Ennis (NYSE:EBF) Shares Gap Down – What’s Next?

Shares of Ennis, Inc. (NYSE:EBF) gapped down before the market opened on Friday . The stock had previously closed at $24.11, but opened at $21.21. Ennis shares last traded at $21.05, with a volume of 42,454 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Ennis from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

Ennis Price Performance

The company has a market cap of $531.18 million, a PE ratio of 12.93 and a beta of 0.40. The stock has a 50 day simple moving average of $23.39 and a two-hundred day simple moving average of $21.92.

Ennis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 11th will be given a $0.25 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.00 annualized dividend and a yield of 4.89%. Ennis’s dividend payout ratio (DPR) is 63.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Unison Advisors LLC raised its holdings in shares of Ennis by 1.1% in the third quarter. Unison Advisors LLC now owns 38,454 shares of the industrial products company’s stock valued at $935,000 after buying an additional 435 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Ennis by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,786 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 534 shares during the period. EMC Capital Management raised its stake in Ennis by 10.9% during the 1st quarter. EMC Capital Management now owns 9,848 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 971 shares during the last quarter. CWM LLC lifted its position in Ennis by 30.9% during the 3rd quarter. CWM LLC now owns 5,039 shares of the industrial products company’s stock worth $123,000 after acquiring an additional 1,190 shares during the period. Finally, Bank of New York Mellon Corp grew its stake 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 valued at $7,441,000 after purchasing an additional 1,254 shares during the last quarter. 74.33% of the stock is owned by hedge funds and other institutional investors.

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.