First Trust Advisors LP cut its position in shares of Proto Labs Inc (NYSE:PRLB) by 42.6% during the 1st quarter, Holdings Channel reports. The firm owned 41,672 shares of the industrial products company’s stock after selling 30,913 shares during the period. First Trust Advisors LP’s holdings in Proto Labs were worth $4,381,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Chatham Capital Group Inc. lifted its holdings in Proto Labs by 0.9% in the 1st quarter. Chatham Capital Group Inc. now owns 18,182 shares of the industrial products company’s stock worth $1,912,000 after buying an additional 163 shares during the period. Piedmont Investment Advisors Inc. lifted its holdings in Proto Labs by 5.7% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,813 shares of the industrial products company’s stock worth $716,000 after buying an additional 370 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Proto Labs by 1.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 35,887 shares of the industrial products company’s stock worth $3,772,000 after buying an additional 460 shares during the period. Wasatch Advisors Inc. lifted its holdings in Proto Labs by 118.0% in the 1st quarter. Wasatch Advisors Inc. now owns 92,039 shares of the industrial products company’s stock worth $9,677,000 after buying an additional 49,818 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Proto Labs in the 1st quarter worth approximately $339,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.
Separately, Zacks Investment Research lowered Proto Labs from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $134.00.
Shares of NYSE:PRLB opened at $104.49 on Thursday. Proto Labs Inc has a 52-week low of $94.20 and a 52-week high of $166.60. The company has a market capitalization of $2.75 billion, a PE ratio of 37.19, a PEG ratio of 1.31 and a beta of 1.56. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.89 and a quick ratio of 4.67.
Proto Labs (NYSE:PRLB) last announced its earnings results on Thursday, April 25th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08. Proto Labs had a return on equity of 13.86% and a net margin of 16.41%. The firm had revenue of $113.50 million during the quarter, compared to analyst estimates of $115.24 million. During the same quarter in the prior year, the company earned $0.71 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Proto Labs Inc will post 2.47 EPS for the current year.
Proto Labs Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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