Multi-Color Corp. (NASDAQ:LABL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Multi-Color is one of the largest producers of printed labels for branded consumer products in the United States. Labels printed by the Company appear principally on mass-marketed products for which label appearance is a significant element of product marketing and merchandising. Multi-Color produces labels for a variety of consumer products including liquid detergents, fabric softeners, food products, liquid cleaners, anti-freeze and chewing gum. “
Separately, Singular Research lifted their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the stock a “buy – long-term” rating in a research note on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $67.00.
Multi-Color Corp. (NASDAQ:LABL) traded up 0.13% during midday trading on Wednesday, reaching $75.10. 30,790 shares of the company traded hands. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.45 and a beta of 0.92. Multi-Color Corp. has a 12 month low of $40.15 and a 12 month high of $76.50. The firm has a 50 day moving average of $67.53 and a 200-day moving average of $65.09.
Multi-Color Corp. (NASDAQ:LABL) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.02. The firm had revenue of $232.10 million for the quarter, compared to analysts’ expectations of $235.48 million. Multi-Color Corp. had a return on equity of 16.38% and a net margin of 5.55%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts forecast that Multi-Color Corp. will post $3.60 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.27%. Multi-Color Corp.’s payout ratio is presently 6.78%.
In other news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $72.85, for a total transaction of $1,821,250.00. Following the completion of the sale, the insider now directly owns 13,145 shares in the company, valued at approximately $957,613.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 20.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Multi-Color Corp. by 12.0% in the third quarter. BlackRock Inc. now owns 1,575 shares of the company’s stock valued at $104,000 after buying an additional 169 shares in the last quarter. PineBridge Investments L.P. bought a new stake in Multi-Color Corp. during the second quarter valued at $106,000. Teacher Retirement System of Texas raised its stake in Multi-Color Corp. by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 1,881 shares of the company’s stock valued at $119,000 after buying an additional 233 shares during the period. Mason Street Advisors LLC bought a new stake in Multi-Color Corp. during the second quarter valued at $163,000. Finally, Sei Investments Co. raised its stake in Multi-Color Corp. by 3.9% in the third quarter. Sei Investments Co. now owns 2,676 shares of the company’s stock valued at $176,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 76.20% of the company’s stock.
Multi-Color Corp. 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.