Bank of New York Mellon Corp Reduces Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Bank of New York Mellon Corp decreased its holdings in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,288 shares of the industrial products company's stock after selling 8,967 shares during the quarter. Bank of New York Mellon Corp owned about 0.65% of Proto Labs worth $5,441,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Proto Labs in the 4th quarter worth $205,000. American Century Companies Inc. raised its stake in shares of Proto Labs by 0.8% during the 4th quarter. American Century Companies Inc. now owns 52,579 shares of the industrial products company's stock valued at $2,055,000 after buying an additional 404 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Proto Labs during the 4th quarter valued at about $192,000. LPL Financial LLC purchased a new position in shares of Proto Labs during the 4th quarter valued at about $210,000. Finally, Norges Bank purchased a new position in shares of Proto Labs in the 4th quarter valued at about $1,947,000. Institutional investors and hedge funds own 84.54% of the company's stock.

Proto Labs Stock Performance

Shares of Proto Labs stock traded up $0.56 on Monday, hitting $39.67. The company's stock had a trading volume of 151,752 shares, compared to its average volume of 152,614. Proto Labs, Inc. has a 1 year low of $25.75 and a 1 year high of $46.73. The firm has a fifty day moving average price of $39.07 and a 200-day moving average price of $38.49. The company has a market capitalization of $942.96 million, a price-to-earnings ratio of 66.12 and a beta of 1.33.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.29 by $0.04. Proto Labs had a return on equity of 2.22% and a net margin of 2.99%. The company had revenue of $126.21 million during the quarter, compared to analyst estimates of $123.71 million. During the same period in the previous year, the business earned $0.40 EPS. Proto Labs's quarterly revenue was down 1.3% on a year-over-year basis. As a group, analysts forecast that Proto Labs, Inc. will post 0.81 EPS for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th.

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.