1 week Ago By Defense World Staff
KLP Kapitalforvaltning AS bought a new position in shares of Proto Labs, Inc. ( NYSE:PRLB – Free Report ) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 4,900 shares of the industrial products company’s stock, valued at approximately $192,000.
A number of other hedge funds also recently made changes to their positions in PRLB. Hillsdale Investment Management Inc. increased its position in Proto Labs by 0.
8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 115,724 shares of the industrial products company’s stock worth $4,524,000 after buying an additional 900 shares during the last quarter.
American Century Companies Inc. grew its stake in shares of Proto Labs by 0.8% during the 4th quarter.
American Century Companies Inc. now owns 52,579 shares of the industrial products company’s stock worth $2,055,000 after acquiring an additional 404 shares during the period. Summit Global Investments bought a new position in shares of Proto Labs during the 4th quarter worth $318,000.
Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Proto Labs in the 4th quarter worth about $205,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Proto Labs by 95.
3% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 133,601 shares of the industrial products company’s stock valued at $5,222,000 after acquiring an additional 65,198 shares during the period.
84.54% of the stock is currently owned by institutional investors. Analyst Upgrades and Downgrades A number of equities analysts have weighed in on the stock.
Cantor Fitzgerald increased their target price 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.
Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. Finally, StockNews.com downgraded Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.
Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.
67. Proto Labs Trading Down 2.3 % PRLB stock opened at $31.
04 on Wednesday. The firm has a 50 day moving average of $38.74 and a 200-day moving average of $37.
14. The firm has a market capitalization of $752.27 million, a P/E ratio of 47.
76 and a beta of 1.52. Proto Labs, Inc.
has a 12 month low of $25.76 and a 12 month high of $46.73.
Proto Labs declared that its board has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 9.
8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued. About Proto Labs ( Free Report ) 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. Recommended Stories Five stocks we like better than Proto Labs How to Short a Stock in 5 Easy Steps Tariff-Proof Stocks: 3 Big Bargains With Huge Upside Potential What is the Hang Seng index? Qualcomm Breaks Down But RSI Signals It’s Severely Oversold Best Stocks Under $5.
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