Ennis (EBF) Declares $0.25 Dividend
Ennis said on March 27, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of April 14, 2023 to qualify for the dividend. Shareholders of record as of April 17, 2023 will receive the payment on May 8, 2023.
At the current share price of $21.05 / share, the stock's dividend yield is 4.75%. Looking back five years and taking a sample every week, the average dividend yield has been 4.75%, the lowest has been 3.90%, and the highest has been 6.00%. The standard deviation of yields is 0.45 (n=237).
The current dividend yield is 0.01 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 25.99% Upside
As of March 27, 2023, the average one-year price target for Ennis is $26.52. The forecasts range from a low of $26.26 to a high of $27.30. The average price target represents an increase of 25.99% from its latest reported closing price of $21.05.
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The projected annual revenue for Ennis is $420MM, a decrease of 2.04%. The projected annual non-GAAP EPS is $1.55, a decrease of 10.00% from the prior forecast.
What is the Fund Sentiment?
There are 340 funds or institutions reporting positions in Ennis. This is a decrease of 3 owner(s) or 0.87% in the last quarter. Average portfolio weight of all funds dedicated to EBF is 0.09%, an increase of 6.48%. Total shares owned by institutions increased in the last three months by 0.25% to 23,979K shares. The put/call ratio of EBF is 8.26, indicating a bearish outlook.
What are Large Shareholders Doing?
Allspring Global Investments Holdings holds 1,705K shares representing 6.60% ownership of the company. In it's prior filing, the firm reported owning 1,707K shares, representing a decrease of 0.16%. The firm increased its portfolio allocation in EBF by 5.96% over the last quarter.
Renaissance Technologies holds 1,578K shares representing 6.11% ownership of the company. In it's prior filing, the firm reported owning 1,769K shares, representing a decrease of 12.13%. The firm decreased its portfolio allocation in EBF by 5.05% over the last quarter.
Royce & Associates holds 1,456K shares representing 5.63% ownership of the company. In it's prior filing, the firm reported owning 1,442K shares, representing an increase of 0.97%. The firm increased its portfolio allocation in EBF by 2.74% over the last quarter.
ESPAX - Wells Fargo Special Small Cap Value Fund holds 1,253K shares representing 4.85% ownership of the company. In it's prior filing, the firm reported owning 1,256K shares, representing a decrease of 0.24%. The firm increased its portfolio allocation in EBF by 1.64% over the last quarter.
RYSEX - Royce Special Equity Fund Investment Class holds 1,250K shares representing 4.84% ownership of the company. In it's prior filing, the firm reported owning 1,242K shares, representing an increase of 0.68%. The firm increased its portfolio allocation in EBF by 8.64% over the last quarter.
Ennis Background Information
(This description is provided by the company.)
Since 1909, Ennis, Inc. has primarily engaged in the production and sale of business forms and other business products. The Company is one of the largest private-label printed business product suppliers in the United States. Headquartered in Midlothian, Texas, the Company has production and distribution facilities strategically located throughout the United States to serve the Company's national network of distributors. The Company manufactures and sells business forms, other printed business and commercial products, printed and electronic media, presentation products, flexographic printing, internal bank forms, secure and negotiable documents, envelopes, tags and labels, advertising specialties, adhesive notes, plastic cards and other custom products.
This story originally appeared on Fintel.