Nordea Investment Management AB Acquires 105,813 Shares of Proto Labs, Inc. (NYSE:PRLB)

Nordea Investment Management AB increased its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 76.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 244,987 shares of the industrial products company’s stock after buying an additional 105,813 shares during the period. Nordea Investment Management AB owned 1.00% of Proto Labs worth $9,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN grew its holdings in Proto Labs by 5.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 2,056,593 shares of the industrial products company’s stock worth $60,402,000 after acquiring an additional 110,244 shares during the period. Dimensional Fund Advisors LP lifted its stake in Proto Labs by 13.3% in the second 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 period. State Street Corp boosted its holdings in Proto Labs by 1.4% during the third quarter. State Street Corp now owns 965,426 shares of the industrial products company’s stock worth $28,355,000 after buying an additional 13,554 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Proto Labs by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company’s stock worth $17,209,000 after buying an additional 4,285 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Proto Labs by 44,804.1% in the 3rd quarter. Pacer Advisors Inc. now owns 573,874 shares of the industrial products company’s stock valued at $16,855,000 after acquiring an additional 572,596 shares during the period. Institutional investors and hedge funds own 84.54% of the company’s stock.

Proto Labs Trading Down 1.5 %

Shares of PRLB stock opened at $37.54 on Friday. The firm’s fifty day moving average price is $40.12 and its two-hundred day moving average price is $33.45. Proto Labs, Inc. has a 1 year low of $25.75 and a 1 year high of $45.15. The firm has a market capitalization of $920.11 million, a P/E ratio of 39.94 and a beta of 1.45.

Proto Labs (NYSE:PRLB) last released its earnings results on Friday, November 1st. The industrial products company reported $0.47 earnings per share for the quarter, beating 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 analysts’ expectations of $121.38 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.