Meros Investment Management LP Purchases 2,252 Shares of Proto Labs, Inc. (NYSE:PRLB)

Meros Investment Management LP raised its holdings in Proto Labs, Inc. (NYSE:PRLB) by 1.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 139,816 shares of the industrial products company’s stock after purchasing an additional 2,252 shares during the period. Proto Labs makes up 2.0% of Meros Investment Management LP’s portfolio, making the stock its 21st biggest position. Meros Investment Management LP’s holdings in Proto Labs were worth $4,319,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tradition Wealth Management LLC raised its holdings in shares of Proto Labs by 7.8% in the 4th quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock worth $163,000 after buying an additional 305 shares in the last quarter. Diversified Trust Co raised its stake in Proto Labs by 5.2% during the first quarter. Diversified Trust Co now owns 7,724 shares of the industrial products company’s stock worth $276,000 after acquiring an additional 382 shares in the last quarter. Gagnon Securities LLC lifted its holdings in shares of Proto Labs by 0.6% during the first quarter. Gagnon Securities LLC now owns 92,533 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 507 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Proto Labs by 2.4% in 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 purchasing an additional 534 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Proto Labs by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock worth $1,326,000 after purchasing an additional 812 shares during the last quarter. Institutional investors and hedge funds own 84.54% of the company’s stock.

Insider Activity

In other news, CEO Robert Bodor acquired 3,480 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the transaction, the chief executive officer now directly owns 80,878 shares in the company, valued at $2,319,581.04. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Proto Labs Trading Up 2.9 %

PRLB opened at $29.08 on Friday. Proto Labs, Inc. has a 1-year low of $23.01 and a 1-year high of $41.87. The stock has a market capitalization of $736.06 million, a PE ratio of 37.76 and a beta of 1.32. The firm has a 50-day moving average price of $30.30 and a two-hundred day moving average price of $31.50.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings results 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. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. The business had revenue of $125.60 million during the quarter, compared to analyst estimates of $126.25 million. During the same quarter last year, the business posted ($0.01) earnings per share. Proto Labs’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, research analysts predict that Proto Labs, Inc. will post 0.7 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRLB. 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. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research note on Monday, August 5th. Finally, StockNews.com lowered Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

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.