Maryland State Retirement & Pension System Sells 545 Shares of Proto Labs, Inc. (NYSE:PRLB)

Maryland State Retirement & Pension System decreased its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,827 shares of the industrial products company’s stock after selling 545 shares during the period. Maryland State Retirement & Pension System’s holdings in Proto Labs were worth $273,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in Proto Labs during the 2nd quarter valued at approximately $40,000. Headlands Technologies LLC raised its position in Proto Labs by 224.0% during the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 1,295 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Proto Labs during the 1st quarter valued at approximately $110,000. Shell Asset Management Co. bought a new position in Proto Labs during the 1st quarter valued at approximately $132,000. Finally, Tradition Wealth Management LLC raised its position in Proto Labs by 7.8% during the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 84.54% of the company’s stock.

Proto Labs Stock Down 1.9 %

Proto Labs stock opened at $29.24 on Thursday. The company has a market capitalization of $735.39 million, a P/E ratio of 37.97 and a beta of 1.32. The stock’s 50 day moving average is $31.01 and its 200 day moving average is $32.31. Proto Labs, Inc. has a twelve month low of $23.01 and a twelve month high of $41.87.

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

Analysts Set New Price Targets

PRLB has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Monday, August 5th. StockNews.com downgraded Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Proto Labs in a report on Wednesday, May 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 target price on shares of Proto Labs in a report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Proto Labs has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Proto Labs 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.