Proto Labs, Inc. (NYSE:PRLB) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,070 shares of the industrial products company’s stock after selling 6,312 shares during the period. Nuveen Asset Management LLC owned 0.29% of Proto Labs worth $2,817,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRLB. Lazard Asset Management LLC raised its position in Proto Labs by 182.3% in the fourth quarter. Lazard Asset Management LLC now owns 5,875 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 3,794 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Proto Labs during the 4th quarter worth about $337,000. Deutsche Bank AG raised its holdings in Proto Labs by 8.4% in the 4th quarter. Deutsche Bank AG now owns 104,298 shares of the industrial products company’s stock valued at $4,077,000 after buying an additional 8,109 shares during the period. Bridgeway Capital Management LLC lifted its position in Proto Labs by 81.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 96,359 shares of the industrial products company’s stock valued at $3,767,000 after buying an additional 43,358 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Proto Labs by 40.8% during the fourth quarter. Captrust Financial Advisors now owns 20,010 shares of the industrial products company’s stock worth $782,000 after buying an additional 5,797 shares during the period. Institutional investors and hedge funds own 84.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PRLB shares. Cantor Fitzgerald increased their price target on shares of Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wall Street Zen raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Friday, February 7th.

Proto Labs Stock Performance

Shares of PRLB opened at $36.55 on Tuesday. Proto Labs, Inc. has a 1 year low of $25.76 and a 1 year high of $46.73. The company’s 50 day simple moving average is $36.35 and its 200 day simple moving average is $38.83. The company has a market capitalization of $868.90 million, a price-to-earnings ratio of 56.24 and a beta of 1.37.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.04. The company had revenue of $126.21 million during the quarter, compared to analysts’ expectations of $123.71 million. Proto Labs had a net margin of 3.31% and a return on equity of 2.44%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts expect that Proto Labs, Inc. will post 0.81 EPS for the current fiscal year.

Proto Labs announced that its Board of Directors has initiated a stock buyback program on Friday, February 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

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.