Advisors Asset Management Inc. lessened its position in shares of Multi-Color Co. (NASDAQ:LABL) by 40.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 3,566 shares of the business services provider’s stock after selling 2,425 shares during the quarter. Advisors Asset Management Inc.’s holdings in Multi-Color were worth $292,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in Multi-Color during the 2nd quarter valued at approximately $105,000. Pinebridge Investments L.P. boosted its holdings 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 buying an additional 18 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Multi-Color during the 3rd quarter worth approximately $201,000. Victory Capital Management Inc. boosted its holdings in shares of 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 buying an additional 404 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new position in shares of Multi-Color during the 2nd quarter worth approximately $233,000. 66.62% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Michael Julian Henry bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $71.03 per share, for a total transaction of $71,030.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Nigel A. Vinecombe sold 3,081 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $82.15, for a total value of $253,104.15. Following the completion of the transaction, the chairman now owns 54,309 shares in the company, valued at $4,461,484.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,846 shares of company stock worth $3,188,636. 19.40% of the stock is owned by company insiders.
Multi-Color Co. (NASDAQ LABL) opened at $75.05 on Thursday. The stock has a market capitalization of $1,532.02, a P/E ratio of 20.82 and a beta of 0.73. Multi-Color Co. has a twelve month low of $63.05 and a twelve month high of $88.25. The company has a current ratio of 1.96, a quick ratio of 1.48 and a debt-to-equity ratio of 1.13.
Multi-Color (NASDAQ:LABL) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.05). The business had revenue of $256.03 million for the quarter, compared to the consensus estimate of $246.61 million. Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. Multi-Color’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. sell-side analysts anticipate that Multi-Color Co. will post 3.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Tuesday, November 14th. Multi-Color’s dividend payout ratio is currently 5.90%.
A number of equities analysts have issued reports on the company. Robert W. Baird restated a “hold” rating and set a $80.00 price target on shares of Multi-Color in a report on Friday, November 10th. Zacks Investment Research cut Multi-Color from a “hold” rating to a “sell” rating in a report on Friday, November 10th. BMO Capital Markets restated a “hold” rating and set a $88.00 price target on shares of Multi-Color in a report on Wednesday, October 25th. Finally, KeyCorp restated a “sell” rating and set a $67.00 price target on shares of Multi-Color in a report on Friday, August 25th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $82.75.
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Multi-Color Company 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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