Prudential Financial Inc. increased its holdings in shares of Multi-Color Co. (NASDAQ:LABL) by 22.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,703 shares of the business services provider’s stock after purchasing an additional 5,050 shares during the quarter. Prudential Financial Inc. owned approximately 0.16% of Multi-Color worth $2,270,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its holdings in Multi-Color by 2.9% during the second quarter. TIAA CREF Investment Management LLC now owns 36,387 shares of the business services provider’s stock worth $2,969,000 after purchasing an additional 1,040 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Multi-Color by 45.4% during the second quarter. Parametric Portfolio Associates LLC now owns 31,099 shares of the business services provider’s stock worth $2,538,000 after acquiring an additional 9,714 shares in the last quarter. Pictet Asset Management Ltd. raised its position in Multi-Color by 48.3% during the third quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after acquiring an additional 55,428 shares in the last quarter. Swiss National Bank raised its position in Multi-Color by 8.1% during the second quarter. Swiss National Bank now owns 24,000 shares of the business services provider’s stock worth $1,958,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Multi-Color by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 58,364 shares of the business services provider’s stock worth $4,763,000 after acquiring an additional 2,932 shares in the last quarter. Institutional investors and hedge funds own 66.62% of the company’s stock.
LABL has been the topic of several analyst reports. Zacks Investment Research raised shares of Multi-Color from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Tuesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $88.00 price target on shares of Multi-Color in a research report on Wednesday, October 25th. Robert W. Baird reaffirmed a “hold” rating and set a $85.00 price target on shares of Multi-Color in a research report on Thursday, October 12th. Finally, KeyCorp reaffirmed a “sell” rating and set a $67.00 price target on shares of Multi-Color in a research report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $82.75.
In related news, CEO Michael Julian Henry acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $71.03 per share, with a total value of $71,030.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Nigel A. Vinecombe sold 3,081 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $82.15, for a total transaction of $253,104.15. Following the completion of the transaction, the chairman now directly owns 54,309 shares in the company, valued at $4,461,484.35. The disclosure for this sale can be found here. Insiders sold 38,846 shares of company stock worth $3,188,636 over the last three months. Insiders own 19.40% of the company’s stock.
Shares of Multi-Color Co. (NASDAQ:LABL) opened at $74.95 on Tuesday. 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 Co. has a 1 year low of $63.05 and a 1 year high of $88.25. The stock has a market cap of $1,514.65, a price-to-earnings ratio of 20.58 and a beta of 0.73.
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 the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). Multi-Color had a return on equity of 15.52% and a net margin of 6.10%. The firm had revenue of $256.03 million for the quarter, compared to the consensus estimate of $246.61 million. During the same period last year, the company posted $0.99 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. equities analysts anticipate that Multi-Color Co. will post 3.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Tuesday, November 14th. Multi-Color’s payout ratio is presently 5.90%.
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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