Vaughan Nelson Investment Management L.P. raised its position in shares of Multi-Color Corporation (NASDAQ:LABL) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 716,475 shares of the business services provider’s stock after acquiring an additional 9,025 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 4.20% of Multi-Color Corporation worth $58,715,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in LABL. BlackRock Inc. grew its position in shares of Multi-Color Corporation by 125,662.5% in the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock valued at $114,113,000 after purchasing an additional 1,605,967 shares in the last quarter. Vanguard Group Inc. grew its position in Multi-Color Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 715,059 shares of the business services provider’s stock worth $58,348,000 after acquiring an additional 25,470 shares during the period. State Street Corp grew its position in Multi-Color Corporation by 4.0% in the second quarter. State Street Corp now owns 327,791 shares of the business services provider’s stock worth $26,748,000 after acquiring an additional 12,528 shares during the period. Tributary Capital Management LLC grew its position in Multi-Color Corporation by 12.0% in the second quarter. Tributary Capital Management LLC now owns 264,577 shares of the business services provider’s stock worth $21,589,000 after acquiring an additional 28,449 shares during the period. Finally, AMI Asset Management Corp grew its position in Multi-Color Corporation by 20.0% in the second quarter. AMI Asset Management Corp now owns 161,258 shares of the business services provider’s stock worth $13,159,000 after acquiring an additional 26,849 shares during the period. 73.76% of the stock is owned by institutional investors and hedge funds.
In other Multi-Color Corporation news, Chairman Nigel A. Vinecombe sold 3,081 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $82.15, for a total transaction of $253,104.15. Following the transaction, the chairman now owns 54,309 shares of the company’s stock, valued at $4,461,484.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nigel A. Vinecombe sold 10,301 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $82.06, for a total value of $845,300.06. Following the transaction, the insider now directly owns 54,309 shares in the company, valued at approximately $4,456,596.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,846 shares of company stock worth $5,194,386. Corporate insiders own 19.40% of the company’s stock.
Several brokerages recently weighed in on LABL. Robert W. Baird reiterated a “hold” rating and issued a $80.00 price objective on shares of Multi-Color Corporation in a research report on Friday. Zacks Investment Research cut Multi-Color Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. KeyCorp restated a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a research note on Friday, August 25th. Finally, BMO Capital Markets restated a “hold” rating and set a $88.00 price target on shares of Multi-Color Corporation in a research note on Monday, September 25th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $82.75.
Shares of Multi-Color Corporation (NASDAQ:LABL) traded down $0.45 during midday trading on Friday, hitting $71.40. The stock had a trading volume of 50,300 shares, compared to its average volume of 73,437. The firm has a market capitalization of $1,468.66, a PE ratio of 19.96 and a beta of 0.78. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.38 and a current ratio of 1.96. Multi-Color Corporation has a twelve month low of $63.05 and a twelve month high of $88.25.
Multi-Color Corporation (NASDAQ:LABL) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.05). Multi-Color Corporation had a net margin of 6.10% and a return on equity of 15.52%. The business had revenue of $256.03 million during the quarter, compared to analyst estimates of $246.61 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. sell-side analysts expect that Multi-Color Corporation will post 3.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Tuesday, November 14th. Multi-Color Corporation’s dividend payout ratio is presently 5.90%.
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Multi-Color Corporation 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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