Connor Clark & Lunn Investment Management Ltd. Purchases 46,866 Shares of Proto Labs, Inc. (NYSE:PRLB)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Proto Labs, Inc. (NYSE:PRLB) by 217.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,403 shares of the industrial products company’s stock after buying an additional 46,866 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Proto Labs were worth $2,009,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PRLB. KBC Group NV lifted its holdings in shares of Proto Labs by 69.3% during the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 631 shares during the last quarter. Diversified Trust Co raised its stake in Proto Labs by 9.2% during the second quarter. Diversified Trust Co now owns 8,431 shares of the industrial products company’s stock valued at $260,000 after buying an additional 707 shares during the last quarter. American Century Companies Inc. boosted its holdings in Proto Labs by 1.9% in the second quarter. American Century Companies Inc. now owns 42,931 shares of the industrial products company’s stock worth $1,326,000 after acquiring an additional 812 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Proto Labs in the second quarter worth $37,000. Finally, Innealta Capital LLC bought a new position in shares of Proto Labs during the second quarter valued at $40,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Proto Labs

In other Proto Labs news, CEO Robert Bodor bought 3,480 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the transaction, the chief executive officer now owns 80,878 shares of the company’s stock, valued at $2,319,581.04. This represents a 4.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Proto Labs Stock Down 0.9 %

Shares of NYSE PRLB opened at $41.12 on Tuesday. The firm’s 50-day moving average price is $31.84 and its 200-day moving average price is $31.23. Proto Labs, Inc. has a 52-week low of $25.75 and a 52-week high of $42.66. The company has a market cap of $1.01 billion, a PE ratio of 43.74 and a beta of 1.32.

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

Proto Labs 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.