Everence Capital Management Inc. Cuts Stock Position in 3D Systems Co. (NYSE:DDD)

Everence Capital Management Inc. cut its holdings in 3D Systems Co. (NYSE:DDDGet Rating) by 27.3% in the first quarter, HoldingsChannel reports. The firm owned 16,470 shares of the 3D printing company’s stock after selling 6,200 shares during the quarter. Everence Capital Management Inc.’s holdings in 3D Systems were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Nikko Asset Management Americas Inc. boosted its stake in 3D Systems by 83.9% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,654,231 shares of the 3D printing company’s stock worth $79,224,000 after buying an additional 1,666,740 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in 3D Systems by 83.6% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,651,342 shares of the 3D printing company’s stock worth $78,650,000 after buying an additional 1,662,200 shares during the period. ARK Investment Management LLC boosted its stake in 3D Systems by 38.3% during the fourth quarter. ARK Investment Management LLC now owns 5,550,443 shares of the 3D printing company’s stock worth $119,557,000 after buying an additional 1,538,274 shares during the period. Vident Investment Advisory LLC boosted its stake in 3D Systems by 50.1% during the fourth quarter. Vident Investment Advisory LLC now owns 1,098,475 shares of the 3D printing company’s stock worth $23,661,000 after buying an additional 366,438 shares during the period. Finally, Wealth Effects LLC purchased a new position in 3D Systems during the fourth quarter worth $5,733,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

DDD has been the subject of a number of recent analyst reports. Bank of America lowered their target price on shares of 3D Systems from $23.00 to $12.00 in a research note on Tuesday, May 10th. Lake Street Capital lowered their target price on shares of 3D Systems from $36.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 1st. StockNews.com lowered shares of 3D Systems from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. JPMorgan Chase & Co. lowered their target price on shares of 3D Systems from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Tuesday, March 1st. Finally, Craig Hallum lowered their target price on shares of 3D Systems from $18.00 to $10.00 in a research note on Wednesday, May 11th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.67.

DDD stock opened at $9.90 on Thursday. The company has a market capitalization of $1.29 billion, a P/E ratio of 4.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 6.57 and a quick ratio of 5.90. The business has a 50-day moving average price of $11.14 and a 200 day moving average price of $15.75. 3D Systems Co. has a 1-year low of $8.78 and a 1-year high of $41.48.

3D Systems (NYSE:DDDGet Rating) last announced its earnings results on Monday, May 9th. The 3D printing company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). 3D Systems had a negative return on equity of 5.29% and a net margin of 41.50%. The firm had revenue of $133.00 million during the quarter, compared to the consensus estimate of $132.67 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts anticipate that 3D Systems Co. will post -0.39 earnings per share for the current fiscal year.

In other news, Director Jim D. Kever bought 10,000 shares of 3D Systems stock in a transaction that occurred on Thursday, May 26th. The stock was bought at an average price of $10.65 per share, for a total transaction of $106,500.00. Following the purchase, the director now directly owns 404,672 shares of the company’s stock, valued at approximately $4,309,756.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey A. Graves bought 10,141 shares of 3D Systems stock in a transaction that occurred on Thursday, May 19th. The stock was purchased at an average price of $10.50 per share, with a total value of $106,480.50. Following the purchase, the chief executive officer now directly owns 577,158 shares in the company, valued at $6,060,159. The disclosure for this purchase can be found here. 3.45% of the stock is currently owned by insiders.

About 3D Systems (Get Rating)

3D Systems Corporation, through its subsidiaries, provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.

Further Reading

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Institutional Ownership by Quarter for 3D Systems (NYSE:DDD)

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