Ennis Inc . (NYSE:EBF), a leading manufacturer of printed business products, announced the results of its Annual Meeting of Shareholders that took place today. The company reported that a significant majority of shareholders voted in favor of all management proposals.
The meeting saw a strong turnout with 86.9% of eligible votes being cast. Shareholders re-elected three directors to the board: Troy L. Priddy received 16,458,087 votes for, Alejandro Quiroz received 18,942,142 votes for, and Margaret A. Walters received 18,443,095 votes for. The election was uncontested with no opposition to the management's nominees.
In addition to the election of directors, shareholders voted to appoint CohnReznick, LLP as the independent registered public accounting firm for the fiscal year ending 2025. The proposal was approved with 22,412,586 votes for, 112,990 against, and 45,707 abstentions.
A non-binding advisory vote on executive compensation also passed with 18,330,114 votes for, 934,093 against, and 110,632 abstentions. This indicates shareholder support for the company's executive compensation policies.
The current directors, whose terms continued beyond the Annual Meeting, include John R. Blind, Aaron Carter, Barbara T. Clemens, Gary S. Mozina, Michael J. Schaefer, and Keith S. Walters.
In other recent news, Ennis Inc. reported a decrease in quarterly revenue and earnings, with a 7.4% drop in revenue to $103.1 million and earnings per diluted share declining to $0.41 from $0.45 in the previous year. Despite this, the company's EBITDA increased from $18.1 million to $19.0 million, maintaining an EBITDA to sales percentage of 18.4%. In addition, Ennis Inc. announced the acquisition of Printing Technologies, Inc. (PTI), a strategic move expected to enhance its product offerings and market reach.
The financial terms of the acquisition were not disclosed, but the integration of PTI's innovative solutions is anticipated to provide additional value to both companies' customers. In line with these developments, Ennis Inc. also completed the integration of an ERP system at two recent acquisitions, which has started to yield improved performance. Furthermore, the company declared a quarterly cash dividend of 25.0 cents per share, indicating its ongoing financial management strategy to maintain a steady return to its shareholders. These are among the recent developments at Ennis Inc.
InvestingPro Insights
For investors seeking a deeper understanding of Ennis Inc.'s financial health and investment potential, recent data from InvestingPro offers a valuable perspective. With a market capitalization of $603.35 million and a solid P/E ratio of 14.52, Ennis Inc. presents a stable investment profile. Notably, the company's P/E ratio has remained consistent, with the last twelve months as of Q1 2025 showing a similar figure of 14.47.
InvestingPro Tips highlight that Ennis Inc. holds more cash than debt on its balance sheet, indicating a strong liquidity position. Moreover, the company's stock has been performing well, with a robust return over the last three months of 25.32%, and is trading near its 52-week high at 98.27% of the peak price. For those interested in income-generating stocks, it's noteworthy that Enis Inc. has maintained dividend payments for 52 consecutive years, boasting a dividend yield of 4.23% as of 2024.
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