AIMZ Investment Advisors LLC Reduces Position in Proto Labs, Inc. (NYSE:PRLB)

AIMZ Investment Advisors LLC decreased its position in Proto Labs, Inc. (NYSE:PRLB) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,523 shares of the industrial products company’s stock after selling 950 shares during the period. AIMZ Investment Advisors LLC owned 0.18% of Proto Labs worth $1,437,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PRLB. Russell Investments Group Ltd. grew its stake in shares of Proto Labs by 1.9% in the 4th quarter. Russell Investments Group Ltd. now owns 41,448 shares of the industrial products company’s stock valued at $1,615,000 after buying an additional 766 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Proto Labs in the 4th quarter worth approximately $202,000. Teacher Retirement System of Texas acquired a new position in shares of Proto Labs in the 4th quarter worth approximately $524,000. QRG Capital Management Inc. lifted its holdings in shares of Proto Labs by 18.6% in the 4th quarter. QRG Capital Management Inc. now owns 25,936 shares of the industrial products company’s stock worth $1,010,000 after acquiring an additional 4,073 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Proto Labs by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 811,902 shares of the industrial products company’s stock worth $31,633,000 after acquiring an additional 34,434 shares during the last quarter. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Proto Labs Stock Down 0.6 %

Proto Labs stock opened at $29.18 on Thursday. The firm has a market cap of $738.72 million, a PE ratio of 37.90 and a beta of 1.32. Proto Labs, Inc. has a 52-week low of $23.01 and a 52-week high of $41.87. The company’s 50 day moving average is $30.84 and its two-hundred day moving average is $32.04.

Proto Labs (NYSE:PRLB) last released its earnings results on Friday, August 2nd. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $125.60 million for the quarter, compared to analyst estimates of $126.25 million. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.01) EPS. On average, equities research analysts anticipate that Proto Labs, Inc. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRLB shares. StockNews.com lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a report on Wednesday, May 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $44.00 price objective on shares of Proto Labs in a report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Proto Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Insider Buying and Selling at Proto Labs

In other news, CEO Robert Bodor acquired 3,480 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $28.68 per share, with a total value of $99,806.40. Following the transaction, the chief executive officer now owns 80,878 shares in the company, valued at approximately $2,319,581.04. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.