Thrivent Financial For Lutherans Acquires 540 Shares of Multi-Color Corporation (LABL)

Thrivent Financial For Lutherans grew its holdings in shares of Multi-Color Corporation (NASDAQ:LABL) by 7.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,990 shares of the business services provider’s stock after buying an additional 540 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Multi-Color Corporation were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Multi-Color Corporation by 125,662.5% during the 1st quarter. BlackRock Inc. now owns 1,607,245 shares of the business services provider’s stock valued at $114,113,000 after buying an additional 1,605,967 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Multi-Color Corporation by 1.8% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 707,450 shares of the business services provider’s stock valued at $57,728,000 after buying an additional 12,825 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Multi-Color Corporation by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 689,589 shares of the business services provider’s stock valued at $48,962,000 after buying an additional 18,668 shares in the last quarter. State Street Corp raised its position in shares of Multi-Color Corporation by 8.4% during the 1st quarter. State Street Corp now owns 315,263 shares of the business services provider’s stock valued at $22,383,000 after buying an additional 24,447 shares in the last quarter. Finally, Tributary Capital Management LLC raised its position in shares of Multi-Color Corporation by 12.0% during the 2nd quarter. Tributary Capital Management LLC now owns 264,577 shares of the business services provider’s stock valued at $21,589,000 after buying an additional 28,449 shares in the last quarter. Hedge funds and other institutional investors own 73.35% of the company’s stock.

In other Multi-Color Corporation news, insider Nigel A. Vinecombe sold 25,000 shares of Multi-Color Corporation stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $80.23, for a total transaction of $2,005,750.00. Following the transaction, the insider now directly owns 54,309 shares of the company’s stock, valued at $4,357,211.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Nigel A. Vinecombe sold 3,081 shares of Multi-Color Corporation stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $82.15, for a total transaction of $253,104.15. Following the transaction, the chairman now directly owns 54,309 shares in the company, valued at $4,461,484.35. The disclosure for this sale can be found here. Insiders have sold 63,846 shares of company stock worth $5,194,386 over the last ninety days. 19.40% of the stock is owned by insiders.

Multi-Color Corporation (NASDAQ:LABL) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Multi-Color Corporation had a net margin of 6.38% and a return on equity of 15.85%. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $242.47 million. During the same period in the previous year, the firm earned $0.95 earnings per share. Multi-Color Corporation’s quarterly revenue was up 2.5% compared to the same quarter last year.

LABL has been the topic of several recent research reports. BidaskClub cut shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Multi-Color Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp reiterated a “sell” rating and set a $67.00 price target on shares of Multi-Color Corporation in a report on Friday, August 25th. Robert W. Baird reiterated a “hold” rating on shares of Multi-Color Corporation in a report on Friday, September 1st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $88.00 price target on shares of Multi-Color Corporation in a report on Monday, September 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $84.00.

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Multi-Color Corporation Company Profile

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.

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

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