Public Sector Pension investment Board Sells 2,700 Shares of Multi-Color Corporation (LABL)
Public Sector Pension investment Board cut its stake in shares of Multi-Color Corporation (NASDAQ:LABL) by 28.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the business services provider’s stock after selling 2,700 shares during the quarter. Public Sector Pension investment Board’s holdings in Multi-Color Corporation were worth $563,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pinebridge Investments L.P. lifted its holdings in Multi-Color Corporation by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 1,742 shares of the business services provider’s stock worth $143,000 after buying an additional 18 shares during the period. New York State Common Retirement Fund lifted its holdings in Multi-Color Corporation by 4.9% during the 2nd quarter. New York State Common Retirement Fund now owns 15,000 shares of the business services provider’s stock worth $1,224,000 after buying an additional 699 shares during the period. Acrospire Investment Management LLC acquired a new position in Multi-Color Corporation during the 2nd quarter worth about $105,000. Thrivent Financial For Lutherans lifted its holdings in Multi-Color Corporation by 7.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 7,990 shares of the business services provider’s stock worth $652,000 after buying an additional 540 shares during the period. Finally, Stevens Capital Management LP acquired a new position in Multi-Color Corporation during the 2nd quarter worth about $379,000. 73.35% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Chairman Nigel A. Vinecombe sold 10,765 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $82.08, for a total value of $883,591.20. Following the sale, the chairman now directly owns 54,309 shares of the company’s stock, valued at $4,457,682.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nigel A. Vinecombe sold 10,301 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $82.06, for a total value of $845,300.06. Following the completion of the sale, the insider now directly owns 54,309 shares in the company, valued at $4,456,596.54. The disclosure for this sale can be found here. Insiders sold 63,846 shares of company stock worth $5,194,386 over the last three months. 19.40% of the stock is owned by insiders.
COPYRIGHT VIOLATION WARNING: This report was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/10/09/public-sector-pension-investment-board-sells-2700-shares-of-multi-color-corporation-labl.html.
LABL has been the topic of several recent research reports. Zacks Investment Research downgraded Multi-Color Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Robert W. Baird reaffirmed a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $88.00 target price on shares of Multi-Color Corporation in a report on Monday, September 25th. BidaskClub downgraded Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, KeyCorp reissued a “sell” rating and issued a $67.00 price objective on shares of Multi-Color Corporation in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Multi-Color Corporation has a consensus rating of “Hold” and an average price target of $81.00.
Multi-Color Corporation (LABL) opened at 84.00 on Monday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 24.21 and a beta of 0.80. Multi-Color Corporation has a 52 week low of $63.05 and a 52 week high of $88.25. The stock has a 50 day moving average price of $80.76 and a 200-day moving average price of $78.98.
Multi-Color Corporation (NASDAQ:LABL) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.06. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $242.47 million. Multi-Color Corporation had a return on equity of 15.85% and a net margin of 6.38%. Multi-Color Corporation’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Analysts anticipate that Multi-Color Corporation will post $3.98 EPS for the current fiscal year.
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.
Receive News & Stock Ratings for Multi-Color Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Multi-Color Corporation and related stocks with our FREE daily email newsletter.