Bank of America Corp DE Reduces Stake in Proto Labs, Inc. (PRLB)
Bank of America Corp DE lowered its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.6% during the first quarter, Holdings Channel reports. The firm owned 242,463 shares of the industrial products company’s stock after selling 22,728 shares during the period. Bank of America Corp DE’s holdings in Proto Labs were worth $12,389,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PRLB. Russell Investments Group Ltd. acquired a new position in shares of Proto Labs during the fourth quarter worth about $676,000. Comerica Bank raised its position in shares of Proto Labs by 4.5% in the fourth quarter. Comerica Bank now owns 25,949 shares of the industrial products company’s stock worth $1,390,000 after buying an additional 1,121 shares during the period. State Street Corp raised its position in shares of Proto Labs by 6.1% in the fourth quarter. State Street Corp now owns 517,066 shares of the industrial products company’s stock worth $26,552,000 after buying an additional 29,689 shares during the period. Norges Bank acquired a new position in shares of Proto Labs during the fourth quarter worth about $24,400,000. Finally, Perigon Wealth Management LLC raised its position in shares of Proto Labs by 3.3% in the fourth quarter. Perigon Wealth Management LLC now owns 5,408 shares of the industrial products company’s stock worth $290,000 after buying an additional 175 shares during the period.
Proto Labs, Inc. (NYSE:PRLB) opened at 71.05 on Tuesday. Proto Labs, Inc. has a one year low of $43.10 and a one year high of $71.30. The company has a 50-day moving average price of $65.08 and a 200-day moving average price of $56.23. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 42.54 and a beta of 0.93.
Proto Labs (NYSE:PRLB) last posted its earnings results on Thursday, April 27th. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.11. Proto Labs had a net margin of 14.48% and a return on equity of 11.84%. The company had revenue of $80.20 million during the quarter, compared to analysts’ expectations of $75.05 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. Proto Labs’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts anticipate that Proto Labs, Inc. will post $2.04 EPS for the current year.
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A number of equities analysts recently issued reports on the company. Dougherty & Co raised Proto Labs from a “sell” rating to a “neutral” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered Proto Labs from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, TheStreet raised Proto Labs from a “c+” rating to a “b-” rating in a report on Friday, May 5th.
In related news, Director Rainer Gawlick sold 833 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $64.05, for a total value of $53,353.65. Following the completion of the sale, the director now owns 6,258 shares of the company’s stock, valued at $400,824.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John B. Tumelty sold 11,896 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $61.72, for a total transaction of $734,221.12. Following the completion of the sale, the director now directly owns 4,299 shares of the company’s stock, valued at approximately $265,334.28. The disclosure for this sale can be found here. Insiders own 7.78% of the company’s stock.
About Proto Labs
Proto Labs, Inc is an e-commerce driven digital manufacturer of on-demand three dimensional (3D) printed, computer numerical control (CNC) machined and injection-molded custom parts for prototyping and short-run production. The Company’s geographic segments include the United States, Europe and Japan.
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