Principal Financial Group Inc. increased its stake in shares of Proto Labs Inc. (NYSE:PRLB) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,574 shares of the company’s stock after buying an additional 1,945 shares during the period. Principal Financial Group Inc. owned approximately 0.63% of Proto Labs worth $9,588,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in PRLB. FineMark National Bank & Trust raised its position in shares of Proto Labs by 0.3% in the second quarter. FineMark National Bank & Trust now owns 1,988 shares of the company’s stock valued at $114,000 after buying an additional 6 shares in the last quarter. BlackRock Inc. increased its stake in Proto Labs by 120.2% in the first quarter. BlackRock Inc. now owns 1,594 shares of the company’s stock valued at $123,000 after buying an additional 870 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Proto Labs by 17.6% in the second quarter. Teacher Retirement System of Texas now owns 3,391 shares of the company’s stock valued at $195,000 after buying an additional 507 shares during the last quarter. Mariner Wealth Advisors LLC acquired a new stake in Proto Labs during the first quarter valued at approximately $222,000. Finally, BB&T Corp acquired a new stake in Proto Labs during the second quarter valued at approximately $241,000.
Shares of Proto Labs Inc. (NYSE:PRLB) opened at 55.02 on Monday. The company has a market capitalization of $1.45 billion, a P/E ratio of 31.82 and a beta of 0.49. The firm has a 50-day moving average of $56.59 and a 200-day moving average of $62.13. Proto Labs Inc. has a 12 month low of $50.50 and a 12 month high of $82.06.
Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, July 28th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.03. Proto Labs had a return on equity of 13.76% and a net margin of 15.82%. The company earned $75 million during the quarter, compared to analysts’ expectations of $77.20 million. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts predict that Proto Labs Inc. will post $1.83 earnings per share for the current year.
PRLB has been the subject of several recent research reports. Dougherty & Co downgraded shares of Proto Labs from a “buy” rating to a “sell” rating in a research report on Wednesday, August 31st. TheStreet downgraded shares of Proto Labs from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Zacks Investment Research downgraded shares of Proto Labs from a “hold” rating to a “strong sell” rating in a research report on Thursday, September 15th. Finally, Canaccord Genuity reissued a “buy” rating and set a $65.00 target price on shares of Proto Labs in a research report on Friday, September 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.25.
In other Proto Labs news, insider Arthur R. Baker III purchased 3,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was bought at an average cost of $55.00 per share, with a total value of $165,000.00. Following the transaction, the insider now directly owns 7,105 shares in the company, valued at approximately $390,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.48% of the stock is currently owned by insiders.
About Proto Labs
Proto Labs, Inc is an online and technology-enabled manufacturer of on-demand three-dimensional (3D)-printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. It utilizes injection molding, CNC machining and 3D printing to manufacture custom parts for its customers.
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