Assenagon Asset Management S.A., a prominent institutional investor, has recently acquired a significant stake in Ennis, Inc. This purchase was made during the first quarter and is reflected in Assenagon’s most recent 13F filing with the Securities and Exchange Commission (SEC). The acquisition involved 47,475 shares of Ennis’ stock, which were valued at approximately $1,001,000. At the end of the reporting period, Assenagon Asset Management S.A. owned 0.18% of Ennis.
In another development within the company, General Counsel Daniel Gus demonstrated his confidence in Ennis by purchasing 2,000 shares of its stock on Monday, May 8th. The average price per share during this transaction was $19.19, resulting in a total expenditure of $38,380. Following this purchase, Gus now holds 5,373 shares in Ennis, with an estimated value of about $103,107.87. This acquisition was documented and disclosed to the SEC by means of a filed document that can be accessed through a provided link. It should also be noted that insiders hold approximately 2.60% of the company’s stock.
Ennis began trading on Monday at $20.07 per share. Over the last fifty days, the business has maintained a simple moving average of $20.19; whereas over two hundred days it has retained a simple moving average of $20.85. Notably, Ennis’ one-year low stands at $18.94 while its one-year high reaches as high as $23.48. In terms of market capitalization, the firm currently sits at around $518.81 million and boasts a price-to-earnings ratio of 10.97 along with a beta value of 0.
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Institutional Investors Show Confidence in Ennis as Financial Landscape Evolves
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”EBF” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Ennis, a renowned industrial products company, has seen some significant changes in its financial landscape recently. According to reports, several hedge funds and institutional investors have made notable adjustments to their positions in the company. This news has piqued the interest of many industry experts and market analysts. Let’s take a closer look at these developments and what they mean for Ennis.
One such investor, GPS Wealth Strategies Group LLC, has bought a new position in Ennis during the first quarter of this year. The value of this transaction is estimated to be approximately $88,000. This acquisition showcases the potential that investors see in Ennis and demonstrates their confidence in the company’s growth prospects.
Another institutional investor, Unison Advisors LLC, has increased its stake in Ennis by 1.4% during the same period. They now own around 35,822 shares of Ennis stock with an estimated value of $755,000. This move indicates that Unison Advisors LLC believes in the long-term sustainability and profitability of the company.
In addition to these investments, Lakewood Asset Management LLC has also decided to purchase a new stake in Ennis worth approximately $172,000. This decision further emphasizes the appeal that Ennis holds for investors who are seeking lucrative opportunities within the industrial products sector.
MBM Wealth Consultants LLC has taken a slightly different approach by increasing its stake in Ennis by over 28% during the fourth quarter of last year. Their current ownership stands at 6,262 shares with a total value of $143,000. Such substantial increments undoubtedly speak volumes about investor sentiment regarding Ennis’ potential for growth.
Lazard Asset Management LLC rounds out this list with an increase in holdings by 10.1% during Q4 2020. With over 13,215 shares valued at $292,000 now under their nameplate, Lazard Asset Management recognizes the value proposition presented by Ennis.
It is essential to note that these institutional investors and hedge funds own a significant portion of Ennis, with approximately 73.76% of the company’s stock under their control. This statistic demonstrates the high degree of interest and confidence that these industry experts have in the company’s future performance.
Separately, StockNews.com has downgraded Ennis from a “strong-buy” rating to a “buy” rating in a research note published on June 9th. While this may seem like cause for concern, it is not unusual for analysts to revise their ratings based on various factors such as market conditions or changes in business strategies. Investors should carefully consider all available information before making any investment decisions.
Furthermore, Ennis made headlines when their General Counsel, Daniel Gus, purchased 2,000 shares of the company’s stock on May 8th. The average price per share amounted to $19.19, totaling $38,380.00. Following this purchase, Gus now holds 5,373 shares valued at approximately $103,107.87. Such insider transactions can often serve as indicators of confidence in the company by its own management team.
Ennis recently reported its earnings results on April 24th and posted an impressive EPS (earnings-per-share) of $0.30 for the quarter. Additionally, they revealed revenue figures amounting to $102.69 million during this period. These robust financial results highlight Ennis’ ability to generate substantial profits while maintaining strong sales figures.
To add to its already successful year so far, Ennis declared a quarterly dividend which will be paid out on August 7th. Stockholders recorded on July 7th will receive a dividend payment of $0.25 per share owned. This represents an annualized dividend of $1 and provides shareholders with an attractive dividend yield of 4.98%.
In conclusion, Ennis has witnessed significant developments in recent times with hedge funds and institutional investors making notable changes to their positions in the company. The trust and confidence showcased by these investors highlight Ennis’ potential for growth and profitability. As the company continues to expand, it will be interesting to see how these investments pan out, potentially attracting further attention from both experienced investors and new market entrants alike.
