EMC Capital Management Cuts Holdings in Ennis, Inc. $EBF

EMC Capital Management lowered its stake in shares of Ennis, Inc. (NYSE:EBF) by 58.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,141 shares of the industrial products company’s stock after selling 5,707 shares during the period. EMC Capital Management’s holdings in Ennis were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Ennis by 20.5% during the first quarter. CWM LLC now owns 4,526 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 770 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Ennis by 57.6% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 169,593 shares of the industrial products company’s stock worth $3,407,000 after buying an additional 62,016 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Ennis by 25.5% during the first quarter. KLP Kapitalforvaltning AS now owns 60,000 shares of the industrial products company’s stock worth $1,205,000 after acquiring an additional 12,200 shares in the last quarter. Unison Advisors LLC lifted its stake in shares of Ennis by 13.0% in the 1st quarter. Unison Advisors LLC now owns 43,974 shares of the industrial products company’s stock valued at $883,000 after acquiring an additional 5,059 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Ennis by 2.3% during the first quarter. Federated Hermes Inc. now owns 24,807 shares of the industrial products company’s stock valued at $498,000 after purchasing an additional 555 shares during the period. 74.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Ennis news, COO Boyne Wade Brewer bought 2,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $17.05 per share, with a total value of $34,100.00. Following the completion of the purchase, the chief operating officer owned 23,684 shares of the company’s stock, valued at approximately $403,812.20. This trade represents a 9.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EBF shares. Wall Street Zen upgraded shares of Ennis from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Ennis in a report on Thursday, October 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Ennis presently has an average rating of “Hold”.

Ennis Price Performance

Shares of EBF opened at $16.62 on Thursday. The company has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $18.09. The firm has a market capitalization of $426.05 million, a PE ratio of 10.20 and a beta of 0.41. Ennis, Inc. has a one year low of $16.30 and a one year high of $22.00.

Ennis (NYSE:EBF) last announced its earnings results on Monday, September 22nd. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.13. The firm had revenue of $98.68 million during the quarter, compared to analyst estimates of $99.00 million. Ennis had a return on equity of 13.99% and a net margin of 10.86%.

Ennis Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, October 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 10th. This represents a $1.00 annualized dividend and a yield of 6.0%. Ennis’s dividend payout ratio (DPR) is currently 61.35%.

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.