Dimensional Fund Advisors LP Cuts Holdings in 3D Systems Co. (NYSE:DDD)

Dimensional Fund Advisors LP reduced its position in 3D Systems Co. (NYSE:DDD) by 19.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,539,198 shares of the 3D printing company’s stock after selling 383,324 shares during the period. Dimensional Fund Advisors LP’s holdings in 3D Systems were worth $4,726,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in shares of 3D Systems by 54.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 20,986 shares of the 3D printing company’s stock valued at $133,000 after acquiring an additional 7,438 shares during the last quarter. Inspire Advisors LLC raised its holdings in 3D Systems by 24.2% during the 2nd quarter. Inspire Advisors LLC now owns 46,960 shares of the 3D printing company’s stock valued at $144,000 after buying an additional 9,136 shares during the period. Federated Hermes Inc. lifted its position in 3D Systems by 21.8% in the second quarter. Federated Hermes Inc. now owns 55,180 shares of the 3D printing company’s stock worth $169,000 after buying an additional 9,860 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in 3D Systems during the fourth quarter worth $65,000. Finally, Foundations Investment Advisors LLC bought a new position in 3D Systems during the second quarter valued at $37,000. 64.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DDD has been the topic of several analyst reports. StockNews.com downgraded shares of 3D Systems from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Lake Street Capital dropped their price objective on 3D Systems from $6.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Needham & Company LLC reiterated a “hold” rating on shares of 3D Systems in a research note on Friday, August 30th. Loop Capital lowered their target price on shares of 3D Systems from $4.50 to $2.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Cantor Fitzgerald decreased their price objective on shares of 3D Systems from $5.50 to $3.75 and set an “overweight” rating for the company in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.25.

3D Systems Price Performance

Shares of DDD stock opened at $2.96 on Thursday. 3D Systems Co. has a twelve month low of $1.72 and a twelve month high of $6.85. The company has a current ratio of 3.46, a quick ratio of 2.42 and a debt-to-equity ratio of 0.55. The stock has a fifty day simple moving average of $2.52 and a two-hundred day simple moving average of $3.28. The stock has a market capitalization of $395.37 million, a price-to-earnings ratio of -1.04 and a beta of 1.66.

3D Systems (NYSE:DDD) last released its quarterly earnings data on Thursday, August 29th. The 3D printing company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). 3D Systems had a negative return on equity of 15.29% and a negative net margin of 78.14%. The business had revenue of $113.25 million during the quarter, compared to analysts’ expectations of $125.15 million. On average, analysts predict that 3D Systems Co. will post -0.67 EPS for the current fiscal year.

About 3D Systems

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.