AIMZ Investment Advisors LLC Reduces Holdings in Proto Labs, Inc. (NYSE:PRLB)

AIMZ Investment Advisors LLC trimmed its stake in Proto Labs, Inc. (NYSE:PRLB) by 2.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 46,523 shares of the industrial products company’s stock after selling 950 shares during the period. AIMZ Investment Advisors LLC’s holdings in Proto Labs were worth $1,437,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Cornercap Investment Counsel Inc. purchased a new position in Proto Labs during the 2nd quarter worth $514,000. Jupiter Asset Management Ltd. grew its position in Proto Labs by 2.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 150,704 shares of the industrial products company’s stock worth $4,655,000 after purchasing an additional 3,693 shares during the last quarter. American Century Companies Inc. grew its position in Proto Labs by 1.9% during the 2nd quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock worth $1,326,000 after purchasing an additional 812 shares during the last quarter. Quest Partners LLC grew its position in Proto Labs by 146.5% during the 2nd quarter. Quest Partners LLC now owns 30,403 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 18,068 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Proto Labs during the 2nd quarter worth $40,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Stock Performance

PRLB stock opened at $29.18 on Thursday. Proto Labs, Inc. has a one year low of $23.01 and a one year high of $41.87. The company has a fifty day moving average of $30.84 and a 200-day moving average of $32.04. The stock has a market capitalization of $738.72 million, a PE ratio of 37.90 and a beta of 1.32.

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $44.00 price objective on shares of Proto Labs in a research report on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research note on Monday, August 5th. Benchmark restated a “buy” rating and issued a $45.00 target price on shares of Proto Labs in a research note on Wednesday, May 29th. 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Activity at Proto Labs

In related news, CEO Robert Bodor acquired 3,480 shares of Proto Labs stock in a transaction that occurred 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 completion of the purchase, the chief executive officer now directly owns 80,878 shares of the company’s stock, valued at $2,319,581.04. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Proto Labs 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.