Multi-Color Corporation Plans Quarterly Dividend of $0.05 (LABL)
Multi-Color Corporation (NASDAQ:LABL) declared a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.05 per share by the business services provider on Friday, December 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Tuesday, November 14th.
Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $242.47 million. During the same period in the previous year, the company posted $0.95 earnings per share. Multi-Color Corporation’s revenue for the quarter was up 2.5% on a year-over-year basis.
In related news, Chairman Nigel A. Vinecombe sold 3,081 shares of Multi-Color Corporation stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $82.15, for a total value of $253,104.15. Following the sale, the chairman now directly owns 54,309 shares in the company, valued at $4,461,484.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corporation stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $80.23, for a total value of $2,005,750.00. Following the completion of the sale, the insider now owns 54,309 shares in the company, valued at $4,357,211.07. The disclosure for this sale can be found here. Insiders sold a total of 63,846 shares of company stock worth $5,194,386 over the last quarter. Company insiders own 19.40% of the company’s stock.
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Several research firms recently commented on LABL. Zacks Investment Research downgraded Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BMO Capital Markets reiterated a “hold” rating and set a $88.00 price target on shares of Multi-Color Corporation in a report on Wednesday, October 25th. Robert W. Baird restated a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. KeyCorp restated a “sell” rating and set a $67.00 target price on shares of Multi-Color Corporation in a report on Friday, August 25th. Finally, BidaskClub cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a 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. The stock presently has a consensus rating of “Hold” and an average target price of $84.00.
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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