The Manufacturers Life Insurance Company lessened its holdings in shares of Multi-Color Co. (NASDAQ:LABL) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 59,532 shares of the business services provider’s stock after selling 4,947 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Multi-Color were worth $4,456,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the business. Wells Fargo & Company MN boosted its position in Multi-Color by 34.5% during the fourth quarter. Wells Fargo & Company MN now owns 73,912 shares of the business services provider’s stock worth $5,533,000 after purchasing an additional 18,944 shares during the period. Fenimore Asset Management Inc. boosted its position in shares of Multi-Color by 1.0% in the fourth quarter. Fenimore Asset Management Inc. now owns 108,239 shares of the business services provider’s stock valued at $8,102,000 after acquiring an additional 1,050 shares during the period. Renaissance Group LLC bought a new position in shares of Multi-Color in the fourth quarter valued at approximately $408,000. Teacher Retirement System of Texas bought a new position in shares of Multi-Color in the fourth quarter valued at approximately $367,000. Finally, First National Bank of Omaha boosted its position in shares of Multi-Color by 16.4% in the fourth quarter. First National Bank of Omaha now owns 54,901 shares of the business services provider’s stock valued at $4,110,000 after acquiring an additional 7,723 shares during the period. Hedge funds and other institutional investors own 65.84% of the company’s stock.
A number of equities analysts have recently commented on LABL shares. BidaskClub lowered shares of Multi-Color from a “sell” rating to a “strong sell” rating in a research report on Wednesday, February 21st. Hilliard Lyons upgraded shares of Multi-Color from a “neutral” rating to a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Multi-Color from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, TheStreet lowered shares of Multi-Color from a “b-” rating to a “c+” rating in a research report on Monday, March 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $77.40.
Multi-Color (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, February 6th. The business services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.01). The firm had revenue of $352.70 million during the quarter, compared to the consensus estimate of $346.37 million. Multi-Color had a net margin of 6.08% and a return on equity of 13.02%. Multi-Color’s revenue was up 67.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. analysts predict that Multi-Color Co. will post 3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, February 14th. Multi-Color’s dividend payout ratio is currently 5.35%.
In related news, Director Ari J. Benacerraf bought 4,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $65.20 per share, with a total value of $260,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert R. Buck sold 9,530 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $72.06, for a total transaction of $686,731.80. Following the completion of the sale, the director now directly owns 17,441 shares in the company, valued at $1,256,798.46. The disclosure for this sale can be found here. Company insiders own 19.40% of the company’s stock.
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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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