Rhumbline Advisers Buys 303 Shares of Proto Labs, Inc. (NYSE:PRLB)

Rhumbline Advisers raised its stake in Proto Labs, Inc. (NYSE:PRLB) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,783 shares of the industrial products company’s stock after acquiring an additional 303 shares during the quarter. Rhumbline Advisers owned about 0.32% of Proto Labs worth $3,080,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Tidal Investments LLC grew its position in shares of Proto Labs by 1.7% in the third quarter. Tidal Investments LLC now owns 30,156 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 494 shares during the last quarter. KBC Group NV boosted its stake in Proto Labs by 69.3% in the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 631 shares during the period. Franklin Resources Inc. grew its holdings in Proto Labs by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 12,989 shares of the industrial products company’s stock valued at $370,000 after buying an additional 980 shares in the last quarter. Diversified Trust Co increased its position in Proto Labs by 13.9% during the 4th quarter. Diversified Trust Co now owns 9,236 shares of the industrial products company’s stock worth $361,000 after buying an additional 1,125 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Proto Labs by 6.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 20,164 shares of the industrial products company’s stock worth $788,000 after buying an additional 1,147 shares in the last quarter. 84.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cantor Fitzgerald upped their price target on shares of Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Craig Hallum increased their target price on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.67.

Proto Labs Price Performance

NYSE PRLB opened at $39.84 on Friday. The business has a fifty day moving average price of $40.55 and a two-hundred day moving average price of $35.92. The stock has a market capitalization of $965.32 million, a PE ratio of 61.29 and a beta of 1.45. Proto Labs, Inc. has a fifty-two week low of $25.75 and a fifty-two week high of $46.73.

Proto Labs announced that its Board of Directors has authorized a stock repurchase program on Friday, February 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 9.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership 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.