BidaskClub lowered shares of Multi-Color (NASDAQ:LABL) from a sell rating to a strong sell rating in a research note published on Monday morning.
A number of other research firms have also recently issued reports on LABL. Zacks Investment Research upgraded Multi-Color from a sell rating to a hold rating in a report on Wednesday, April 11th. ValuEngine cut Multi-Color from a hold rating to a sell rating in a report on Wednesday, May 2nd. TheStreet cut Multi-Color from a b- rating to a c+ rating in a report on Monday, March 5th. Sidoti upgraded Multi-Color from a neutral rating to a buy rating and set a $80.00 price objective for the company in a report on Monday, March 5th. Finally, BMO Capital Markets cut their price objective on Multi-Color from $88.00 to $75.00 and set a market perform rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $77.40.
Multi-Color opened at $63.75 on Monday, according to MarketBeat Ratings. Multi-Color has a 12-month low of $63.50 and a 12-month high of $64.70. 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 stock has a market capitalization of $1.31 billion, a PE ratio of 17.66 and a beta of 0.88.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date is Monday, May 14th. Multi-Color’s dividend payout ratio is presently 5.54%.
In related news, COO Oliver Apel bought 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $66.68 per share, for a total transaction of $73,348.00. Following the acquisition, the chief operating officer now directly owns 1,100 shares of the company’s stock, valued at approximately $73,348. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ari J. Benacerraf bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average price of $65.20 per share, with a total value of $260,800.00. The disclosure for this purchase can be found here. Corporate insiders own 19.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of LABL. ArrowMark Colorado Holdings LLC boosted its holdings in Multi-Color by 17.5% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 2,232,241 shares of the business services provider’s stock valued at $167,083,000 after acquiring an additional 332,879 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Multi-Color during the 1st quarter valued at about $17,830,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Multi-Color by 27.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 973,943 shares of the business services provider’s stock valued at $64,329,000 after acquiring an additional 210,418 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Multi-Color during the 1st quarter valued at about $9,176,000. Finally, BlackRock Inc. boosted its holdings in Multi-Color by 3.5% during the 4th quarter. BlackRock Inc. now owns 1,744,331 shares of the business services provider’s stock valued at $130,564,000 after acquiring an additional 59,705 shares during the period. Institutional investors own 67.32% of the company’s stock.
Multi-Color Corporation provides various label solutions. The company offers pressure sensitive labels; in-mold labels; heat transfer labels; shrink sleeve labels; cut and stack glue-applied labels comprising peel-away promotional labels, thermochromics, holographics, and metalized films; and promotional products, such as scratch-off coupons, static-clings, and tags.
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