Empowered Funds LLC Buys 5,950 Shares of Proto Labs, Inc. (NYSE:PRLB)

Empowered Funds LLC raised its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.1% in the 1st quarter, HoldingsChannel reports. The firm owned 79,451 shares of the industrial products company’s stock after purchasing an additional 5,950 shares during the period. Empowered Funds LLC’s holdings in Proto Labs were worth $2,840,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Tradition Wealth Management LLC lifted its holdings in shares of 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 worth $163,000 after acquiring an additional 305 shares during the last quarter. Diversified Trust Co raised its position 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 valued at $276,000 after purchasing an additional 382 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Proto Labs by 2.4% during the first quarter. Texas Permanent School Fund Corp now owns 22,568 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 534 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Proto Labs by 1.9% in the 4th quarter. Russell Investments Group Ltd. now owns 41,448 shares of the industrial products company’s stock worth $1,615,000 after purchasing an additional 766 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Proto Labs by 3,795.7% in the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 873 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Monday, May 6th. Craig Hallum lowered their price objective on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating for the company in a report on Monday, May 6th. Benchmark reaffirmed a “buy” rating and set a $45.00 target price on shares of Proto Labs in a report on Wednesday, May 29th. Finally, Cantor Fitzgerald assumed coverage on shares of Proto Labs in a research note on Wednesday, June 5th. They issued an “overweight” rating and a $44.00 price target for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Proto Labs has an average rating of “Moderate Buy” and an average target price of $41.25.

Proto Labs Trading Up 2.2 %

Shares of NYSE:PRLB opened at $32.04 on Friday. The company has a 50-day moving average price of $31.11 and a 200-day moving average price of $33.80. The company has a market cap of $811.25 million, a price-to-earnings ratio of 41.61 and a beta of 1.33. Proto Labs, Inc. has a 12 month low of $23.01 and a 12 month high of $41.87.

Proto Labs (NYSE:PRLB) last released its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $127.89 million during the quarter, compared to analyst estimates of $123.81 million. Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. As a group, research analysts forecast that Proto Labs, Inc. will post 0.69 EPS for the current fiscal year.

Proto Labs Company Profile

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.