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By Scott Rubin

A simple screen looking for cheap stocks which have dividend yields above 3% and have Strong Buy ratings from Wall Street analysts turned up three interesting names that the market may be overlooking.

The metrics used for the screen were a P/E below 15, a PEG ratio below 1, a dividend yield above 3% and an analyst recommendation of "Strong Buy." The screen turned up three small-cap names that could be of interest to investors.

Ennis, Inc. (NYSE:EBF) - This company has two different business segments, prints and apparel. Ennis prints and manufactures a line of business forms and other business products and also manufactures a line of activewear, including t-shirts, fleece goods, and other apparel.

The apparel segment accounted for around 45% of Ennis' sales in fiscal 2010. While the company's business lines are hardly sexy, Ennis is a cheap stock which pays a nice dividend. The company has a market cap of around $425 million at current levels. The shares trade at a trailing P/E of 11, a forward P/E of 10.10 and a PEG ratio of 0.65.

The one analyst that covers the name has a price target on the stock of $17.00 which compares to its current price of $16.30. Currently, EBF shares are yielding a very healthy 3.8%. Year-to-date, the stock is up roughly 22%.

Newcastle Investment Corp. (NYSE:NCT) - This company is a real estate related investment company which actively manages a portfolio of real estate securities, loans and other real estate related assets. Newcastle was hit extremely hard during the financial crisis and due to the nature of its business, the stock is inherently risky. This view is backed up by its hefty 12.18% dividend yield. In the wake of the financial crisis, NCT suspended its divided for a number of years, but started making payouts again in June of 2011.

Shares trade at a trailing P/E of 1.87, a forward P/E of 3.97 and a PEG ratio of 0.94. The company currently has a market cap of $691 million. Three analysts cover the stock and they have a median price target of $9.00 on the name with a high target of $10.00.

Currently, NCT trades at $6.57. Year-to-date, shares been moving aggressively higher, tacking on more than 40% in 2012. Over the last 52-weeks, the stock is up over 8%.

Rose Rock Midstream LP (NYSE:RRMS) - This company operates an energy MLP which owns, operates, develops and acquires a diversified portfolio of midstream energy assets. At current levels, RRMS yields 5.82%.

Since beginning to trade on the New York Stock Exchange in December 2011, RRMS has risen 26.52% and currently has a market capitalization of $427 million. While shares currently trade at $24.90, Wall Street analysts have a median price target of $26.25 on the name.

Disclaimer: Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Source: 3 Stocks The Market May Be Overlooking