California Public Employees Retirement System Has $3.12 Million Holdings in Multi-Color Co. (LABL)

California Public Employees Retirement System grew its position in shares of Multi-Color Co. (NASDAQ:LABL) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,120 shares of the business services provider’s stock after purchasing an additional 2,520 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Multi-Color worth $3,124,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Pinebridge Investments L.P. raised its holdings 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 purchasing an additional 18 shares during the last quarter. Victory Capital Management Inc. raised its holdings in 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 purchasing an additional 404 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in Multi-Color by 7.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,990 shares of the business services provider’s stock worth $652,000 after purchasing an additional 540 shares during the last quarter. Voya Investment Management LLC raised its holdings in Multi-Color by 10.6% during the 2nd quarter. Voya Investment Management LLC now owns 6,680 shares of the business services provider’s stock worth $545,000 after purchasing an additional 642 shares during the last quarter. Finally, Comerica Bank raised its holdings in Multi-Color by 4.8% during the 3rd quarter. Comerica Bank now owns 15,000 shares of the business services provider’s stock worth $1,211,000 after purchasing an additional 692 shares during the last quarter. Hedge funds and other institutional investors own 63.50% of the company’s stock.

In related news, CEO Michael Julian Henry acquired 1,000 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $71.03 per share, for a total transaction of $71,030.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $686,731.80. Following the completion of the sale, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The disclosure for this sale can be found here. Insiders own 19.40% of the company’s stock.

Shares of Multi-Color Co. (NASDAQ:LABL) opened at $77.90 on Monday. The firm has a market cap of $1,592.35, a price-to-earnings ratio of 22.98 and a beta of 0.73. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.96 and a quick ratio of 1.48. Multi-Color Co. has a one year low of $63.05 and a one year high of $88.25.

Multi-Color (NASDAQ:LABL) last released its quarterly earnings data 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 company had revenue of $256.03 million during 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%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. analysts expect that Multi-Color Co. will post 3.84 earnings per share for the current fiscal year.

Several research firms have issued reports on LABL. 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. BidaskClub upgraded shares of Multi-Color from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Multi-Color from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 13th. BMO Capital Markets reiterated a “hold” rating and issued a $88.00 price objective on shares of Multi-Color in a research note on Monday, September 25th. Finally, Hilliard Lyons upgraded shares of Multi-Color from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Three 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $82.75.

TRADEMARK VIOLATION WARNING: This story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US & international trademark & copyright laws. The legal version of this story can be viewed at https://ledgergazette.com/2018/01/15/california-public-employees-retirement-system-has-3-12-million-holdings-in-multi-color-co-labl.html.

About Multi-Color

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.

Want to see what other hedge funds are holding LABL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Multi-Color Co. (NASDAQ:LABL).

Institutional Ownership by Quarter for Multi-Color (NASDAQ:LABL)

Receive News & Ratings for Multi-Color Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply