Multi-Color Corporation (LABL) Shares Bought by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA increased its position in Multi-Color Corporation (NASDAQ:LABL) by 59.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,931 shares of the business services provider’s stock after acquiring an additional 1,465 shares during the period. BNP Paribas Arbitrage SA’s holdings in Multi-Color Corporation were worth $321,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE grew its holdings in shares of Multi-Color Corporation by 88.7% in the first quarter. US Bancorp DE now owns 1,838 shares of the business services provider’s stock worth $130,000 after acquiring an additional 864 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Multi-Color Corporation by 100.6% in the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock worth $163,000 after acquiring an additional 1,150 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Multi-Color Corporation by 79.0% in the second quarter. State of Alaska Department of Revenue now owns 2,613 shares of the business services provider’s stock worth $213,000 after acquiring an additional 1,153 shares during the period. Mason Street Advisors LLC grew its holdings in shares of Multi-Color Corporation by 7.1% in the first quarter. Mason Street Advisors LLC now owns 3,091 shares of the business services provider’s stock worth $219,000 after acquiring an additional 205 shares during the period. Finally, Atria Investments LLC grew its holdings in shares of Multi-Color Corporation by 0.8% in the second quarter. Atria Investments LLC now owns 2,968 shares of the business services provider’s stock worth $242,000 after acquiring an additional 24 shares during the period. 73.33% of the stock is owned by institutional investors.
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In related news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $80.23, for a total value of $2,005,750.00. Following the completion of the transaction, the insider now owns 54,309 shares in the company, valued at approximately $4,357,211.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.
Shares of Multi-Color Corporation (LABL) opened at 80.55 on Tuesday. Multi-Color Corporation has a 12-month low of $63.05 and a 12-month high of $88.25. The firm’s 50-day moving average price is $79.22 and its 200 day moving average price is $78.02. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 23.21 and a beta of 0.83.
Multi-Color Corporation (NASDAQ:LABL) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. The company had revenue of $242.40 million during the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. On average, analysts predict that Multi-Color Corporation will post $3.98 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.05 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Multi-Color Corporation’s dividend payout ratio (DPR) is 5.76%.
Several brokerages recently commented on LABL. BidaskClub lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Zacks Investment Research raised Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Friday, June 2nd. KeyCorp reaffirmed a “sell” rating and issued a $67.00 price objective on shares of Multi-Color Corporation in a report on Friday, August 25th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Multi-Color Corporation has a consensus rating of “Hold” and a consensus target price of $79.00.
Multi-Color Corporation 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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