Ameriprise Financial Inc. boosted its stake in shares of Multi-Color Co. (NASDAQ:LABL) by 3.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,340 shares of the business services provider’s stock after purchasing an additional 2,240 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.42% of Multi-Color worth $5,846,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Pinebridge Investments L.P. boosted its position in 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 acquiring an additional 18 shares during the period. Rhumbline Advisers lifted its holdings in shares of Multi-Color by 0.8% in the second quarter. Rhumbline Advisers now owns 25,798 shares of the business services provider’s stock valued at $2,105,000 after buying an additional 217 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Multi-Color by 17.6% in the second quarter. Victory Capital Management Inc. now owns 2,697 shares of the business services provider’s stock valued at $220,000 after buying an additional 404 shares during the period. Thrivent Financial For Lutherans lifted its holdings in shares of Multi-Color by 7.2% in the second quarter. Thrivent Financial For Lutherans now owns 7,990 shares of the business services provider’s stock valued at $652,000 after buying an additional 540 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Multi-Color by 10.6% in the second quarter. Voya Investment Management LLC now owns 6,680 shares of the business services provider’s stock valued at $545,000 after buying an additional 642 shares during the period. Institutional investors own 63.50% of the company’s stock.
A number of equities research analysts have recently issued reports on LABL shares. Zacks Investment Research raised Multi-Color from a “hold” rating to a “strong-buy” rating and set a $96.00 target price on the stock in a research report on Wednesday, October 11th. Robert W. Baird reaffirmed a “hold” rating and set a $80.00 target price on shares of Multi-Color in a research report on Friday, November 10th. BMO Capital Markets reissued a “hold” rating and set a $88.00 price target on shares of Multi-Color in a research report on Wednesday, October 25th. BidaskClub lowered Multi-Color from a “sell” rating to a “strong sell” rating in a research report on Friday, December 15th. Finally, Hilliard Lyons raised Multi-Color from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $82.75.
Shares of Multi-Color Co. (NASDAQ LABL) opened at $77.90 on Friday. Multi-Color Co. has a 52 week low of $63.05 and a 52 week high of $88.25. The firm has a market capitalization of $1,590.00, a P/E ratio of 22.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.48 and a current ratio of 1.96.
Multi-Color (NASDAQ:LABL) last announced 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 business had revenue of $256.03 million for the quarter, compared to the consensus estimate of $246.61 million. Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. Multi-Color’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 EPS. equities analysts forecast that Multi-Color Co. will post 3.83 earnings per share for the current year.
In other Multi-Color news, CEO Michael Julian Henry purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $71.03 per share, with a total value of $71,030.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert R. Buck sold 9,530 shares of the 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 completion of the transaction, the director now owns 17,441 shares in the company, valued at $1,256,798.46. The disclosure for this sale can be found here. Corporate insiders own 19.40% of the company’s stock.
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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