1 week Ago By Defense World Staff
Arrowstreet Capital Limited Partnership grew its holdings in shares of Proto Labs, Inc. (NYSE:PRLB – Free Report) by 348.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission.
The fund owned 212,914 shares of the industrial products company’s stock after purchasing an additional 165,396 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.87% of Proto Labs worth $8,323,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Proto Labs by 23.4% in the 3rd quarter.
FMR LLC now owns 29,474 shares of the industrial products company’s stock worth $866,000 after purchasing an additional 5,584 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Proto Labs by 4.2% in the 3rd quarter.
UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,189 shares of the industrial products company’s stock worth $2,355,000 after acquiring an additional 3,247 shares during the last quarter. Verition Fund Management LLC lifted its position in Proto Labs by 27.1% during the 3rd quarter.
Verition Fund Management LLC now owns 13,118 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 2,800 shares during the period. Paloma Partners Management Co purchased a new stake in Proto Labs during the 3rd quarter valued at about $201,000. Finally, State Street Corp raised its stake in shares of Proto Labs by 1.
4% in the third quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock worth $28,355,000 after purchasing an additional 13,554 shares during the last quarter. Hedge funds and other institutional investors own 84.
54% of the company’s stock. Proto Labs Trading Down 5.0 %PRLB stock opened at $31.
62 on Monday. Proto Labs, Inc. has a 12-month low of $25.
76 and a 12-month high of $46.73. The business’s 50-day moving average is $39.
33 and its 200 day moving average is $37.16. The stock has a market cap of $766.
32 million, a price-to-earnings ratio of 48.65 and a beta of 1.52.
Proto Labs declared that its board has approved a stock buyback plan on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 9.
8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued. Wall Street Analyst Weigh InSeveral research firms have commented on PRLB.
Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, March 7th.
Finally, Cantor Fitzgerald upped their price objective on Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th.
Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.
View Our Latest Stock Report on Proto LabsProto Labs Company Profile (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.
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