Jupiter Asset Management Ltd. Increases Holdings in Proto Labs, Inc. (NYSE:PRLB)

Jupiter Asset Management Ltd. lifted its position in Proto Labs, Inc. (NYSE:PRLB) by 6.9% in the fourth quarter, Holdings Channel reports. The firm owned 187,911 shares of the industrial products company’s stock after buying an additional 12,146 shares during the period. Jupiter Asset Management Ltd.’s holdings in Proto Labs were worth $7,345,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PRLB. GSA Capital Partners LLP bought a new stake in Proto Labs during the 3rd quarter valued at $524,000. KBC Group NV boosted its position in Proto Labs by 69.3% during the 3rd quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 631 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Proto Labs by 72.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock valued at $131,000 after acquiring an additional 1,873 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Proto Labs by 217.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,403 shares of the industrial products company’s stock valued at $2,009,000 after acquiring an additional 46,866 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Proto Labs during the 3rd quarter valued at $232,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Wall Street Analysts Forecast Growth

PRLB has been the topic of several recent research reports. Cantor Fitzgerald increased their target price on Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. StockNews.com raised Proto Labs from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Proto Labs currently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

Proto Labs Price Performance

Proto Labs stock opened at $35.75 on Friday. The stock has a market capitalization of $866.21 million, a price-to-earnings ratio of 54.99 and a beta of 1.45. Proto Labs, Inc. has a 1-year low of $25.75 and a 1-year high of $46.73. The business has a fifty day moving average price of $40.25 and a 200-day moving average price of $36.36.

Proto Labs declared that its Board of Directors has initiated a share buyback program on Friday, February 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the industrial products company to reacquire up to 9.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is 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.