Renaissance Group LLC Acquires Shares of 5,448 Multi-Color Co. (LABL)
Renaissance Group LLC acquired a new position in shares of Multi-Color Co. (NASDAQ:LABL) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,448 shares of the business services provider’s stock, valued at approximately $408,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Multi-Color during the third quarter worth approximately $129,000. Zions Bancorporation acquired a new stake in Multi-Color during the third quarter worth approximately $154,000. Eqis Capital Management Inc. acquired a new stake in Multi-Color during the third quarter worth approximately $201,000. Magnetar Financial LLC acquired a new stake in Multi-Color during the third quarter worth approximately $203,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Multi-Color during the second quarter worth approximately $233,000. 63.76% of the stock is owned by institutional investors and hedge funds.
Multi-Color Co. (LABL) opened at $68.85 on Friday. The firm has a market cap of $1,407.36, a price-to-earnings ratio of 19.07 and a beta of 0.76. Multi-Color Co. has a 1-year low of $65.21 and a 1-year high of $89.70. The company has a quick ratio of 1.48, a current ratio of 1.94 and a debt-to-equity ratio of 1.13.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.29%. Multi-Color’s dividend payout ratio (DPR) is presently 5.35%.
A number of brokerages recently issued reports on LABL. Robert W. Baird decreased their target price on shares of Multi-Color from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of Multi-Color from $88.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday. BidaskClub lowered shares of Multi-Color from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Zacks Investment Research lowered shares of Multi-Color from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Finally, Hilliard Lyons upgraded shares of Multi-Color from a “neutral” rating to a “buy” rating in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $76.75.
In other Multi-Color news, Director Robert R. Buck sold 9,530 shares of Multi-Color stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total value of $686,731.80. Following the transaction, the director now owns 17,441 shares in the company, valued at approximately $1,256,798.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Julian Henry bought 1,000 shares of Multi-Color stock in a transaction that occurred on Monday, November 13th. The shares were acquired 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. 19.40% of the stock is owned by company insiders.
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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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