BlueMountain Capital Management LLC acquired a new stake in Multi-Color Co. (NASDAQ:LABL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,582 shares of the business services provider’s stock, valued at approximately $1,072,000. BlueMountain Capital Management LLC owned about 0.08% of Multi-Color at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LABL. Crossmark Global Holdings Inc. bought a new stake in shares of Multi-Color during the 2nd quarter worth approximately $206,000. Piedmont Investment Advisors LLC bought a new stake in shares of Multi-Color during the 2nd quarter worth approximately $210,000. Quantbot Technologies LP bought a new stake in shares of Multi-Color during the 1st quarter worth approximately $215,000. Xact Kapitalforvaltning AB bought a new stake in shares of Multi-Color during the 1st quarter worth approximately $216,000. Finally, Citigroup Inc. lifted its stake in shares of Multi-Color by 2,044.9% during the 1st quarter. Citigroup Inc. now owns 3,346 shares of the business services provider’s stock worth $221,000 after acquiring an additional 3,190 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.
In other Multi-Color news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $60.88, for a total transaction of $1,522,000.00. Following the completion of the sale, the insider now directly owns 62,190 shares of the company’s stock, valued at approximately $3,786,127.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 32.20% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Multi-Color from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. KeyCorp reissued a “hold” rating on shares of Multi-Color in a research note on Tuesday, August 7th. ValuEngine lowered Multi-Color from a “sell” rating to a “strong sell” rating in a research note on Friday, July 20th. Finally, BidaskClub lowered Multi-Color from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Multi-Color currently has a consensus rating of “Hold” and an average target price of $72.00.
Shares of NASDAQ LABL opened at $63.20 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.97 and a quick ratio of 1.49. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 16.83 and a beta of 0.69. Multi-Color Co. has a twelve month low of $57.76 and a twelve month high of $89.70.
Multi-Color (NASDAQ:LABL) last issued its earnings results on Tuesday, August 7th. The business services provider reported $1.06 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.06. The business had revenue of $456.13 million during the quarter, compared to analyst estimates of $442.85 million. Multi-Color had a return on equity of 11.70% and a net margin of 5.02%. research analysts expect that Multi-Color Co. will post 4.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Wednesday, August 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Tuesday, August 14th. Multi-Color’s dividend payout ratio (DPR) is presently 5.32%.
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
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