Multi-Color Corporation (LABL) Shares Bought by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. raised its holdings in Multi-Color Corporation (NASDAQ:LABL) by 48.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 170,151 shares of the business services provider’s stock after buying an additional 55,428 shares during the quarter. Pictet Asset Management Ltd. owned about 1.00% of Multi-Color Corporation worth $13,944,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in LABL. BlackRock Inc. raised its stake in Multi-Color Corporation by 125,662.5% in the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock valued at $114,113,000 after buying an additional 1,605,967 shares during the last quarter. Tributary Capital Management LLC increased its holdings in shares of Multi-Color Corporation by 12.0% in the second quarter. Tributary Capital Management LLC now owns 264,577 shares of the business services provider’s stock valued at $21,589,000 after purchasing an additional 28,449 shares during the period. AMI Asset Management Corp increased its holdings in shares of Multi-Color Corporation by 20.0% in the second quarter. AMI Asset Management Corp now owns 161,258 shares of the business services provider’s stock valued at $13,159,000 after purchasing an additional 26,849 shares during the period. Vanguard Group Inc. increased its holdings in shares of Multi-Color Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock valued at $58,348,000 after purchasing an additional 25,470 shares during the period. Finally, State Street Corp increased its holdings in shares of Multi-Color Corporation by 8.4% in the first quarter. State Street Corp now owns 315,263 shares of the business services provider’s stock valued at $22,383,000 after purchasing an additional 24,447 shares during the period. Institutional investors own 73.76% of the company’s stock.
Shares of Multi-Color Corporation (LABL) opened at $81.30 on Tuesday. The company has a market capitalization of $1,379.83, a PE ratio of 22.93 and a beta of 0.78. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25. The company has a current ratio of 1.88, a quick ratio of 1.38 and a debt-to-equity ratio of 1.14.
Multi-Color Corporation (NASDAQ:LABL) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $242.40 million for the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. Multi-Color Corporation’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. analysts predict that Multi-Color Corporation will post 3.91 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Tuesday, November 14th. Multi-Color Corporation’s dividend payout ratio (DPR) is 5.76%.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $80.23, for a total transaction of $2,005,750.00. Following the sale, the insider now directly owns 54,309 shares of the company’s stock, valued at $4,357,211.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Nigel A. Vinecombe sold 10,765 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $82.08, for a total value of $883,591.20. Following the sale, the chairman now directly owns 54,309 shares in the company, valued at $4,457,682.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,846 shares of company stock worth $5,194,386. 19.40% of the stock is owned by corporate insiders.
A number of research analysts have recently weighed in on LABL shares. BMO Capital Markets reissued a “hold” rating and issued a $88.00 price objective on shares of Multi-Color Corporation in a report on Wednesday, October 25th. Zacks Investment Research lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird reissued a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. Finally, KeyCorp reissued a “sell” rating and issued a $67.00 price objective on shares of Multi-Color Corporation in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Multi-Color Corporation presently has a consensus rating of “Hold” and an average price target of $84.00.
Multi-Color Corporation Profile
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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