Franklin Resources Inc. Acquires 980 Shares of Proto Labs, Inc. (NYSE:PRLB)

Franklin Resources Inc. raised its holdings in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,989 shares of the industrial products company’s stock after acquiring an additional 980 shares during the period. Franklin Resources Inc.’s holdings in Proto Labs were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Canada Pension Plan Investment Board bought a new stake in shares of Proto Labs in the 2nd quarter valued at about $37,000. KBC Group NV increased its stake in Proto Labs by 69.3% in the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the period. Meeder Asset Management Inc. bought a new stake in Proto Labs in the second quarter valued at approximately $80,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Proto Labs by 40.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after purchasing an additional 1,186 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Proto Labs in the third quarter worth approximately $201,000. 84.54% of the stock is owned by institutional investors.

Proto Labs Trading Down 0.4 %

Shares of NYSE PRLB opened at $39.09 on Wednesday. The firm has a fifty day simple moving average of $38.52 and a two-hundred day simple moving average of $33.08. The firm has a market capitalization of $958.10 million, a PE ratio of 41.59 and a beta of 1.45. Proto Labs, Inc. has a 12 month low of $25.75 and a 12 month high of $45.15.

Proto Labs (NYSE:PRLB) last issued its quarterly earnings data on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.32 by $0.15. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The business had revenue of $125.60 million during the quarter, compared to analyst estimates of $121.38 million. During the same period last year, the business posted $0.31 earnings per share. Proto Labs’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Proto Labs, Inc. will post 0.84 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Craig Hallum increased their price target on shares of Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reiterated a “hold” rating on shares of Proto Labs in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $40.00 price target on shares of Proto Labs in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.33.

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.