Ennis (NYSE:EBF) Stock Rating Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Ennis (NYSE:EBF) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings upgraded Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Ennis presently has a consensus rating of “Buy”.

Ennis Stock Down 0.4%

Shares of EBF stock opened at $22.21 on Friday. The stock has a market capitalization of $561.92 million, a PE ratio of 14.52 and a beta of 0.27. Ennis has a 52-week low of $16.30 and a 52-week high of $22.94. The stock’s 50-day moving average price is $21.70 and its 200 day moving average price is $21.19.

Ennis (NYSE:EBF) last posted its quarterly earnings data on Monday, September 21st. The industrial products company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Ennis had a net margin of 9.81% and a return on equity of 12.64%. The company had revenue of $102.01 million for the quarter, compared to analysts’ expectations of $99.85 million.

Ennis Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 9th will be issued a $0.2625 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.05 dividend on an annualized basis and a yield of 4.7%. This is a boost from Ennis’s previous quarterly dividend of $0.25. Ennis’s dividend payout ratio is presently 68.63%.

Hedge Funds Weigh In On Ennis

A number of large investors have recently modified their holdings of EBF. Public Employees Retirement System of Ohio purchased a new stake in shares of Ennis in the second quarter valued at approximately $25,000. Compass Financial Management LLC purchased a new position in Ennis in the second quarter worth $27,000. MBM Wealth Consultants LLC acquired a new stake in Ennis in the first quarter valued at $27,000. State of Wyoming acquired a new stake in Ennis in the first quarter valued at $71,000. Finally, Parallel Advisors LLC lifted its holdings in Ennis by 18.3% in the first quarter. Parallel Advisors LLC now owns 3,641 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 562 shares during the period. 74.33% of the stock is owned by hedge funds and other institutional investors.

About Ennis

Ennis, Inc (NYSE: EBF) is a manufacturer and supplier of printed business products headquartered in Midlothian, Texas. The company primarily serves independent distributors, print resellers and other business customers rather than selling directly to consumers.

Its product portfolio includes business forms, envelopes, labels, tags, checks, presentation folders, promotional products, apparel and other customized printed materials. Ennis also provides products used in commercial printing, packaging and workplace communications, with offerings manufactured through a network of production facilities and sold under various company brands.

Founded in 1909, Ennis has expanded over its history through organic growth and acquisitions in the printing and related product industries.