Northern Trust Corp lowered its position in Multi-Color Co. (NASDAQ:LABL) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,462 shares of the business services provider’s stock after selling 4,336 shares during the period. Northern Trust Corp owned about 0.85% of Multi-Color worth $11,279,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of LABL. Xact Kapitalforvaltning AB bought a new position in Multi-Color during the first quarter valued at about $216,000. Principal Financial Group Inc. grew its position in Multi-Color by 2.4% during the first quarter. Principal Financial Group Inc. now owns 106,538 shares of the business services provider’s stock valued at $7,037,000 after buying an additional 2,524 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Multi-Color during the second quarter valued at about $427,000. Tributary Capital Management LLC grew its position in Multi-Color by 17.0% during the second quarter. Tributary Capital Management LLC now owns 322,324 shares of the business services provider’s stock valued at $20,838,000 after buying an additional 46,804 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in Multi-Color by 3.2% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,004,943 shares of the business services provider’s stock valued at $64,970,000 after buying an additional 31,000 shares during the period. Institutional investors own 71.18% of the company’s stock.
LABL opened at $45.50 on Friday. The stock has a market cap of $972.98 million, a P/E ratio of 12.10 and a beta of 0.84. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.84 and a quick ratio of 1.49. Multi-Color Co. has a fifty-two week low of $44.87 and a fifty-two week high of $89.70.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.20 dividend on an annualized basis and a yield of 0.44%. Multi-Color’s dividend payout ratio is presently 5.32%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Multi-Color from a “hold” rating to a “sell” rating in a research report on Saturday. BidaskClub lowered shares of Multi-Color from a “sell” rating to a “strong sell” rating in a research report on Saturday. ValuEngine lowered shares of Multi-Color from a “sell” rating to a “strong sell” rating in a research report on Friday, August 17th. Finally, KeyCorp lowered shares of Multi-Color from a “sector weight” rating to an “underweight” rating and set a $57.00 price target for the company. in a research report on Wednesday, August 15th. Four research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.60.
In other Multi-Color news, insider Nigel A. Vinecombe sold 25,000 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $60.88, for a total transaction of $1,522,000.00. Following the completion of the transaction, the insider now owns 62,190 shares in the company, valued at $3,786,127.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.20% of the stock is owned by company insiders.
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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