Posted by admin on Aug 8th, 2022
New York State Common Retirement Fund lessened its holdings in Proto Labs, Inc. (NYSE:PRLB – Get Rating) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,459 shares of the industrial products company’s stock after selling 232 shares during the quarter. New York State Common Retirement Fund owned approximately 0.74% of Proto Labs worth $10,816,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Proto Labs by 49.5% during the 1st quarter. Victory Capital Management Inc. now owns 47,906 shares of the industrial products company’s stock valued at $2,432,000 after purchasing an additional 15,863 shares during the period. Hardy Reed LLC acquired a new stake in Proto Labs during the 1st quarter valued at approximately $30,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Proto Labs by 5.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 964,597 shares of the industrial products company’s stock valued at $51,027,000 after purchasing an additional 52,982 shares during the period. Strs Ohio acquired a new stake in Proto Labs during the 1st quarter valued at approximately $634,000. Finally, Inspire Investing LLC acquired a new stake in Proto Labs during the 1st quarter valued at approximately $237,000. Institutional investors own 93.35% of the company’s stock.
Shares of PRLB stock opened at $46.90 on Monday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 53.30 and a beta of 1.28. Proto Labs, Inc. has a 52 week low of $39.36 and a 52 week high of $82.98. The firm has a 50 day moving average of $47.81 and a 200-day moving average of $49.11.
Proto Labs (NYSE:PRLB – Get Rating) last posted its quarterly earnings results on Friday, May 6th. The industrial products company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.07. Proto Labs had a net margin of 7.01% and a return on equity of 4.19%. The business had revenue of $124.20 million during the quarter, compared to the consensus estimate of $122.03 million. During the same quarter last year, the firm posted $0.13 EPS. Proto Labs’s revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Proto Labs, Inc. will post 0.63 earnings per share for the current year.
Separately, Craig Hallum decreased their target price on shares of Proto Labs from $56.00 to $50.00 in a research report on Monday, May 9th.
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.
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