Insider Buying: Multi-Color Director Acquires 3,450 Shares of Stock (LABL)
Multi-Color (NASDAQ:LABL) Director Simon T. Roberts acquired 3,450 shares of Multi-Color stock on the open market in a transaction dated Wednesday, August 20th. The stock was purchased at an average cost of $44.27 per share, with a total value of $152,731.50. Following the completion of the acquisition, the director now directly owns 2,400 shares in the company, valued at approximately $106,248. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of Multi-Color from $44.00 to $52.00 in a research note on Tuesday, August 12th. Analysts at Robert W. Baird raised their price target on shares of Multi-Color from $45.00 to $48.00 in a research note on Tuesday, August 12th.
Multi-Color (NASDAQ:LABL) traded up 1.83% during mid-day trading on Thursday, hitting $45.01. The stock had a trading volume of 77,001 shares. Multi-Color has a 52 week low of $30.75 and a 52 week high of $46.06. The stock has a 50-day moving average of $41.28 and a 200-day moving average of $36.59. The company has a market cap of $742.0 million and a P/E ratio of 21.04.
Multi-Color (NASDAQ:LABL) last announced its earnings results on Monday, August 11th. The company reported $0.81 EPS for the quarter, beating the analysts’ consensus estimate of $0.63 by $0.18. The company had revenue of $203.10 million for the quarter, compared to the consensus estimate of $198.10 million. Analysts expect that Multi-Color will post $2.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, August 13th.
Multi-Color Corporation (NASDAQ:LABL) 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.
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