Bank of Montreal Can Buys New Position in Proto Labs, Inc. (NYSE:PRLB)

Bank of Montreal Can bought a new position in shares of Proto Labs, Inc. (NYSE:PRLB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,358 shares of the industrial products company’s stock, valued at approximately $629,000. Bank of Montreal Can owned approximately 0.08% of Proto Labs at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in Proto Labs in the second quarter worth about $37,000. Innealta Capital LLC acquired a new stake in shares of Proto Labs in the second quarter valued at $40,000. Headlands Technologies LLC grew its stake in shares of Proto Labs by 224.0% in the 1st quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,295 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Proto Labs in the second quarter valued at $80,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Proto Labs during the first quarter valued at $110,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Stock Performance

Shares of PRLB opened at $28.18 on Wednesday. The company has a 50-day simple moving average of $29.44 and a 200-day simple moving average of $31.10. Proto Labs, Inc. has a 52 week low of $23.01 and a 52 week high of $41.87. The firm has a market capitalization of $713.40 million, a P/E ratio of 36.60 and a beta of 1.31.

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

Insider Transactions at Proto Labs

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the transaction, the chief executive officer now owns 80,878 shares in the company, valued at $2,319,581.04. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PRLB has been the topic of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $44.00 target price on shares of Proto Labs in a research report on Tuesday, July 30th. Finally, StockNews.com cut Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.00.

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.