Suntrust Banks Inc. Sells 75 Shares of Multi-Color Corporation (LABL)
Suntrust Banks Inc. reduced its stake in shares of Multi-Color Corporation (NASDAQ:LABL) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 18,010 shares of the company’s stock after selling 75 shares during the period. Suntrust Banks Inc. owned about 0.11% of Multi-Color Corporation worth $1,187,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of LABL. BlackRock Inc. boosted its position in Multi-Color Corporation by 12.0% in the third quarter. BlackRock Inc. now owns 1,575 shares of the company’s stock valued at $104,000 after buying an additional 169 shares during the last quarter. PineBridge Investments L.P. acquired a new position in Multi-Color Corporation during the second quarter valued at about $106,000. Teacher Retirement System of Texas boosted its position in Multi-Color Corporation by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 1,881 shares of the company’s stock valued at $119,000 after buying an additional 233 shares during the last quarter. Mason Street Advisors LLC acquired a new position in Multi-Color Corporation during the second quarter valued at about $163,000. Finally, Sei Investments Co. boosted its position in Multi-Color Corporation by 3.9% in the third quarter. Sei Investments Co. now owns 2,676 shares of the company’s stock valued at $176,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.77% of the company’s stock.
Multi-Color Corporation (NASDAQ:LABL) traded up 0.70% during midday trading on Friday, hitting $79.40. The company had a trading volume of 48,033 shares. Multi-Color Corporation has a 12-month low of $40.15 and a 12-month high of $79.80. The company’s 50 day moving average is $75.96 and its 200 day moving average is $68.20. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 26.91 and a beta of 0.95.
Multi-Color Corporation (NASDAQ:LABL) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. Multi-Color Corporation had a net margin of 5.55% and a return on equity of 16.38%. The business had revenue of $232.10 million for the quarter, compared to analysts’ expectations of $235.48 million. The business’s revenue was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Multi-Color Corporation will post $3.61 EPS for the current fiscal year.
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Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Multi-Color Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird cut Multi-Color Corporation from an “outperform” rating to a “neutral” rating and set a $80.00 target price on the stock. in a research report on Wednesday, January 4th. Finally, KeyCorp cut Multi-Color Corporation from a “sector weight” rating to an “underweight” rating and set a $67.00 target price on the stock. in a research report on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $70.33.
In other Multi-Color Corporation news, Director Thomas M. Mohr sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $72.68, for a total value of $109,020.00. Following the transaction, the director now owns 11,519 shares of the company’s stock, valued at $837,200.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The stock was 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 directly owns 13,145 shares in the company, valued at approximately $957,613.25. The disclosure for this sale can be found here. Insiders own 20.20% of the company’s stock.
Multi-Color Corporation Company 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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