Ameriprise Financial Inc. Has $4.65 Million Position in Proto Labs, Inc. (NYSE:PRLB)

Ameriprise Financial Inc. reduced its holdings in Proto Labs, Inc. (NYSE:PRLB) by 39.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,034 shares of the industrial products company’s stock after selling 78,237 shares during the period. Ameriprise Financial Inc. owned approximately 0.49% of Proto Labs worth $4,653,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in Proto Labs by 6.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 20,164 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 1,147 shares during the period. Empowered Funds LLC raised its holdings in Proto Labs by 544.3% in the fourth quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company’s stock worth $3,728,000 after purchasing an additional 80,558 shares during the period. Rhumbline Advisers raised its holdings in Proto Labs by 0.4% in the fourth quarter. Rhumbline Advisers now owns 78,783 shares of the industrial products company’s stock worth $3,080,000 after purchasing an additional 303 shares during the period. Principal Financial Group Inc. raised its holdings in Proto Labs by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 118,889 shares of the industrial products company’s stock worth $4,647,000 after purchasing an additional 299 shares during the period. Finally, Rice Hall James & Associates LLC acquired a new stake in Proto Labs in the fourth quarter worth $5,972,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Stock Down 1.5%

Shares of NYSE:PRLB opened at $36.89 on Monday. Proto Labs, Inc. has a 12 month low of $25.76 and a 12 month high of $46.73. The company’s fifty day simple moving average is $36.28 and its 200 day simple moving average is $38.89. The firm has a market cap of $876.82 million, a price-to-earnings ratio of 56.75 and a beta of 1.37.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. Proto Labs had a net margin of 3.31% and a return on equity of 2.44%. The business had revenue of $126.21 million for the quarter, compared to analyst estimates of $123.71 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Research analysts expect that Proto Labs, Inc. will post 0.81 earnings per share for the current fiscal year.

Proto Labs announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 9.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRLB shares. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. Wall Street Zen upgraded shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.67.

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.