Proto Labs, Inc. (PRLB) Holdings Lifted by Ameriprise Financial Inc.
Ameriprise Financial Inc. grew its position in Proto Labs, Inc. (NYSE:PRLB) by 52.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,062 shares of the industrial products company’s stock after buying an additional 91,072 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.00% of Proto Labs worth $17,891,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its holdings in shares of Proto Labs by 8.7% during the first quarter. Great West Life Assurance Co. Can now owns 34,194 shares of the industrial products company’s stock valued at $1,746,000 after acquiring an additional 2,738 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Proto Labs by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 345,561 shares of the industrial products company’s stock valued at $17,657,000 after purchasing an additional 17,316 shares in the last quarter. Comerica Bank lifted its holdings in shares of Proto Labs by 4.6% in the first quarter. Comerica Bank now owns 27,133 shares of the industrial products company’s stock valued at $1,586,000 after purchasing an additional 1,184 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Proto Labs in the first quarter valued at $260,000. Finally, State of Tennessee Treasury Department lifted its holdings in shares of Proto Labs by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 22,130 shares of the industrial products company’s stock valued at $1,131,000 after purchasing an additional 3,340 shares in the last quarter.
A number of research analysts have recently weighed in on PRLB shares. Dougherty & Co raised Proto Labs from a “sell” rating to a “neutral” rating in a research report on Tuesday, June 27th. Zacks Investment Research downgraded Proto Labs from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $67.00 price objective on shares of Proto Labs in a research report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating, Proto Labs currently has a consensus rating of “Hold” and a consensus target price of $59.33.
Proto Labs, Inc. (NYSE:PRLB) opened at 81.70 on Wednesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 47.50 and a beta of 0.99. The stock has a 50 day moving average of $73.61 and a 200-day moving average of $65.43. Proto Labs, Inc. has a 1-year low of $43.10 and a 1-year high of $82.50.
Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, July 27th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $82.04 million during the quarter, compared to analysts’ expectations of $80.49 million. Proto Labs had a return on equity of 11.75% and a net margin of 14.59%. Proto Labs’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Proto Labs, Inc. will post $2.06 earnings per share for the current year.
In other news, VP Robert Bodor sold 3,259 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $72.02, for a total value of $234,713.18. Following the completion of the transaction, the vice president now owns 19,837 shares in the company, valued at $1,428,660.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.78% of the company’s stock.
Proto Labs Company Profile
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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