First Trust Advisors LP boosted its stake in shares of Multi-Color Co. (NASDAQ:LABL) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,471 shares of the business services provider’s stock after buying an additional 7,554 shares during the period. First Trust Advisors LP’s holdings in Multi-Color were worth $3,583,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in LABL. Great West Life Assurance Co. Can raised its position in Multi-Color by 3.1% in the first quarter. Great West Life Assurance Co. Can now owns 18,006 shares of the business services provider’s stock valued at $1,277,000 after buying an additional 549 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new position in Multi-Color during the first quarter valued at about $257,000. Independent Portfolio Consultants Inc. raised its position in Multi-Color by 4.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 14,360 shares of the business services provider’s stock valued at $1,020,000 after buying an additional 570 shares during the last quarter. Fisher Asset Management LLC raised its position in Multi-Color by 55.3% in the first quarter. Fisher Asset Management LLC now owns 31,226 shares of the business services provider’s stock valued at $2,217,000 after buying an additional 11,122 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Multi-Color by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 1,460 shares of the business services provider’s stock valued at $103,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 73.83% of the company’s stock.
Shares of Multi-Color Co. (NASDAQ LABL) opened at 86.45 on Tuesday. The company has a market capitalization of $1.46 billion, a P/E ratio of 24.15 and a beta of 1.05. The firm has a 50-day moving average of $78.10 and a 200 day moving average of $75.39. Multi-Color Co. has a 1-year low of $59.34 and a 1-year high of $88.25.
Multi-Color (NASDAQ:LABL) last posted its earnings results on Tuesday, May 30th. The business services provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Multi-Color had a net margin of 6.85% and a return on equity of 18.40%. The firm had revenue of $244 million during the quarter, compared to analysts’ expectations of $235.95 million. During the same period last year, the company posted $0.70 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Multi-Color Co. will post $3.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 15th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. Multi-Color’s dividend payout ratio is 6.47%. Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Multi-Color from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a report on Friday. KeyCorp restated a “sell” rating and issued a $67.00 target price on shares of Multi-Color in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $78.60.
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