Vanguard Group Inc. raised its position in Multi-Color Corporation (NASDAQ:LABL) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 689,589 shares of the business services provider’s stock after buying an additional 18,668 shares during the period. Vanguard Group Inc.’s holdings in Multi-Color Corporation were worth $48,962,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Multi-Color Corporation by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock worth $103,000 after buying an additional 40 shares during the period. Blair William & Co. IL boosted its stake in shares of Multi-Color Corporation by 2.2% in the first quarter. Blair William & Co. IL now owns 4,651 shares of the business services provider’s stock worth $333,000 after buying an additional 98 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Multi-Color Corporation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the business services provider’s stock worth $383,000 after buying an additional 100 shares during the period. Arizona State Retirement System boosted its stake in shares of Multi-Color Corporation by 1.5% in the first quarter. Arizona State Retirement System now owns 6,900 shares of the business services provider’s stock worth $490,000 after buying an additional 100 shares during the period. Finally, Atria Investments LLC boosted its stake in shares of Multi-Color Corporation by 4.2% in the first quarter. Atria Investments LLC now owns 2,944 shares of the business services provider’s stock worth $209,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 77.01% of the company’s stock.

Shares of Multi-Color Corporation (NASDAQ LABL) traded up 1.19% during midday trading on Friday, reaching $76.25. The company’s stock had a trading volume of 1,446 shares. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 21.97 and a beta of 0.83. The stock has a 50-day moving average price of $80.61 and a 200-day moving average price of $77.20. Multi-Color Corporation has a 52-week low of $63.05 and a 52-week high of $88.25.

Multi-Color Corporation (NASDAQ:LABL) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $242.47 million. During the same quarter in the prior year, the company earned $0.95 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Multi-Color Corporation will post $3.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, August 11th. Multi-Color Corporation’s dividend payout ratio is currently 5.76%.

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A number of brokerages have commented on LABL. Zacks Investment Research cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Multi-Color Corporation currently has an average rating of “Hold” and an average price target of $78.60.

In other news, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $86.39, for a total value of $2,159,750.00. Following the completion of the transaction, the insider now owns 14,309 shares of the company’s stock, valued at approximately $1,236,154.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles B. Connolly sold 8,700 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $85.06, for a total value of $740,022.00. Following the completion of the transaction, the director now directly owns 3,470 shares of the company’s stock, valued at approximately $295,158.20. The disclosure for this sale can be found here. Insiders sold a total of 38,700 shares of company stock valued at $3,330,772 in the last three months. Corporate insiders own 19.40% 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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Institutional Ownership by Quarter for Multi-Color Corporation (NASDAQ:LABL)

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