Federated Hermes Inc. Has $827,000 Position in Proto Labs, Inc. (NYSE:PRLB)

Federated Hermes Inc. lifted its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,762 shares of the industrial products company’s stock after purchasing an additional 2,141 shares during the quarter. Federated Hermes Inc. owned 0.11% of Proto Labs worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Proto Labs during the fourth quarter worth $11,382,000. Assenagon Asset Management S.A. bought a new stake in Proto Labs during the 2nd quarter worth $7,535,000. Jupiter Asset Management Ltd. increased its holdings in Proto Labs by 89.3% in the 1st quarter. Jupiter Asset Management Ltd. now owns 147,011 shares of the industrial products company’s stock worth $5,256,000 after purchasing an additional 69,347 shares in the last quarter. Vanguard Group Inc. raised its position in Proto Labs by 2.0% in the first quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock valued at $106,541,000 after purchasing an additional 57,894 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Proto Labs during the first quarter valued at about $1,560,000. 84.54% of the stock is currently owned by institutional investors and hedge funds.

Proto Labs Stock Performance

NYSE:PRLB opened at $29.36 on Monday. Proto Labs, Inc. has a fifty-two week low of $23.01 and a fifty-two week high of $41.87. The company has a 50 day simple moving average of $30.66 and a two-hundred day simple moving average of $31.66. The company has a market capitalization of $743.28 million, a PE ratio of 38.13 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings data on Friday, August 2nd. The industrial products company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.03. The company had revenue of $125.60 million during the quarter, compared to analysts’ expectations of $126.25 million. Proto Labs had a net margin of 4.86% and a return on equity of 3.60%. Proto Labs’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. Research analysts predict that Proto Labs, Inc. will post 0.7 EPS for the current year.

Insider Transactions at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $28.68 per share, with a total value of $99,806.40. Following the purchase, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at $2,319,581.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRLB. Benchmark reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Proto Labs in a research note on Wednesday, May 29th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $44.00 price target on shares of Proto Labs in a report on Tuesday, July 30th. Finally, StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Proto Labs presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

About Proto Labs

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.