Nationwide Fund Advisors Has $642,000 Stake in Multi-Color Corporation (LABL)

Nationwide Fund Advisors trimmed its holdings in shares of Multi-Color Corporation (NASDAQ:LABL) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,864 shares of the business services provider’s stock after selling 76 shares during the quarter. Nationwide Fund Advisors’ holdings in Multi-Color Corporation were worth $642,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Multi-Color Corporation by 125,662.5% during the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock worth $114,113,000 after acquiring an additional 1,605,967 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Multi-Color Corporation by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 707,450 shares of the business services provider’s stock worth $57,728,000 after acquiring an additional 12,825 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Multi-Color Corporation by 2.8% during the first quarter. Vanguard Group Inc. now owns 689,589 shares of the business services provider’s stock worth $48,962,000 after acquiring an additional 18,668 shares during the last quarter. State Street Corp increased its position in shares of Multi-Color Corporation by 8.4% during the first quarter. State Street Corp now owns 315,263 shares of the business services provider’s stock worth $22,383,000 after acquiring an additional 24,447 shares during the last quarter. Finally, Tributary Capital Management LLC increased its position in shares of Multi-Color Corporation by 12.0% during the second quarter. Tributary Capital Management LLC now owns 264,577 shares of the business services provider’s stock worth $21,589,000 after acquiring an additional 28,449 shares during the last quarter. 73.55% of the stock is currently owned by institutional investors and hedge funds.

Multi-Color Corporation (LABL) opened at 82.70 on Wednesday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 23.83 and a beta of 0.80. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25. The company has a 50-day moving average price of $82.36 and a 200-day moving average price of $80.55.

Multi-Color Corporation (NASDAQ:LABL) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.06. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $242.47 million. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, equities research analysts predict that Multi-Color Corporation will post $3.98 earnings per share for the current fiscal year.

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In other Multi-Color Corporation news, Chairman Nigel A. Vinecombe sold 3,081 shares of the business’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $82.15, for a total transaction of $253,104.15. Following the completion of the transaction, the chairman now owns 54,309 shares of the company’s stock, valued at approximately $4,461,484.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nigel A. Vinecombe sold 10,301 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $82.06, for a total transaction of $845,300.06. Following the transaction, the insider now directly owns 54,309 shares of the company’s stock, valued at approximately $4,456,596.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,846 shares of company stock valued at $5,194,386. Company insiders own 19.40% of the company’s stock.

A number of brokerages have recently issued reports on LABL. KeyCorp reaffirmed a “sell” rating and set a $67.00 target price on shares of Multi-Color Corporation in a research report on Friday, August 25th. Zacks Investment Research lowered Multi-Color Corporation from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $88.00 target price on shares of Multi-Color Corporation in a research report on Monday, September 25th. BidaskClub lowered Multi-Color Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $85.00 target price on shares of Multi-Color Corporation in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Multi-Color Corporation has a consensus rating of “Hold” and an average price target of $84.00.

Multi-Color Corporation 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.

Institutional Ownership by Quarter for Multi-Color Corporation (NASDAQ:LABL)

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