Multi-Color Corp. (LABL) Trading Down 1.9%
Multi-Color Corp. (NASDAQ:LABL)’s share price was down 1.9% on Thursday . The stock traded as low as $66.43 and last traded at $67.15, with a volume of 71,900 shares changing hands. The stock had previously closed at $68.47.
Several equities analysts have weighed in on LABL shares. Zacks Investment Research raised Multi-Color Corp. from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, June 1st. Hilliard Lyons reissued a “long-term buy” rating and issued a $73.00 target price (up previously from $67.00) on shares of Multi-Color Corp. in a research note on Friday, April 29th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Multi-Color Corp. presently has a consensus rating of “Buy” and a consensus price target of $65.00.
The company has a 50 day moving average price of $64.32 and a 200-day moving average price of $57.79. The firm has a market cap of $1.12 billion and a P/E ratio of 23.62.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.07. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm had revenue of $236.50 million for the quarter, compared to the consensus estimate of $233.04 million. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Multi-Color Corp. will post $3.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%.
In related news, Chairman Nigel A. Vinecombe sold 25,000 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $63.20, for a total transaction of $1,580,000.00. Following the sale, the chairman now owns 13,145 shares in the company, valued at approximately $830,764. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Floyd E. Needham sold 7,500 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $63.31, for a total value of $474,825.00. Following the sale, the chief operating officer now owns 3,452 shares in the company, valued at approximately $218,546.12. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Fiduciary Management Associates LLC raised its stake in shares of Multi-Color Corp. by 143.8% in the fourth quarter. Fiduciary Management Associates LLC now owns 295,405 shares of the company’s stock worth $17,669,000 after buying an additional 174,235 shares in the last quarter. Eaton Vance Management purchased a new stake in shares of Multi-Color Corp. during the fourth quarter worth $5,765,000. Wells Fargo & Company MN raised its stake in shares of Multi-Color Corp. by 37.1% in the fourth quarter. Wells Fargo & Company MN now owns 246,159 shares of the company’s stock worth $14,723,000 after buying an additional 66,627 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Multi-Color Corp. during the fourth quarter worth $2,837,000. Finally, California State Teachers Retirement System raised its stake in shares of Multi-Color Corp. by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 23,351 shares of the company’s stock worth $1,397,000 after buying an additional 300 shares in the last quarter.
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 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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