US Bancorp DE lessened its position in shares of Proto Labs Inc (NYSE:PRLB) by 4.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 50,159 shares of the industrial products company’s stock after selling 2,258 shares during the period. US Bancorp DE’s holdings in Proto Labs were worth $8,114,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Radnor Capital Management LLC grew its holdings in Proto Labs by 12.0% during the 3rd quarter. Radnor Capital Management LLC now owns 3,360 shares of the industrial products company’s stock worth $543,000 after acquiring an additional 360 shares in the last quarter. Aperio Group LLC grew its holdings in Proto Labs by 4.8% during the 3rd quarter. Aperio Group LLC now owns 9,831 shares of the industrial products company’s stock worth $1,590,000 after acquiring an additional 454 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Proto Labs by 14.9% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 3,858 shares of the industrial products company’s stock worth $459,000 after acquiring an additional 500 shares in the last quarter. Piedmont Investment Advisors LLC grew its holdings in Proto Labs by 9.8% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 5,873 shares of the industrial products company’s stock worth $699,000 after acquiring an additional 526 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Proto Labs by 4.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,926 shares of the industrial products company’s stock worth $1,894,000 after acquiring an additional 670 shares in the last quarter. Institutional investors own 94.44% of the company’s stock.
In other news, CTO Arthur R. Baker III sold 3,474 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $154.81, for a total value of $537,809.94. Following the completion of the transaction, the chief technology officer now owns 20,020 shares in the company, valued at approximately $3,099,296.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Robert Bodor sold 3,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $145.00, for a total transaction of $435,000.00. Following the completion of the transaction, the vice president now owns 22,755 shares of the company’s stock, valued at approximately $3,299,475. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,934 shares of company stock valued at $3,663,441. Company insiders own 0.64% of the company’s stock.
NYSE PRLB opened at $124.90 on Friday. Proto Labs Inc has a 52 week low of $82.93 and a 52 week high of $166.60. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 64.72, a PEG ratio of 2.18 and a beta of 1.46.
Proto Labs (NYSE:PRLB) last issued its earnings results on Thursday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.21. Proto Labs had a net margin of 16.76% and a return on equity of 14.31%. The business had revenue of $115.43 million during the quarter, compared to analysts’ expectations of $112.53 million. Equities analysts forecast that Proto Labs Inc will post 2.79 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Proto Labs from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a report on Friday, August 3rd.
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Proto Labs Profile
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce enabled digital manufacturer of custom parts for prototyping and short-run production worldwide. It utilizes injection molding, computer numerical control machining, three-dimensional (3D) printing, and sheet metal fabrication to manufacture custom parts for developers and engineers who use 3D computer-aided design software to design products across a range of end markets.
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