Principal Financial Group Inc. Reduces Stock Position in 3D Systems Co. (NYSE:DDD)

Principal Financial Group Inc. cut its position in 3D Systems Co. (NYSE:DDD) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 657,655 shares of the 3D printing company’s stock after selling 34,824 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of 3D Systems worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DDD. Vanguard Group Inc. lifted its holdings in 3D Systems by 0.7% in the first quarter. Vanguard Group Inc. now owns 14,217,779 shares of the 3D printing company’s stock valued at $63,127,000 after acquiring an additional 98,797 shares during the period. Tidal Investments LLC purchased a new stake in 3D Systems during the 1st quarter valued at about $271,000. Gabelli Funds LLC increased its holdings in shares of 3D Systems by 53.6% in the first quarter. Gabelli Funds LLC now owns 61,435 shares of the 3D printing company’s stock valued at $273,000 after purchasing an additional 21,435 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of 3D Systems by 5,994.9% in the 4th quarter. Russell Investments Group Ltd. now owns 4,754 shares of the 3D printing company’s stock worth $30,000 after acquiring an additional 4,676 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in 3D Systems by 16.4% during the fourth quarter. Victory Capital Management Inc. now owns 25,965 shares of the 3D printing company’s stock worth $165,000 after purchasing an additional 3,652 shares during the period. 64.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on DDD. Loop Capital decreased their price target on 3D Systems from $4.50 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Cantor Fitzgerald cut their price objective on 3D Systems from $5.50 to $3.75 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of 3D Systems in a report on Friday, August 30th. StockNews.com cut 3D Systems from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Lake Street Capital dropped their target price on shares of 3D Systems from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 3D Systems presently has a consensus rating of “Hold” and a consensus price target of $3.25.

3D Systems Stock Performance

NYSE:DDD opened at $2.32 on Friday. The firm has a market cap of $308.90 million, a price-to-earnings ratio of -0.82 and a beta of 1.65. The firm’s fifty day moving average price is $2.93 and its 200 day moving average price is $3.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.46 and a quick ratio of 2.42. 3D Systems Co. has a 1-year low of $1.72 and a 1-year high of $6.85.

3D Systems (NYSE:DDD) last announced its quarterly earnings data on Tuesday, August 20th. The 3D printing company reported ($0.23) earnings per share for the quarter. 3D Systems had a negative return on equity of 15.29% and a negative net margin of 78.14%. The business had revenue of $102.91 million for the quarter. On average, sell-side analysts expect that 3D Systems Co. will post -0.35 EPS for the current year.

3D Systems Profile

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.