Arizona State Retirement System raised its holdings in shares of Multi-Color Co. (NASDAQ:LABL) by 224.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,363 shares of the business services provider’s stock after acquiring an additional 16,163 shares during the quarter. Arizona State Retirement System owned approximately 0.11% of Multi-Color worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of LABL. SG Americas Securities LLC purchased a new position in Multi-Color during the 3rd quarter valued at about $129,000. Zions Bancorporation purchased a new position in Multi-Color during the 3rd quarter valued at about $154,000. Magnetar Financial LLC purchased a new position in Multi-Color during the 3rd quarter valued at about $203,000. Crossmark Global Holdings Inc. purchased a new position in Multi-Color during the 3rd quarter valued at about $233,000. Finally, Teacher Retirement System of Texas purchased a new position in Multi-Color during the 4th quarter valued at about $367,000. Hedge funds and other institutional investors own 65.84% of the company’s stock.
Shares of Multi-Color Co. (NASDAQ LABL) opened at $68.90 on Tuesday. The company has a market cap of $1,423.84, a PE ratio of 18.42 and a beta of 0.93. Multi-Color Co. has a twelve month low of $61.90 and a twelve month high of $89.70. The company has a current ratio of 1.94, a quick ratio of 1.41 and a debt-to-equity ratio of 2.21.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were given a $0.05 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.29%. Multi-Color’s dividend payout ratio is presently 5.35%.
In related news, Director Ari J. Benacerraf bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $65.20 per share, with a total value of $260,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Oliver Apel bought 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $66.68 per share, for a total transaction of $73,348.00. Following the completion of the transaction, the chief operating officer now directly owns 1,100 shares of the company’s stock, valued at approximately $73,348. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by company insiders.
Several research firms have weighed in on LABL. TheStreet downgraded shares of Multi-Color from a “b-” rating to a “c+” rating in a report on Monday, March 5th. Sidoti upgraded shares of Multi-Color from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a report on Monday, March 5th. BidaskClub downgraded shares of Multi-Color from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 21st. Zacks Investment Research downgraded shares of Multi-Color from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Finally, Robert W. Baird lowered their price target on shares of Multi-Color from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Multi-Color has a consensus rating of “Hold” and an average target price of $77.40.
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.
Want to see what other hedge funds are holding LABL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Multi-Color Co. (NASDAQ:LABL).
Receive News & Ratings for Multi-Color Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color and related companies with MarketBeat.com's FREE daily email newsletter.