Multi-Color Sets New 12-Month High After Insider Buying Activity (LABL)
Multi-Color (NASDAQ:LABL) reached a new 52-week high on Friday following insider buying activity, American Banking News reports. The stock traded as high as $46.53 and last traded at $45.76, with a volume of 29,149 shares traded. The stock had previously closed at $45.01.
Specifically, Director Simon T. Roberts acquired 3,450 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was purchased at an average price of $44.27 per share, with a total value of $152,731.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
LABL has been the subject of a number of recent research reports. 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.
The stock’s 50-day moving average is $41. and its 200-day moving average is $36.65. The company has a market cap of $754.4 million and a P/E ratio of 21.42.
Multi-Color (NASDAQ:LABL) last released its earnings data on Monday, August 11th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Multi-Color will post $2.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. 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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