Bank of New York Mellon Corp Invests $11.72 Million in Proto Labs, Inc. $PRLB

Bank of New York Mellon Corp acquired a new stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 143,782 shares of the industrial products company's stock, valued at approximately $11,720,000. Bank of New York Mellon Corp owned approximately 0.60% of Proto Labs as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Proto Labs by 51.3% during the first quarter. Royal Bank of Canada now owns 6,510 shares of the industrial products company's stock valued at $228,000 after buying an additional 2,207 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Proto Labs by 3.3% in the 1st quarter. AQR Capital Management LLC now owns 63,871 shares of the industrial products company's stock valued at $2,238,000 after acquiring an additional 2,040 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Proto Labs by 7,380.0% in the 1st quarter. NewEdge Advisors LLC now owns 748 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 738 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Proto Labs by 68.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,756 shares of the industrial products company's stock valued at $871,000 after acquiring an additional 8,864 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Proto Labs during the 2nd quarter valued at about $480,000. Institutional investors own 84.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Needham & Company LLC upgraded Proto Labs from a "hold" rating to a "buy" rating and set a $87.00 price objective for the company in a research report on Monday, August 3rd. Benchmark lifted their target price on shares of Proto Labs from $70.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Wall Street Zen lowered shares of Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Weiss Ratings cut shares of Proto Labs from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 18th. Finally, Zacks Research raised shares of Proto Labs from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $89.00.

Proto Labs Stock Performance

PRLB opened at $78.19 on Wednesday. Proto Labs, Inc. has a 52-week low of $45.10 and a 52-week high of $93.00. The stock has a market capitalization of $1.87 billion, a PE ratio of 62.55 and a beta of 1.42. The stock's 50 day moving average price is $80.37 and its 200-day moving average price is $71.19.

Proto Labs (NYSE:PRLB - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The industrial products company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. The company had revenue of $149.34 million during the quarter, compared to analyst estimates of $144.53 million. Proto Labs had a return on equity of 4.80% and a net margin of 5.44%.The firm's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. Proto Labs has set its Q3 2026 guidance at 0.560-0.640 EPS. Research analysts forecast that Proto Labs, Inc. will post 1.46 EPS for the current fiscal year.

About Proto Labs

Proto Labs, Inc is a digital manufacturing company that offers on-demand production services for custom parts and prototypes. Utilizing technologies such as 3D printing (additive manufacturing), CNC machining and injection molding, the company transforms digital CAD designs into functional parts on accelerated timelines. Its platform-driven process combines automated quoting, rapid tool generation and manufacturing execution to serve product developers, engineers and small- to medium-sized production runs.

Founded in 1999 by Larry Lukis, Proto Labs has championed the application of digital workflows to traditional manufacturing methods.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source