Allianz Asset Management AG reduced its stake in shares of Multi-Color Co. (NASDAQ:LABL) by 83.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,155 shares of the business services provider’s stock after selling 31,557 shares during the period. Allianz Asset Management AG’s holdings in Multi-Color were worth $478,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in LABL. Sei Investments Co. boosted its stake in shares of Multi-Color by 3.9% in the third quarter. Sei Investments Co. now owns 2,676 shares of the business services provider’s stock valued at $176,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Multi-Color by 2.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 2,910 shares of the business services provider’s stock valued at $192,000 after buying an additional 60 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Multi-Color during the third quarter valued at about $265,000. Great West Life Assurance Co. Can boosted its stake in shares of Multi-Color by 3.1% in the third quarter. Great West Life Assurance Co. Can now owns 18,657 shares of the business services provider’s stock valued at $1,230,000 after buying an additional 558 shares during the period. Finally, Comerica Bank boosted its stake in shares of Multi-Color by 2.0% in the fourth quarter. Comerica Bank now owns 26,532 shares of the business services provider’s stock valued at $2,107,000 after buying an additional 526 shares during the period. Institutional investors and hedge funds own 73.83% of the company’s stock.
Shares of Multi-Color Co. (NASDAQ:LABL) traded down 0.34% during mid-day trading on Friday, hitting $72.75. The company had a trading volume of 79,004 shares. Multi-Color Co. has a 52-week low of $54.80 and a 52-week high of $81.20. The firm has a 50-day moving average price of $71.14 and a 200 day moving average price of $72.43. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 23.54 and a beta of 1.05.
Multi-Color (NASDAQ:LABL) last posted its quarterly earnings data on Wednesday, February 8th. The business services provider reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by $0.06. Multi-Color had a net margin of 5.80% and a return on equity of 16.09%. The company had revenue of $210.70 million for the quarter, compared to the consensus estimate of $218.50 million. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts expect that Multi-Color Co. will post $3.49 earnings per share for the current year.
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Several brokerages have weighed in on LABL. Zacks Investment Research raised Multi-Color from a “sell” rating to a “hold” rating in a research note on Tuesday, April 11th. Hilliard Lyons cut Multi-Color from a “buy” rating to a “neutral” rating in a research note on Thursday, January 26th. They noted that the move was a valuation call. BMO Capital Markets reissued a “hold” rating and set a $80.00 price objective on shares of Multi-Color in a research note on Wednesday, January 25th. KeyCorp restated a “sell” rating and set a $67.00 target price on shares of Multi-Color in a research report on Wednesday, February 8th. Finally, Robert W. Baird lowered Multi-Color from an “outperform” rating to a “neutral” rating and set a $80.00 target price for the company. in a research report on Wednesday, January 4th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Multi-Color currently has a consensus rating of “Hold” and an average price target of $74.50.
In other news, insider Nigel A. Vinecombe sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $75.55, for a total value of $1,888,750.00. Following the transaction, the insider now directly owns 13,145 shares in the company, valued at approximately $993,104.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 20.20% of the company’s stock.
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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