Fenimore Asset Management Inc. boosted its position in shares of Multi-Color Corp. (NASDAQ:LABL) by 0.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 103,759 shares of the company’s stock after buying an additional 150 shares during the period. Fenimore Asset Management Inc.’s holdings in Multi-Color Corp. were worth $6,848,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LABL. Park National Corp OH purchased a new stake in Multi-Color Corp. during the third quarter worth about $2,970,000. Mason Street Advisors LLC bought a new stake in shares of Multi-Color Corp. during the second quarter worth $163,000. Royal Bank of Canada boosted its stake in shares of Multi-Color Corp. by 30,807.3% in the second quarter. Royal Bank of Canada now owns 427,448 shares of the company’s stock worth $27,100,000 after buying an additional 426,065 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Multi-Color Corp. by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 47,353 shares of the company’s stock worth $3,003,000 after buying an additional 720 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Multi-Color Corp. by 4.6% in the second quarter. Stifel Financial Corp now owns 72,181 shares of the company’s stock worth $4,577,000 after buying an additional 3,156 shares during the period. Institutional investors and hedge funds own 75.06% of the company’s stock.
Multi-Color Corp. (NASDAQ:LABL) opened at 65.67 on Thursday. Multi-Color Corp. has a 1-year low of $40.16 and a 1-year high of $79.05. The firm has a 50-day moving average price of $66.79 and a 200-day moving average price of $62.39. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 22.19 and a beta of 1.02.
Multi-Color Corp. (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. Multi-Color Corp. had a return on equity of 16.78% and a net margin of 5.65%. The company earned $236.50 million during the quarter, compared to analysts’ expectations of $233.04 million. During the same period last year, the firm posted $0.91 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, analysts expect that Multi-Color Corp. will post $3.61 earnings per share for the current fiscal year.
A number of analysts have weighed in on the company. Zacks Investment Research cut Multi-Color Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Singular Research upped their price target on Multi-Color Corp. from $67.00 to $70.00 and gave the company a “buy – long-term” rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $67.00.
In related news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corp. stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $65.68, for a total transaction of $1,642,000.00. Following the completion of the sale, the insider now directly owns 13,145 shares of the company’s stock, valued at approximately $863,363.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sharon E. Birkett sold 5,000 shares of Multi-Color Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $68.40, for a total value of $342,000.00. Following the sale, the chief financial officer now directly owns 4,061 shares of the company’s stock, valued at $277,772.40. The disclosure for this sale can be found here. 20.20% of the stock is owned by insiders.
About Multi-Color Corp.
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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