Massachusetts Financial Services Co. MA acquired a new position in Multi-Color Co. (NASDAQ:LABL) in the first quarter, Holdings Channel reports. The fund acquired 138,926 shares of the business services provider’s stock, valued at approximately $9,176,000.
Other large investors have also modified their holdings of the company. Eaton Vance Management raised its stake in Multi-Color by 6.0% in the fourth quarter. Eaton Vance Management now owns 300,105 shares of the business services provider’s stock worth $22,463,000 after buying an additional 16,981 shares in the last quarter. Standard Life Aberdeen plc raised its stake in Multi-Color by 5.5% in the fourth quarter. Standard Life Aberdeen plc now owns 756,522 shares of the business services provider’s stock worth $56,625,000 after buying an additional 39,251 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in Multi-Color by 16.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 24,093 shares of the business services provider’s stock worth $1,803,000 after buying an additional 3,325 shares in the last quarter. Renaissance Group LLC bought a new position in Multi-Color in the fourth quarter worth approximately $408,000. Finally, ArrowMark Colorado Holdings LLC raised its stake in Multi-Color by 17.5% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 2,232,241 shares of the business services provider’s stock worth $167,083,000 after buying an additional 332,879 shares in the last quarter. 67.95% of the stock is owned by institutional investors.
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NASDAQ LABL opened at $63.75 on Tuesday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.41 and a current ratio of 1.94. Multi-Color Co. has a 12-month low of $61.50 and a 12-month high of $89.70. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.66 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Monday, May 14th. Multi-Color’s dividend payout ratio is currently 5.54%.
In other news, Director Ari J. Benacerraf purchased 4,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $65.20 per share, with a total value of $260,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.40% of the stock is currently owned by insiders.
A number of equities analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Multi-Color from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Zacks Investment Research raised shares of Multi-Color from a “sell” rating to a “hold” rating in a research note on Wednesday, April 11th. BidaskClub downgraded shares of Multi-Color from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 21st. BMO Capital Markets reduced their price objective on shares of Multi-Color from $88.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Finally, ValuEngine downgraded shares of Multi-Color from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Three investment 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 stock presently has an average rating of “Hold” and a consensus price target of $77.40.
Multi-Color Profile
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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