Thrivent Financial for Lutherans boosted its stake in Multi-Color Co. (NASDAQ:LABL) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,964 shares of the business services provider’s stock after purchasing an additional 219 shares during the period. Thrivent Financial for Lutherans’ holdings in Multi-Color were worth $350,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of LABL. Sagard Capital Partners Management Corp grew its position in Multi-Color by 22.5% during the fourth quarter. Sagard Capital Partners Management Corp now owns 98,086 shares of the business services provider’s stock worth $3,442,000 after buying an additional 18,011 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in Multi-Color during the fourth quarter worth about $141,000. Metropolitan Life Insurance Co. NY grew its position in Multi-Color by 358.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,414 shares of the business services provider’s stock worth $155,000 after buying an additional 3,451 shares during the period. Principal Financial Group Inc. grew its position in Multi-Color by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 113,267 shares of the business services provider’s stock worth $3,975,000 after buying an additional 728 shares during the period. Finally, Geode Capital Management LLC grew its position in Multi-Color by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 163,488 shares of the business services provider’s stock worth $5,736,000 after buying an additional 7,763 shares during the period. Hedge funds and other institutional investors own 69.28% of the company’s stock.
Shares of LABL opened at $49.88 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 2.10. The company has a market cap of $1.02 billion, a P/E ratio of 13.27 and a beta of 1.37. Multi-Color Co. has a 1 year low of $29.95 and a 1 year high of $71.94.
Several research analysts have weighed in on LABL shares. BidaskClub upgraded shares of Multi-Color from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Robert W. Baird lowered shares of Multi-Color from an “outperform” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research report on Wednesday, February 27th. Zacks Investment Research lowered shares of Multi-Color from a “hold” rating to a “strong sell” rating in a research report on Friday, February 15th. KeyCorp upgraded shares of Multi-Color from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, February 12th. Finally, BMO Capital Markets lowered their price target on shares of Multi-Color to $46.00 and set a “market perform” rating on the stock in a research report on Thursday, February 14th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Multi-Color currently has a consensus rating of “Hold” and a consensus price target of $57.75.
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Multi-Color Company Profile
Multi-Color Corporation provides various label solutions in the United States, Australia, Germany, and internationally. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; cut and stack labels, such as peel-away promotional labels, thermochromics, holographics, and metalized films, as well as scratch-off coupons and static-clings; and roll fed labels.
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