State Street Corp grew its holdings in shares of Multi-Color Corporation (NASDAQ:LABL) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 327,791 shares of the business services provider’s stock after purchasing an additional 12,528 shares during the quarter. State Street Corp owned approximately 1.92% of Multi-Color Corporation worth $26,748,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of Multi-Color Corporation during the 2nd quarter worth $105,000. Pinebridge Investments L.P. lifted its stake in shares of Multi-Color Corporation 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 purchasing an additional 18 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Multi-Color Corporation 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 during the period. Victory Capital Management Inc. lifted its stake in shares of Multi-Color Corporation 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 during the period. Finally, Atria Investments LLC lifted its stake in shares of Multi-Color Corporation by 0.8% during the 2nd quarter. Atria Investments LLC now owns 2,968 shares of the business services provider’s stock worth $242,000 after purchasing an additional 24 shares during the period. 60.66% of the stock is currently owned by institutional investors.
In related news, 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 transaction, the chairman now directly owns 54,309 shares of the company’s stock, valued at approximately $4,461,484.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $80.23, for a total value of $2,005,750.00. Following the completion of the transaction, the insider now directly owns 54,309 shares in the company, valued at $4,357,211.07. The disclosure for this sale can be found here. Insiders sold a total of 63,846 shares of company stock worth $5,194,386 over the last ninety days. Corporate insiders own 19.40% of the company’s stock.
Multi-Color Corporation (NASDAQ:LABL) opened at $71.40 on Monday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.96 and a quick ratio of 1.48. The firm has a market capitalization of $1,459.46, a price-to-earnings ratio of 19.83 and a beta of 0.78. Multi-Color Corporation has a 52-week low of $63.05 and a 52-week high of $88.25.
Multi-Color Corporation (NASDAQ:LABL) last issued its 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). The firm had revenue of $256.03 million during the quarter, compared to analysts’ expectations of $246.61 million. Multi-Color Corporation had a return on equity of 15.52% and a net margin of 6.10%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. analysts predict that Multi-Color Corporation will post 3.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, November 14th. Multi-Color Corporation’s dividend payout ratio (DPR) is currently 5.90%.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Robert W. Baird reissued a “hold” rating and set a $80.00 price target on shares of Multi-Color Corporation in a research note on Friday. BMO Capital Markets reissued a “hold” rating and set a $88.00 price target on shares of Multi-Color Corporation in a research note on Monday, September 25th. Finally, KeyCorp reissued a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a research note on Friday, August 25th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Multi-Color Corporation presently has a consensus rating of “Hold” and a consensus target price of $82.75.
About Multi-Color Corporation
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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