Mackenzie Financial Corp Buys New Holdings in Proto Labs, Inc. (NYSE:PRLB)

Mackenzie Financial Corp purchased a new position in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,282 shares of the industrial products company's stock, valued at approximately $519,000. Mackenzie Financial Corp owned approximately 0.05% of Proto Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC increased its position in Proto Labs by 544.3% during the fourth quarter. Empowered Funds LLC now owns 95,359 shares of the industrial products company's stock worth $3,728,000 after buying an additional 80,558 shares in the last quarter. Aquatic Capital Management LLC increased its position in Proto Labs by 18.2% during the fourth quarter. Aquatic Capital Management LLC now owns 8,981 shares of the industrial products company's stock worth $351,000 after buying an additional 1,381 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in Proto Labs during the fourth quarter worth $5,972,000. Bank of America Corp DE increased its position in Proto Labs by 109.1% during the fourth quarter. Bank of America Corp DE now owns 54,447 shares of the industrial products company's stock worth $2,128,000 after buying an additional 28,407 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Proto Labs by 348.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 212,914 shares of the industrial products company's stock worth $8,323,000 after buying an additional 165,396 shares in the last quarter. Hedge funds and other institutional investors own 84.54% of the company's stock.

Analysts Set New Price Targets

PRLB has been the subject of several recent research reports. Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research report on Friday, February 7th. Wall Street Zen raised Proto Labs from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald lifted their price objective on Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, February 10th.

Proto Labs Stock Up 2.6%

Shares of NYSE:PRLB traded up $0.97 during midday trading on Friday, reaching $38.28. The company's stock had a trading volume of 235,552 shares, compared to its average volume of 240,259. The firm has a market cap of $909.95 million, a price-to-earnings ratio of 58.89 and a beta of 1.31. Proto Labs, Inc. has a 1 year low of $25.76 and a 1 year high of $46.73. The business has a 50 day moving average price of $36.51 and a 200 day moving average price of $38.83.

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

Proto Labs declared that its Board of Directors has authorized a share buyback plan on Friday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 9.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are 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.