $214,000. EMC Capital Management lifted its holdings in shares of Ennis by 10.9% in the first quarter. EMC Capital Management now owns 9,848 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 971 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its position in shares of Ennis by 236.5% in the first quarter. EntryPoint Capital LLC now owns 11,481 shares of the industrial products company’s stock worth $235,000 after buying an additional 8,069 shares during the period. 74.33% of the stock is currently owned by institutional investors and hedge funds.

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.