Legal & General Group Plc lifted its holdings in shares of Multi-Color Corporation (NASDAQ:LABL) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,176 shares of the business services provider’s stock after purchasing an additional 2,113 shares during the quarter. Legal & General Group Plc owned 0.14% of Multi-Color Corporation worth $1,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial For Lutherans raised its position in shares of Multi-Color Corporation by 5.8% during the first quarter. Thrivent Financial For Lutherans now owns 7,450 shares of the business services provider’s stock worth $529,000 after purchasing an additional 410 shares during the period. Fenimore Asset Management Inc. raised its position in shares of Multi-Color Corporation by 3.1% during the second quarter. Fenimore Asset Management Inc. now owns 107,189 shares of the business services provider’s stock worth $8,747,000 after purchasing an additional 3,205 shares during the period. Victory Capital Management Inc. raised its position in shares of Multi-Color Corporation by 100.6% during the first quarter. Victory Capital Management Inc. now owns 2,293 shares of the business services provider’s stock worth $163,000 after purchasing an additional 1,150 shares during the period. BlackRock Inc. raised its position in shares of Multi-Color Corporation by 125,662.5% during the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock worth $114,113,000 after purchasing an additional 1,605,967 shares during the period. Finally, Sei Investments Co. raised its position in shares of Multi-Color Corporation by 19.3% during the first quarter. Sei Investments Co. now owns 13,053 shares of the business services provider’s stock worth $926,000 after purchasing an additional 2,111 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Shares of Multi-Color Corporation (NASDAQ LABL) opened at 82.20 on Friday. Multi-Color Corporation has a 12 month low of $63.05 and a 12 month high of $88.25. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 23.69 and a beta of 0.83. The company has a 50-day moving average price of $79.21 and a 200-day moving average price of $78.07.

Multi-Color Corporation (NASDAQ:LABL) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, beating 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 company had revenue of $242.40 million for 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 firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts forecast that Multi-Color Corporation will post $3.98 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Multi-Color Corporation’s payout ratio is 5.76%.

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In related news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $80.23, for a total transaction of $2,005,750.00. Following the sale, the insider now owns 54,309 shares in the company, valued at approximately $4,357,211.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.40% of the stock is owned by corporate insiders.

A number of research firms have recently commented on LABL. Zacks Investment Research lowered Multi-Color Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, September 7th. Robert W. Baird reaffirmed a “hold” rating on shares of Multi-Color Corporation in a research report on Friday, September 1st. KeyCorp reaffirmed a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a research report on Friday, August 25th. Finally, BidaskClub lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Multi-Color Corporation has an average rating of “Hold” and an average 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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Institutional Ownership by Quarter for Multi-Color Corporation (NASDAQ:LABL)

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