Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Proto Labs, Inc. (NYSE:PRLB)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 217.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,403 shares of the industrial products company’s stock after purchasing an additional 46,866 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Proto Labs worth $2,009,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in Proto Labs during the second quarter worth about $37,000. Innealta Capital LLC purchased a new position in shares of Proto Labs during the second quarter worth about $40,000. KBC Group NV increased its position in shares of Proto Labs by 69.3% in the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 631 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Proto Labs in the second quarter valued at approximately $80,000. Finally, Shell Asset Management Co. bought a new stake in Proto Labs during the first quarter valued at approximately $132,000. Institutional investors own 84.54% of the company’s stock.

Proto Labs Trading Down 0.9 %

PRLB opened at $41.12 on Tuesday. Proto Labs, Inc. has a 12 month low of $25.75 and a 12 month high of $42.66. The business’s 50-day moving average price is $31.84 and its 200-day moving average price is $31.23. The company has a market cap of $1.01 billion, a P/E ratio of 43.74 and a beta of 1.32.

Proto Labs (NYSE:PRLB) last announced its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.15. The business had revenue of $125.60 million for the quarter, compared to analysts’ expectations of $121.38 million. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. Equities research analysts forecast that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Proto Labs

In other Proto Labs news, CEO Robert Bodor bought 3,480 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the acquisition, the chief executive officer now directly owns 80,878 shares in the company, valued at $2,319,581.04. The trade was a 4.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of Proto Labs in a research report on Monday, November 4th. Finally, Craig Hallum boosted their target price on Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

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.