The industrial products sector is currently witnessing dynamic movements in shareholder activity, with Ennis Inc. (NYSE:EBF) at the center of recent institutional investment shifts. A significant development includes Allianz Asset Management GmbH’s decision to trim its stake, signaling a notable adjustment in its portfolio strategy for the first quarter.
According to its latest 13F filing with the SEC, Allianz Asset Management GmbH reduced its holdings in Ennis Inc. by 3.9%, offloading 1,316 shares. This strategic move brought their total ownership down to 32,774 shares, which, at the time of the filing, represented approximately 0.13% of Ennis’s stock, valued at $658,000. This particular shareholder activity provides a glimpse into the evolving investment landscape among major asset managers.
However, Allianz’s reduction stands in contrast to the increased confidence shown by several other prominent institutional investors. Denali Advisors LLC, for instance, expanded its position in Ennis Inc. Stock by 3.6% in the first quarter, accumulating an additional 1,724 shares to reach a total of 49,174 shares, valued at $988,000. Similarly, MQS Management LLC entered the market with a new position, acquiring shares worth approximately $349,000, underscoring growing interest from diverse investment firms.
Further demonstrating robust institutional investments, CWM LLC boosted its Ennis holdings by a substantial 20.5%, acquiring 770 additional shares to own 4,526 shares worth $91,000. Alps Advisors Inc. also notably grew its stake by 7.8%, adding 11,451 shares to reach 158,685 shares, valued at $3,188,000. The Teacher Retirement System of Texas increased its position by 11.7%, purchasing 22,047 more shares to hold 210,357 shares, valued at $4,226,000, collectively highlighting significant institutional confidence in the company, with 74.33% of the stock held by such entities.
Market performance for NYSE EBF reflects these intricate financial dynamics. Shares commenced trading at $17.58 on a recent Friday, navigating a fifty-day simple moving average of $18.39 and a 200-day simple moving average of $19.40. Ennis Inc. has observed a 12-month low of $17.15 and a 12-month high of $25.75, with a current market capitalization hovering around $453.56 million, a P/E ratio of 11.57, and a beta of 0.48.
Adding to its appeal for investors, Ennis Inc. recently declared a significant corporate dividend. Shareholders of record by Friday, July 11th, are slated to receive a $0.25 quarterly dividend, payable on Monday, August 11th. This translates to an annualized dividend of $1.00, yielding 5.7%, with the company’s payout ratio currently standing at 65.79%, reinforcing its commitment to shareholder returns.
Beyond institutional trades and dividends, the company has seen other notable financial movements. A research report on Tuesday, April 22nd, saw a prominent firm adjust Ennis from a “strong-buy” to a “buy” rating, indicating a refined outlook. Furthermore, insider shareholder activity revealed Director Walter D. Gruenes acquiring 5,500 shares at an average cost of $17.99, amounting to a $98,945 transaction. This purchase significantly increased his direct ownership to 10,743 shares, demonstrating a robust 104.90% increase in his personal stake.
Ennis, Inc. distinguishes itself as a key manufacturer and seller of diverse business forms and related products across the United States. Its extensive portfolio includes items like snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, and integrated products, marketed under a wide array of recognized brands such as Ennis, Royal Business Forms, 360º Custom Labels, and many others, solidifying its position within the industrial products landscape.
