Multi-Color (LABL) Reaches New 12-Month Low at $59.88

Multi-Color Co. (NASDAQ:LABL)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $59.88 and last traded at $60.00, with a volume of 9416 shares traded. The stock had previously closed at $62.40.

Several brokerages have recently commented on LABL. KeyCorp cut shares of Multi-Color from a “sector weight” rating to an “underweight” rating in a research report on Wednesday. ValuEngine raised shares of Multi-Color from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. BidaskClub raised shares of Multi-Color from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Multi-Color from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Multi-Color currently has a consensus rating of “Hold” and a consensus price target of $74.00.

The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 15.73 and a beta of 0.81. The company has a current ratio of 1.97, a quick ratio of 1.49 and a debt-to-equity ratio of 2.21.

Multi-Color (NASDAQ:LABL) last released its quarterly earnings data on Tuesday, August 7th. The business services provider reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The firm had revenue of $456.13 million for the quarter, compared to analyst estimates of $442.85 million. Multi-Color had a net margin of 5.02% and a return on equity of 11.70%. research analysts expect that Multi-Color Co. will post 4.31 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Wednesday, August 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, August 14th. This represents a $0.20 annualized dividend and a yield of 0.34%. Multi-Color’s dividend payout ratio (DPR) is 5.32%.

In related news, CFO Sharon E. Birkett sold 13,500 shares of the stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $68.90, for a total transaction of $930,150.00. Following the sale, the chief financial officer now owns 13,236 shares in the company, valued at $911,960.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nigel A. Vinecombe sold 32,419 shares of the stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $70.01, for a total transaction of $2,269,654.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,500 shares of company stock worth $4,430,474. 32.20% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its stake in Multi-Color by 9,037.7% during the second quarter. Advisors Asset Management Inc. now owns 272,302 shares of the business services provider’s stock worth $182,000 after acquiring an additional 269,322 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Multi-Color during the second quarter worth about $612,000. King Luther Capital Management Corp acquired a new stake in Multi-Color during the second quarter worth about $995,000. Laurion Capital Management LP acquired a new stake in shares of Multi-Color in the second quarter valued at approximately $207,000. Finally, OppenheimerFunds Inc. increased its stake in shares of Multi-Color by 18.6% in the second quarter. OppenheimerFunds Inc. now owns 11,543 shares of the business services provider’s stock valued at $746,000 after purchasing an additional 1,814 shares during the period. Hedge funds and other institutional investors own 70.02% of the company’s stock.

About Multi-Color (NASDAQ:LABL)

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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