Ennis (NYSE:EBF) Shares Cross Below 200 Day Moving Average – Time to Sell?

Shares of Ennis, Inc. (NYSE:EBF) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $22.09 and traded as low as $20.64. Ennis shares last traded at $20.69, with a volume of 77,377 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Ennis from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 23rd.

Ennis Price Performance

The stock has a market cap of $539.08 million, a price-to-earnings ratio of 13.04 and a beta of 0.41. The stock’s 50-day moving average is $21.00 and its 200-day moving average is $22.08.

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

Ennis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, January 10th. Ennis’s dividend payout ratio (DPR) is 62.89%.

Hedge Funds Weigh In On Ennis

Large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. purchased a new position in shares of Ennis in the 2nd quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ennis during the 2nd quarter worth approximately $54,000. FMR LLC raised its holdings in Ennis by 34.6% in the third quarter. FMR LLC now owns 3,324 shares of the industrial products company’s stock valued at $81,000 after buying an additional 855 shares during the period. Nisa Investment Advisors LLC grew its stake in Ennis by 8,888.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 4,045 shares of the industrial products company’s stock worth $85,000 after buying an additional 4,000 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Ennis in the third quarter worth $103,000. Hedge funds and other 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.