Trading Report: The Virginia Retirement Systems ET AL Takes Position in Multi-Color Corp. (LABL)

The Virginia Retirement Systems ET AL Takes Position in Multi-Color Corp. (LABL)

Virginia Retirement Systems ET AL purchased a new stake in shares of Multi-Color Corp. (NASDAQ:LABL) during the second quarter, Holdings Channel reports. The fund purchased 6,100 shares of the company’s stock, valued at approximately $387,000.

Several other institutional investors have also recently modified their holdings of LABL. Vanguard Group Inc. boosted its position in shares of Multi-Color Corp. by 24.9% in the second quarter. Vanguard Group Inc. now owns 583,873 shares of the company’s stock valued at $37,017,000 after buying an additional 116,458 shares during the period. Aberdeen Asset Management PLC UK boosted its position in shares of Multi-Color Corp. by 19.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 440,883 shares of the company’s stock valued at $27,952,000 after buying an additional 70,685 shares during the period. RidgeWorth Capital Management LLC boosted its position in shares of Multi-Color Corp. by 27.7% in the second quarter. RidgeWorth Capital Management LLC now owns 296,949 shares of the company’s stock valued at $19,011,000 after buying an additional 64,349 shares during the period. Tributary Capital Management LLC boosted its position in shares of Multi-Color Corp. by 11.5% in the second quarter. Tributary Capital Management LLC now owns 164,238 shares of the company’s stock valued at $10,413,000 after buying an additional 16,980 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Multi-Color Corp. by 102.5% in the second quarter. Bank of New York Mellon Corp now owns 145,165 shares of the company’s stock valued at $9,204,000 after buying an additional 73,469 shares during the period. Institutional investors own 74.80% of the company’s stock.

Multi-Color Corp. (NASDAQ:LABL) opened at 64.82 on Friday. The firm has a market capitalization of $1.09 billion, a PE ratio of 21.90 and a beta of 1.02. The company has a 50 day moving average price of $66.80 and a 200-day moving average price of $62.08. Multi-Color Corp. has a one year low of $40.16 and a one year high of $79.05.

Multi-Color Corp. (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. Multi-Color Corp. had a net margin of 5.65% and a return on equity of 16.78%. The business earned $236.50 million during the quarter, compared to analysts’ expectations of $233.04 million. During the same quarter in the prior year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Multi-Color Corp. will post $3.61 EPS for the current year.

Several equities analysts have recently issued reports on LABL shares. Singular Research lifted their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the company a “buy – long-term” rating in a research report on Wednesday, August 17th. Zacks Investment Research upgraded Multi-Color Corp. from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.00.

In other Multi-Color Corp. news, CFO Sharon E. Birkett sold 5,000 shares of the stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $68.40, for a total transaction of $342,000.00. Following the completion of the transaction, the chief financial officer now owns 4,061 shares in the company, valued at approximately $277,772.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $65.68, for a total value of $1,642,000.00. Following the transaction, the insider now owns 13,145 shares of the company’s stock, valued at approximately $863,363.60. The disclosure for this sale can be found here. 20.20% of the stock is currently owned by corporate insiders.

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.

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