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Aug 22, 2023

Bank of New York Mellon Corp Has $14.73 Million Stock Position in Proto Labs, Inc. (NYSE:PRLB)

Bank of New York Mellon Corp increased its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 78.8% in the first quarter, according to the company in its most recent Form 13F filing with

Bank of New York Mellon Corp increased its stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) by 78.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,311 shares of the industrial products company's stock after purchasing an additional 195,749 shares during the period. Bank of New York Mellon Corp owned approximately 1.70% of Proto Labs worth $14,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRLB. Russell Investments Group Ltd. bought a new position in Proto Labs during the first quarter worth about $1,816,000. New York Life Investment Management LLC acquired a new position in Proto Labs during the first quarter valued at approximately $499,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Proto Labs by 51.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,279 shares of the industrial products company's stock valued at $175,000 after purchasing an additional 1,788 shares in the last quarter. Barclays PLC raised its holdings in Proto Labs by 34.0% in the first quarter. Barclays PLC now owns 17,695 shares of the industrial products company's stock worth $586,000 after purchasing an additional 4,486 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Proto Labs in the 1st quarter valued at $412,000. Institutional investors own 83.97% of the company's stock.

Shares of Proto Labs stock opened at $29.43 on Thursday. The firm has a market cap of $767.83 million, a price-to-earnings ratio of -7.34 and a beta of 1.20. The stock's 50-day moving average is $32.24 and its 200-day moving average is $32.03. Proto Labs, Inc. has a one year low of $22.04 and a one year high of $40.93.

Proto Labs (NYSE:PRLB - Get Free Report) last released its earnings results on Friday, August 4th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $122.30 million for the quarter, compared to analysts' expectations of $123.88 million. Proto Labs had a negative return on equity of 15.15% and a negative net margin of 22.42%. The business's quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 EPS. On average, equities analysts expect that Proto Labs, Inc. will post 0.28 EPS for the current year.

Several analysts recently commented on PRLB shares. StockNews.com began coverage on Proto Labs in a research note on Thursday, August 17th. They set a "buy" rating on the stock. Lake Street Capital lifted their price objective on Proto Labs from $41.00 to $42.00 and gave the company a "buy" rating in a report on Monday, August 7th. Finally, Craig Hallum raised Proto Labs from a "sell" rating to a "hold" rating and increased their target price for the stock from $26.00 to $28.00 in a research note on Friday, August 4th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Proto Labs has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Read Our Latest Stock Report on PRLB

Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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