Fisher Asset Management LLC cut its holdings in shares of Multi-Color Co. (NASDAQ:LABL) by 20.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,609 shares of the business services provider’s stock after selling 7,125 shares during the period. Fisher Asset Management LLC owned approximately 0.13% of Multi-Color worth $1,719,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. FMR LLC lifted its stake in Multi-Color by 13.6% during the second quarter. FMR LLC now owns 2,011,782 shares of the business services provider’s stock valued at $130,062,000 after purchasing an additional 240,099 shares during the last quarter. BlackRock Inc. lifted its stake in Multi-Color by 8.6% during the second quarter. BlackRock Inc. now owns 1,935,538 shares of the business services provider’s stock valued at $125,133,000 after purchasing an additional 153,887 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Multi-Color by 3.2% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,004,943 shares of the business services provider’s stock valued at $64,970,000 after purchasing an additional 31,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Multi-Color by 25.8% during the second quarter. Dimensional Fund Advisors LP now owns 933,600 shares of the business services provider’s stock valued at $60,358,000 after purchasing an additional 191,424 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its position in shares of Multi-Color by 17.0% in the 2nd quarter. Tributary Capital Management LLC now owns 322,324 shares of the business services provider’s stock valued at $20,838,000 after acquiring an additional 46,804 shares in the last quarter. 70.42% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on LABL. Zacks Investment Research upgraded shares of Multi-Color from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. KeyCorp restated a “hold” rating on shares of Multi-Color in a research report on Tuesday, August 7th. BidaskClub upgraded shares of Multi-Color from a “strong sell” rating to a “sell” rating in a research report on Friday. Finally, ValuEngine downgraded shares of Multi-Color from a “sell” rating to a “strong sell” rating in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $72.00.
Shares of NASDAQ:LABL opened at $56.04 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.97 and a quick ratio of 1.49. The company has a market capitalization of $1.09 billion, a P/E ratio of 14.90 and a beta of 0.67. Multi-Color Co. has a 52 week low of $50.52 and a 52 week high of $89.70.
Multi-Color (NASDAQ:LABL) last issued its quarterly earnings results on Tuesday, August 7th. The business services provider reported $1.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. The business had revenue of $456.13 million during the quarter, compared to the consensus estimate of $442.85 million. Multi-Color had a net margin of 5.02% and a return on equity of 11.70%. On average, research analysts expect that Multi-Color Co. will post 4.31 earnings per share for the current year.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $60.88, for a total value of $1,522,000.00. Following the completion of the sale, the insider now owns 62,190 shares in the company, valued at approximately $3,786,127.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 32.20% of the stock is currently owned by corporate insiders.
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
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