Multi-Color Corp. (LABL) Lowered to Underweight at KeyCorp
KeyCorp downgraded shares of Multi-Color Corp. (NASDAQ:LABL) from a sector weight rating to an underweight rating in a report published on Tuesday. The firm currently has $67.00 price target on the stock.
A number of other research firms also recently issued reports on LABL. Zacks Investment Research downgraded shares of Multi-Color Corp. from a hold rating to a sell rating in a research note on Wednesday, November 16th. Singular Research increased their price target on shares of Multi-Color Corp. from $67.00 to $70.00 and gave the stock a buy – long-term rating in a research note on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $67.00.
Multi-Color Corp. (NASDAQ:LABL) opened at 70.85 on Tuesday. The company has a market capitalization of $1.20 billion, a PE ratio of 24.01 and a beta of 0.92. The stock has a 50 day moving average price of $68.17 and a 200-day moving average price of $65.36. Multi-Color Corp. has a 52 week low of $40.15 and a 52 week high of $76.50.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm earned $232.10 million during the quarter, compared to the consensus estimate of $235.48 million. Multi-Color Corp. had a net margin of 5.55% and a return on equity of 16.38%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts predict that Multi-Color Corp. will post $3.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, November 10th. Multi-Color Corp.’s dividend payout ratio is 6.78%.
In other Multi-Color Corp. news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $72.85, for a total transaction of $1,821,250.00. Following the completion of the transaction, the insider now owns 13,145 shares of the company’s stock, valued at $957,613.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in LABL. BlackRock Inc. increased its position in shares of Multi-Color Corp. by 12.0% in the third quarter. BlackRock Inc. now owns 1,575 shares of the company’s stock worth $104,000 after buying an additional 169 shares in the last quarter. PineBridge Investments L.P. acquired a new position in shares of Multi-Color Corp. during the second quarter worth $106,000. Teacher Retirement System of Texas increased its position in shares of Multi-Color Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 1,881 shares of the company’s stock worth $119,000 after buying an additional 233 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Multi-Color Corp. during the second quarter worth $163,000. Finally, Sei Investments Co. increased its position in shares of Multi-Color Corp. by 3.9% in the third quarter. Sei Investments Co. now owns 2,676 shares of the company’s stock worth $176,000 after buying an additional 100 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.
About Multi-Color Corp.
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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