Amalgamated Bank Decreases Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Amalgamated Bank reduced its position in Proto Labs, Inc. (NYSE:PRLB) by 5.1% in the second quarter, Holdings Channel.com reports. The fund owned 7,730 shares of the industrial products company’s stock after selling 416 shares during the period. Amalgamated Bank’s holdings in Proto Labs were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in Proto Labs by 17.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,969 shares of the industrial products company’s stock worth $401,000 after acquiring an additional 1,969 shares during the last quarter. Renaissance Technologies LLC raised its stake in Proto Labs by 32.3% during the 2nd quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock valued at $13,463,000 after buying an additional 106,423 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Proto Labs by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock valued at $34,305,000 after buying an additional 130,670 shares during the last quarter. Federated Hermes Inc. raised its stake in Proto Labs by 8.7% during the 2nd quarter. Federated Hermes Inc. now owns 26,762 shares of the industrial products company’s stock valued at $827,000 after buying an additional 2,141 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Proto Labs during the 2nd quarter valued at $80,000. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 target price on shares of Proto Labs in a research note on Tuesday, July 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Proto Labs currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Proto Labs Price Performance

NYSE:PRLB opened at $29.37 on Tuesday. The firm has a market capitalization of $743.53 million, a price-to-earnings ratio of 38.14 and a beta of 1.32. Proto Labs, Inc. has a one year low of $23.01 and a one year high of $41.87. The business has a fifty day moving average price of $30.15 and a 200-day moving average price of $31.36.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 EPS for the quarter, topping the consensus estimate 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%. Proto Labs’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.01) EPS. On average, equities research analysts expect that Proto Labs, Inc. will post 0.7 earnings per share for the current fiscal year.

Insider Transactions at Proto Labs

In related news, CEO Robert Bodor acquired 3,480 shares of Proto Labs stock in a transaction dated 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 purchase, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Proto Labs 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.