Northern Trust Corp Increases Stake in Proto Labs, Inc. (NYSE:PRLB)

Northern Trust Corp increased its position in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,639 shares of the industrial products company's stock after purchasing an additional 9,314 shares during the period. Northern Trust Corp owned approximately 1.15% of Proto Labs worth $11,009,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PRLB. Sterling Capital Management LLC boosted its stake in Proto Labs by 764.1% during the 4th quarter. Sterling Capital Management LLC now owns 795 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 703 shares during the last quarter. Quarry LP boosted its position in shares of Proto Labs by 175.7% during 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 last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Proto Labs during the fourth quarter valued at $192,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Proto Labs in the 4th quarter worth about $205,000. Finally, LPL Financial LLC purchased a new position in Proto Labs in the 4th quarter worth about $210,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research report on Friday, February 7th. StockNews.com upgraded Proto Labs from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald lifted their price objective on Proto Labs from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.67.

Proto Labs Stock Performance

Shares of NYSE PRLB traded down $0.79 during midday trading on Thursday, reaching $38.79. The stock had a trading volume of 14,791 shares, compared to its average volume of 233,707. The company has a market capitalization of $921.96 million, a price-to-earnings ratio of 59.67 and a beta of 1.37. Proto Labs, Inc. has a 12-month low of $25.76 and a 12-month high of $46.73. The stock has a 50-day moving average of $36.25 and a 200-day moving average of $38.86.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $126.21 million for the quarter, compared to analysts' expectations of $123.71 million. Proto Labs had a return on equity of 2.44% and a net margin of 3.31%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Proto Labs, Inc. will post 0.81 EPS for the current fiscal year.

Proto Labs declared that its board has approved a stock repurchase program on Friday, February 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 9.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board 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.