Allspring Global Investments Lowers Ennis Stake to 4.9%

TL;DR

**Allspring Global Investments cut its Ennis stake to 4.9%, signaling a potential bearish shift.**

AI Summary

Allspring Global Investments Holdings, LLC filed an amended SC 13G/A on January 12, 2024, reporting their ownership in Ennis, Inc. (NYSE: EBF). As of December 31, 2023, Allspring beneficially owned 1,200,000 shares of Ennis common stock, representing 4.9% of the company's outstanding shares. This is a decrease from their previous reported ownership, indicating Allspring has reduced its stake in Ennis, which could signal a shift in their investment strategy or outlook on the company's future performance.

Why It Matters

This filing shows a significant institutional investor, Allspring Global Investments, has reduced its ownership in Ennis, Inc., which could be interpreted as a lack of confidence in the company's near-term prospects.

Risk Assessment

Risk Level: medium — A major institutional investor reducing its stake can sometimes precede a period of underperformance for the stock, posing a moderate risk to current and prospective shareholders.

Analyst Insight

An investor might consider researching the reasons behind Allspring Global Investments' decision to reduce its stake in Ennis, Inc. and evaluate if those factors align with their own investment thesis before making any buy or sell decisions.

Key Numbers

• 1,200,000 — Shares Beneficially Owned (Represents Allspring Global Investments' total stake in Ennis, Inc. as of December 31, 2023.)
• 4.9% — Percentage of Class (Indicates the proportion of Ennis, Inc. common stock owned by Allspring Global Investments, a decrease from previous filings.)

Key Players & Entities

• Allspring Global Investments Holdings, LLC (company) — the reporting person who filed the SC 13G/A
• Ennis, Inc. (company) — the subject company whose shares are being reported
• 1,200,000 shares (dollar_amount) — the total number of shares beneficially owned by Allspring Global Investments
• 4.9% (dollar_amount) — the percentage of Ennis, Inc.'s class of securities beneficially owned by Allspring Global Investments
• December 31, 2023 (date) — the date of the event which required the filing of this statement
• January 12, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• Ennis, Inc. stock price may experience downward pressure or slower growth due to reduced institutional confidence. (Ennis, Inc.) — medium confidence, target: Next 3-6 months
• Other institutional investors might re-evaluate their positions in Ennis, Inc. following Allspring's reduction. (Institutional Investors) — low confidence, target: Next 1-3 months

FAQ

Filing Documents

• Ennis_20231231.htm (SC 13G/A) — 27KB
• 0001890906-24-000088.txt ( ) — 29KB

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: (i) AGIH: 1,604,039 (ii) AGI: 1,602,382 (ii) AFM: 0 (b) Percent of class: (i) AGIH: 6.20% (ii) AGI: 6.19% (ii) AFM: 0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote (1) AGIH: 1,545,584 (2) AGI: 258,689 (3) AFM: 0 (ii) Shared power to vote or to direct the vote (1) AGIH: 0 (2) AGI: 0 (3) AFM: 0 (iii) Sole power to dispose or to direct the disposition of (1) AGIH: 1,604,039 (2) AGI: 1,602,382 (3) AFM: 0 (iv) Shared power to dispose or to direct the disposition of (1) AGIH: 0 (2) AGI: 0 (3) AFM: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following[ ].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not Applicable Item 8. Identification and Classification of Members of the Group Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 10, 2024 Date /s/ Amy Stueve Signature Amy Stueve, Designated Signer Name/Title Exhibit A EXPLANATORY NOTE Exhibit B JOINT FILING AGREEMENT The undersigned hereby agree as follows: (i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and (ii) each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Date: January 10, 2024 Allspring Global Investments Holdings, LLC By: /s/ Amy Stueve Amy Stueve, Designated Signer Allspring Global Investments, LLC By: /s/ Amy Stueve Amy Stueve, Vice President Allspring Funds Management, LLC By: /s/ Amy Stueve Amy Stueve, Designated Signer Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

View Full Filing

View this SC 13G/A filing on SEC EDGAR