Multi-Color Co. (LABL) Holdings Increased by Comerica Bank

Comerica Bank boosted its position in Multi-Color Co. (NASDAQ:LABL) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,000 shares of the business services provider’s stock after acquiring an additional 692 shares during the period. Comerica Bank owned about 0.09% of Multi-Color worth $1,211,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Teachers Advisors LLC boosted its holdings in shares of Multi-Color by 6.3% in the 1st quarter. Teachers Advisors LLC now owns 23,509 shares of the business services provider’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Multi-Color by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 689,589 shares of the business services provider’s stock valued at $48,962,000 after purchasing an additional 18,668 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Multi-Color by 6.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 55,432 shares of the business services provider’s stock valued at $3,936,000 after purchasing an additional 3,530 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Multi-Color by 65.7% in the 1st quarter. Bank of America Corp DE now owns 24,704 shares of the business services provider’s stock valued at $1,754,000 after purchasing an additional 9,798 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Multi-Color by 8.4% in the 1st quarter. State Street Corp now owns 315,263 shares of the business services provider’s stock valued at $22,383,000 after purchasing an additional 24,447 shares during the last quarter. 66.62% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman Nigel A. Vinecombe sold 3,081 shares of Multi-Color 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nigel A. Vinecombe sold 10,301 shares of Multi-Color 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 sale, the insider now directly owns 54,309 shares in the company, valued at approximately $4,456,596.54. The disclosure for this sale can be found here. Insiders have sold a total of 38,846 shares of company stock worth $3,188,636 in the last ninety days. 19.40% of the stock is currently owned by insiders.

LABL has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Multi-Color from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. KeyCorp restated a “sell” rating and set a $67.00 target price on shares of Multi-Color in a report on Friday, August 25th. Robert W. Baird restated a “hold” rating on shares of Multi-Color in a report on Friday, September 1st. Finally, BMO Capital Markets restated a “hold” rating and set a $88.00 target price on shares of Multi-Color in a report on Monday, September 25th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $82.75.

Multi-Color Co. (LABL) opened at $74.10 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.48 and a debt-to-equity ratio of 1.13. The firm has a market cap of $1,514.65, a price-to-earnings ratio of 20.58 and a beta of 0.73. Multi-Color Co. has a 1-year low of $63.05 and a 1-year high of $88.25.

Multi-Color (NASDAQ:LABL) last posted its earnings results on Tuesday, November 7th. The business services provider reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.05). The business had revenue of $256.03 million for the quarter, compared to analyst estimates of $246.61 million. Multi-Color had a net margin of 6.10% and a return on equity of 15.52%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. research analysts forecast that Multi-Color Co. will post 3.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 14th. This represents a $0.20 annualized dividend and a dividend yield of 0.27%. Multi-Color’s payout ratio is 5.90%.

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

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