Metropolitan Life Insurance Co. NY continued to hold its stake in shares of Multi-Color Corporation (NASDAQ:LABL) during the first quarter, Holdings Channel reports. The firm owned 8,986 shares of the business services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Multi-Color Corporation were worth $638,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LABL. State Street Corp raised its stake in shares of Multi-Color Corporation by 8.4% in the first quarter. State Street Corp now owns 315,263 shares of the business services provider’s stock worth $22,383,000 after buying an additional 24,447 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Multi-Color Corporation by 65.7% in the first quarter. Bank of America Corp DE now owns 24,704 shares of the business services provider’s stock worth $1,754,000 after buying an additional 9,798 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Multi-Color Corporation by 6.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 55,432 shares of the business services provider’s stock worth $3,936,000 after buying an additional 3,530 shares during the last quarter. BlackRock Inc. raised its stake in shares of Multi-Color Corporation by 125,662.5% in the first quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock worth $114,113,000 after buying an additional 1,605,967 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Multi-Color Corporation during the first quarter worth about $267,000. Institutional investors and hedge funds own 77.01% of the company’s stock.

Multi-Color Corporation (NASDAQ:LABL) traded down 0.50% on Monday, hitting $80.25. 5,409 shares of the company’s stock traded hands. Multi-Color Corporation has a one year low of $62.90 and a one year high of $88.25. The stock has a 50-day moving average of $81.86 and a 200-day moving average of $77.15. The stock has a market cap of $1.36 billion, a PE ratio of 22.42 and a beta of 0.83.

Multi-Color Corporation (NASDAQ:LABL) last released its earnings results on Tuesday, May 30th. The business services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The business had revenue of $244 million during the quarter, compared to analysts’ expectations of $235.95 million. Multi-Color Corporation had a net margin of 6.61% and a return on equity of 16.99%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, equities analysts forecast that Multi-Color Corporation will post $3.93 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, August 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. Multi-Color Corporation’s dividend payout ratio is currently 5.59%.

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A number of equities research analysts have issued reports on the company. Zacks Investment Research lowered Multi-Color Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.60.

In other news, Director Charles B. Connolly sold 8,700 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.06, for a total transaction of $740,022.00. Following the completion of the sale, the director now owns 3,470 shares of the company’s stock, valued at $295,158.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sharon E. Birkett sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $86.20, for a total transaction of $431,000.00. Following the sale, the chief financial officer now directly owns 6,342 shares of the company’s stock, valued at approximately $546,680.40. The disclosure for this sale can be found here. Insiders have sold 38,700 shares of company stock valued at $3,330,772 in the last three months. Corporate insiders own 19.40% of the company’s stock.

About Multi-Color Corporation

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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Institutional Ownership by Quarter for Multi-Color Corporation (NASDAQ:LABL)

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