AMI Asset Management Corp reduced its stake in Multi-Color Co. (NASDAQ:LABL) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,513 shares of the business services provider’s stock after selling 3,189 shares during the quarter. AMI Asset Management Corp owned about 0.80% of Multi-Color worth $12,239,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of LABL. Pictet Asset Management Ltd. boosted its position in shares of Multi-Color by 48.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 170,151 shares of the business services provider’s stock worth $13,944,000 after purchasing an additional 55,428 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Multi-Color by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after purchasing an additional 25,470 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Multi-Color by 15.6% in the 2nd quarter. Stifel Financial Corp now owns 145,693 shares of the business services provider’s stock worth $11,915,000 after purchasing an additional 19,686 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Multi-Color by 113.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 29,875 shares of the business services provider’s stock worth $2,447,000 after purchasing an additional 15,903 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Multi-Color by 144.1% in the 3rd quarter. First Trust Advisors LP now owns 25,604 shares of the business services provider’s stock worth $2,098,000 after purchasing an additional 15,116 shares in the last quarter. 63.50% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on LABL. Zacks Investment Research cut Multi-Color from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Hilliard Lyons raised Multi-Color from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. BidaskClub raised Multi-Color from a “strong sell” rating to a “sell” rating in a research report on Friday, December 22nd. Robert W. Baird reissued a “hold” rating and issued a $80.00 price target on shares of Multi-Color in a research report on Friday, November 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $88.00 price objective on shares of Multi-Color in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Multi-Color has a consensus rating of “Hold” and an average price target of $82.75.
Multi-Color Co. (NASDAQ:LABL) traded up $1.05 during mid-day trading on Tuesday, reaching $78.95. The company had a trading volume of 133,214 shares, compared to its average volume of 56,890. The company has a market cap of $1,600.00, a PE ratio of 23.22 and a beta of 0.73. Multi-Color Co. has a fifty-two week low of $63.05 and a fifty-two week high of $88.25. 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 (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.05). The business 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 period last year, the company posted $0.99 earnings per share. analysts predict that Multi-Color Co. will post 3.84 EPS for the current year.
In related news, Director Robert R. Buck sold 9,530 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $72.06, for a total value of $686,731.80. Following the transaction, the director now directly owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Julian Henry acquired 1,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $71.03 per share, for a total transaction of $71,030.00. The disclosure for this purchase can be found here. Corporate insiders own 19.40% of the company’s stock.
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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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