Ennis (NYSE:EBF) Reaches New 52-Week High – Here’s Why

Shares of Ennis, Inc. (NYSE:EBF) hit a new 52-week high during trading on Monday . The company traded as high as $21.74 and last traded at $21.3940, with a volume of 321 shares. The stock had previously closed at $21.32.

Analysts Set New Price Targets

EBF has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ennis in a research report on Monday, December 29th. Wall Street Zen raised Ennis from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Ennis presently has a consensus rating of “Hold”.

Ennis Stock Up 1.7%

The firm has a market cap of $548.23 million, a P/E ratio of 13.06 and a beta of 0.35. The company has a 50 day moving average of $20.54 and a two-hundred day moving average of $18.70.

Ennis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, April 13th. Ennis’s payout ratio is currently 60.24%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in Ennis by 3.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,700,919 shares of the industrial products company’s stock worth $30,617,000 after purchasing an additional 55,500 shares in the last quarter. Royce & Associates LP raised its holdings in Ennis by 4.1% during the fourth quarter. Royce & Associates LP now owns 1,300,634 shares of the industrial products company’s stock valued at $23,424,000 after buying an additional 51,634 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Ennis by 7.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,220,960 shares of the industrial products company’s stock worth $21,989,000 after buying an additional 82,521 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Ennis by 0.3% during the 3rd quarter. American Century Companies Inc. now owns 801,901 shares of the industrial products company’s stock worth $14,659,000 after acquiring an additional 2,453 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Ennis by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 798,109 shares of the industrial products company’s stock worth $14,480,000 after acquiring an additional 25,975 shares in the last quarter. Institutional investors own 74.33% of the company’s stock.

About Ennis

Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.

Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.