Comerica Bank cut its position in shares of Multi-Color Corporation (NASDAQ:LABL) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,308 shares of the business services provider’s stock after selling 690 shares during the quarter. Comerica Bank owned 0.08% of Multi-Color Corporation worth $1,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in Multi-Color Corporation by 9.6% during the second quarter. Legal & General Group Plc now owns 24,176 shares of the business services provider’s stock worth $1,974,000 after purchasing an additional 2,113 shares during the last quarter. Rhumbline Advisers lifted its stake in Multi-Color Corporation by 0.8% during the second quarter. Rhumbline Advisers now owns 25,798 shares of the business services provider’s stock worth $2,105,000 after purchasing an additional 217 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Multi-Color Corporation by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 58,364 shares of the business services provider’s stock valued at $4,763,000 after buying an additional 2,932 shares during the last quarter. Pictet Asset Management Ltd. lifted its stake in Multi-Color Corporation by 35.1% in the second quarter. Pictet Asset Management Ltd. now owns 114,723 shares of the business services provider’s stock valued at $9,855,000 after buying an additional 29,791 shares during the last quarter. Finally, Texas Permanent School Fund lifted its stake in Multi-Color Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 9,654 shares of the business services provider’s stock valued at $788,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Shares of Multi-Color Corporation (LABL) opened at 80.95 on Monday. The company has a market capitalization of $1.38 billion, a PE ratio of 23.33 and a beta of 0.83. Multi-Color Corporation has a 1-year low of $63.05 and a 1-year high of $88.25. The firm has a 50-day moving average price of $79.22 and a 200-day moving average price of $77.89.

Multi-Color Corporation (NASDAQ:LABL) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. The firm had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $242.47 million. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Multi-Color Corporation will post $3.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Friday, August 11th. Multi-Color Corporation’s dividend payout ratio (DPR) is 5.76%.

A number of research firms have issued reports on LABL. BidaskClub cut Multi-Color Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Multi-Color Corporation from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Friday, June 2nd. KeyCorp reiterated a “sell” rating and issued a $67.00 target price on shares of Multi-Color Corporation in a research note on Friday, August 25th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Multi-Color Corporation in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $79.00.

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In other Multi-Color Corporation news, insider Nigel A. Vinecombe sold 25,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $80.23, for a total value of $2,005,750.00. Following the sale, the insider now directly owns 54,309 shares in the company, valued at $4,357,211.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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