Ameriprise Financial Inc. Has $4.65 Million Position in Proto Labs, Inc. (NYSE:PRLB)

Ameriprise Financial Inc. trimmed its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 39.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,034 shares of the industrial products company's stock after selling 78,237 shares during the period. Ameriprise Financial Inc. owned approximately 0.49% of Proto Labs worth $4,653,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in Proto Labs by 764.1% in the fourth quarter. Sterling Capital Management LLC now owns 795 shares of the industrial products company's stock valued at $31,000 after buying an additional 703 shares during the period. Quarry LP lifted its holdings in Proto Labs by 175.7% in the fourth quarter. Quarry LP now owns 1,585 shares of the industrial products company's stock valued at $62,000 after buying an additional 1,010 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Proto Labs in the fourth quarter valued at approximately $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Proto Labs in the fourth quarter valued at approximately $205,000. Finally, LPL Financial LLC acquired a new position in Proto Labs in the fourth quarter valued at approximately $210,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRLB has been the topic of several analyst reports. Cantor Fitzgerald increased their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Wall Street Zen raised shares of Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.67.

Proto Labs Trading Down 1.4%

Shares of PRLB stock traded down $0.55 during trading hours on Wednesday, hitting $37.72. 203,001 shares of the company were exchanged, compared to its average volume of 236,083. The business has a 50 day moving average of $36.33 and a two-hundred day moving average of $38.87. Proto Labs, Inc. has a 52 week low of $25.76 and a 52 week high of $46.73. The company has a market capitalization of $896.64 million, a PE ratio of 58.03 and a beta of 1.37.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. Proto Labs had a net margin of 3.31% and a return on equity of 2.44%. The company had revenue of $126.21 million during the quarter, compared to the consensus estimate of $123.71 million. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The firm's revenue was down 1.3% compared to the same quarter last year. On average, research analysts forecast that Proto Labs, Inc. will post 0.81 EPS for the current year.

Proto Labs declared that its Board of Directors has approved a stock buyback program on Friday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 9.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

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.