Maryland State Retirement & Pension System Cuts Holdings in Proto Labs, Inc. (NYSE:PRLB)

Maryland State Retirement & Pension System trimmed its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,827 shares of the industrial products company’s stock after selling 545 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Proto Labs were worth $273,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tradition Wealth Management LLC boosted its stake in Proto Labs by 7.8% during the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after purchasing an additional 305 shares during the last quarter. Diversified Trust Co boosted its stake in Proto Labs by 5.2% during the 1st quarter. Diversified Trust Co now owns 7,724 shares of the industrial products company’s stock valued at $276,000 after purchasing an additional 382 shares during the last quarter. Gagnon Securities LLC boosted its stake in Proto Labs by 0.6% during the 1st quarter. Gagnon Securities LLC now owns 92,533 shares of the industrial products company’s stock valued at $3,308,000 after purchasing an additional 507 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Proto Labs by 2.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock valued at $807,000 after buying an additional 534 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Proto Labs by 1.9% during the 4th quarter. Russell Investments Group Ltd. now owns 41,448 shares of the industrial products company’s stock valued at $1,615,000 after buying an additional 766 shares during the period. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRLB has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Proto Labs in a report on Wednesday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. Finally, StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Proto Labs Stock Down 1.9 %

Shares of Proto Labs stock opened at $29.24 on Thursday. The firm has a market cap of $735.39 million, a price-to-earnings ratio of 37.97 and a beta of 1.32. The business has a 50-day moving average price of $31.01 and a 200-day moving average price of $32.31. Proto Labs, Inc. has a twelve month low of $23.01 and a twelve month high of $41.87.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $125.60 million during the quarter, compared to analyst estimates of $126.25 million. Proto Labs had a return on equity of 3.60% and a net margin of 4.86%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. On average, equities analysts expect that Proto Labs, Inc. will post 0.7 EPS for the current fiscal year.

About Proto Labs

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.