Eaton Vance Management lifted its position in shares of Multi-Color Co. (NASDAQ:LABL) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 300,105 shares of the business services provider’s stock after purchasing an additional 16,981 shares during the quarter. Eaton Vance Management’s holdings in Multi-Color were worth $22,463,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the company. Voya Investment Management LLC grew its holdings in shares of Multi-Color by 10.6% during the 2nd quarter. Voya Investment Management LLC now owns 6,680 shares of the business services provider’s stock worth $545,000 after purchasing an additional 642 shares in the last quarter. Comerica Bank grew its holdings in shares of Multi-Color by 4.8% during the 3rd quarter. Comerica Bank now owns 15,000 shares of the business services provider’s stock worth $1,211,000 after purchasing an additional 692 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Multi-Color by 4.9% during the 2nd quarter. New York State Common Retirement Fund now owns 15,000 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 699 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Multi-Color by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 26,565 shares of the business services provider’s stock worth $2,177,000 after purchasing an additional 767 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Multi-Color by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 25,053 shares of the business services provider’s stock worth $2,053,000 after purchasing an additional 877 shares in the last quarter. 63.63% of the stock is currently owned by institutional investors.
Shares of Multi-Color Co. (NASDAQ LABL) opened at $64.95 on Monday. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.94 and a quick ratio of 1.41. The company has a market capitalization of $1,327.76, a price-to-earnings ratio of 17.37 and a beta of 0.76. Multi-Color Co. has a one year low of $64.60 and a one year high of $89.70.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Wednesday, February 14th. Multi-Color’s dividend payout ratio is 5.35%.
In other Multi-Color news, COO Oliver Apel acquired 1,100 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average price of $66.68 per share, for a total transaction of $73,348.00. Following the transaction, the chief operating officer now owns 1,100 shares in the company, valued at approximately $73,348. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert R. Buck sold 9,530 shares of Multi-Color stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total value of $686,731.80. Following the completion of the transaction, the director now owns 17,441 shares of the company’s stock, valued at approximately $1,256,798.46. The disclosure for this sale can be found here. 19.40% of the stock is owned by insiders.
LABL has been the topic of several recent research reports. Zacks Investment Research lowered Multi-Color from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Robert W. Baird reissued a “hold” rating and set a $80.00 price objective on shares of Multi-Color in a report on Friday, November 10th. BidaskClub lowered Multi-Color from a “sell” rating to a “strong sell” rating in a report on Friday, December 15th. Finally, Hilliard Lyons raised Multi-Color from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Multi-Color currently has an average rating of “Hold” and an average target price of $76.75.
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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