Ennis (NYSE:EBF) Downgraded by StockNews.com

StockNews.com cut shares of Ennis (NYSE:EBF) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

Ennis Stock Performance

Shares of EBF opened at $23.78 on Wednesday. Ennis has a 52 week low of $18.88 and a 52 week high of $25.75. The firm has a market cap of $617.90 million, a price-to-earnings ratio of 14.86 and a beta of 0.40. The stock has a 50 day moving average of $23.33 and a 200-day moving average of $21.67.

Ennis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.21%. Ennis’s dividend payout ratio (DPR) is 62.50%.

Institutional Trading of Ennis

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in Ennis by 0.7% in the second quarter. Renaissance Technologies LLC now owns 1,537,746 shares of the industrial products company’s stock worth $33,661,000 after buying an additional 11,000 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Ennis by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 339,928 shares of the industrial products company’s stock worth $7,441,000 after acquiring an additional 1,254 shares during the period. American Century Companies Inc. boosted its stake in Ennis by 47.1% during the 2nd quarter. American Century Companies Inc. now owns 274,947 shares of the industrial products company’s stock valued at $6,019,000 after purchasing an additional 88,042 shares during the period. AQR Capital Management LLC boosted its stake in Ennis by 74.5% during the 2nd quarter. AQR Capital Management LLC now owns 268,172 shares of the industrial products company’s stock valued at $5,870,000 after purchasing an additional 114,516 shares during the period. Finally, Empowered Funds LLC grew its position in Ennis by 8.9% in the 1st quarter. Empowered Funds LLC now owns 117,621 shares of the industrial products company’s stock worth $2,412,000 after purchasing an additional 9,615 shares during the last quarter. 74.33% of the stock is currently owned by institutional investors and hedge funds.

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.