Multi-Color Corporation (LABL) Holdings Cut by State of Tennessee Treasury Department
State of Tennessee Treasury Department decreased its position in shares of Multi-Color Corporation (NASDAQ:LABL) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,600 shares of the business services provider’s stock after selling 733 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.07% of Multi-Color worth $951,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new position in shares of Multi-Color during the 2nd quarter worth $105,000. Pinebridge Investments L.P. grew its stake in shares of Multi-Color by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after acquiring an additional 18 shares during the period. Eqis Capital Management Inc. bought a new position in shares of Multi-Color during the 3rd quarter worth $201,000. State of Alaska Department of Revenue lifted its holdings in Multi-Color by 79.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,613 shares of the business services provider’s stock worth $213,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Multi-Color by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,697 shares of the business services provider’s stock worth $220,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 60.62% of the company’s stock.
Shares of Multi-Color Corporation (LABL) opened at $72.80 on Friday. The stock has a market capitalization of $1,488.10, a PE ratio of 20.22 and a beta of 0.78. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.48 and a current ratio of 1.96. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25.
Multi-Color (NASDAQ:LABL) last released its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.05). Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. The business had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. During the same period in the previous year, the business earned $0.99 EPS. The business’s revenue was up 10.3% on a year-over-year basis. analysts expect that Multi-Color Corporation will post 3.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. Multi-Color’s payout ratio is currently 5.90%.
A number of analysts recently issued reports on the company. Robert W. Baird reissued a “hold” rating and set a $85.00 price objective on shares of Multi-Color in a report on Thursday, October 12th. Zacks Investment Research raised Multi-Color from a “hold” rating to a “strong-buy” rating and set a $96.00 price objective on the stock in a report on Wednesday, October 11th. Finally, BMO Capital Markets reissued a “hold” rating and set a $88.00 price objective on shares of Multi-Color in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $82.75.
In other news, insider Nigel A. Vinecombe sold 10,301 shares of the stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $82.06, for a total transaction of $845,300.06. Following the transaction, the insider now directly owns 54,309 shares in the company, valued at approximately $4,456,596.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Julian Henry acquired 1,000 shares of Multi-Color stock in a transaction dated Monday, November 13th. The shares were purchased at an average price of $71.03 per share, for a total transaction of $71,030.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 63,846 shares of company stock worth $5,194,386. Insiders own 19.40% of the company’s stock.
Multi-Color Corporation (Multi-Color) is engaged in label solutions business, supporting brands, including producers of home and personal care, wine and spirit, food and beverage, healthcare and specialty consumer products. The Company serves international brand owners in North, Central and South America, Europe, Australia, New Zealand, South Africa and China and Southeast Asia with a range of label technologies in Pressure Sensitive, Glue-Applied (Cut and Stack), In-Mold, Shrink Sleeve and Heat Transfer.
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