Ennis (NYSE:EBF) Shares Down 3.5% – Time to Sell?

Ennis, Inc. (NYSE:EBF)’s stock price was down 3.5% during trading on Monday . The company traded as low as $19.69 and last traded at $19.52. Approximately 142,975 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 133,390 shares. The stock had previously closed at $20.23.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Ennis from a “buy” rating to a “strong-buy” rating in a report on Friday, February 21st.

Ennis Trading Down 2.9 %

The firm has a market capitalization of $510.77 million, a P/E ratio of 12.35 and a beta of 0.40. The firm has a 50 day moving average price of $20.87 and a 200-day moving average price of $21.50.

Ennis (NYSE:EBF) last released its quarterly earnings results on Monday, December 23rd. The industrial products company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Ennis had a return on equity of 12.16% and a net margin of 10.35%.

Ennis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.09%. Ennis’s payout ratio is currently 62.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Ennis by 5.4% during the third quarter. Geode Capital Management LLC now owns 706,924 shares of the industrial products company’s stock valued at $17,195,000 after purchasing an additional 36,187 shares during the period. JPMorgan Chase & Co. increased its position in shares of Ennis by 282.8% during the third quarter. JPMorgan Chase & Co. now owns 250,932 shares of the industrial products company’s stock worth $6,103,000 after acquiring an additional 185,373 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Ennis by 61.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 28,751 shares of the industrial products company’s stock valued at $699,000 after acquiring an additional 10,995 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Ennis by 8,888.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,045 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 4,000 shares during the period. Finally, New York State Common Retirement Fund raised its position in Ennis by 143.1% during the 4th quarter. New York State Common Retirement Fund now owns 23,615 shares of the industrial products company’s stock valued at $498,000 after purchasing an additional 13,900 shares in the last quarter. Institutional investors own 74.33% of the company’s stock.

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.