Metropolitan Life Insurance Co. NY Trims Holdings in 3D Systems Co. (DDD)
Metropolitan Life Insurance Co. NY cut its stake in 3D Systems Co. (NYSE:DDD) by 40.0% in the second quarter, HoldingsChannel.com reports. The firm owned 37,858 shares of the 3D printing company’s stock after selling 25,213 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in 3D Systems were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of DDD. Private Advisor Group LLC bought a new stake in 3D Systems in the 1st quarter valued at $147,000. CIBC Asset Management Inc bought a new stake in 3D Systems in the 2nd quarter valued at $205,000. Federated Investors Inc. PA boosted its holdings in 3D Systems by 66.7% in the 1st quarter. Federated Investors Inc. PA now owns 18,207 shares of the 3D printing company’s stock valued at $211,000 after purchasing an additional 7,284 shares during the period. Crossmark Global Holdings Inc. bought a new stake in 3D Systems in the 2nd quarter valued at $221,000. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of 3D Systems by 56.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 23,298 shares of the 3D printing company’s stock worth $270,000 after acquiring an additional 8,386 shares during the period. 71.16% of the stock is owned by hedge funds and other institutional investors.
DDD has been the subject of a number of analyst reports. ValuEngine raised shares of 3D Systems from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $14.00 price objective on shares of 3D Systems in a report on Wednesday, August 8th. Zacks Investment Research raised shares of 3D Systems from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, August 13th. Canaccord Genuity reaffirmed a “hold” rating and set a $13.00 price objective (up from $11.00) on shares of 3D Systems in a report on Wednesday, August 8th. Finally, Loop Capital raised their price objective on shares of 3D Systems to $17.00 and gave the stock a “hold” rating in a report on Wednesday, August 8th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. 3D Systems presently has an average rating of “Hold” and an average price target of $13.49.
3D Systems (NYSE:DDD) last released its quarterly earnings data on Tuesday, August 7th. The 3D printing company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.12. The company had revenue of $176.57 million during the quarter, compared to the consensus estimate of $165.83 million. 3D Systems had a negative net margin of 11.54% and a negative return on equity of 9.22%. equities research analysts expect that 3D Systems Co. will post -0.13 EPS for the current year.
In related news, EVP Andrew Martin Johnson sold 5,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $19.01, for a total transaction of $95,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kevin Mcalea sold 20,000 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $21.21, for a total transaction of $424,200.00. Following the sale, the chief operating officer now owns 250,257 shares of the company’s stock, valued at approximately $5,307,950.97. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.
About 3D Systems
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
Further Reading: Earnings Per Share (EPS)
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