Hotchkis & Wiley Capital Management LLC Makes New Investment in Proto Labs, Inc. (NYSE:PRLB)

Hotchkis & Wiley Capital Management LLC purchased a new position in Proto Labs, Inc. (NYSE:PRLB) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 292,360 shares of the industrial products company’s stock, valued at approximately $8,587,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN grew its position in Proto Labs by 1.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,946,349 shares of the industrial products company’s stock worth $60,123,000 after buying an additional 36,510 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Proto Labs by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,110,566 shares of the industrial products company’s stock worth $34,305,000 after buying an additional 130,670 shares during the last quarter. Pacer Advisors Inc. grew its position in Proto Labs by 44,804.1% in the third quarter. Pacer Advisors Inc. now owns 573,874 shares of the industrial products company’s stock worth $16,855,000 after buying an additional 572,596 shares during the last quarter. Renaissance Technologies LLC grew its position in Proto Labs by 32.3% in the second quarter. Renaissance Technologies LLC now owns 435,823 shares of the industrial products company’s stock worth $13,463,000 after buying an additional 106,423 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Proto Labs by 22.9% in the third quarter. Assenagon Asset Management S.A. now owns 299,848 shares of the industrial products company’s stock worth $8,807,000 after buying an additional 55,932 shares during the last quarter. Institutional investors and hedge funds own 84.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PRLB. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a research note on Monday, November 4th. Craig Hallum raised their price objective on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. 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 stock has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Insider Buying and Selling

In other Proto Labs news, CEO Robert Bodor acquired 3,480 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the completion of the acquisition, the chief executive officer now owns 80,878 shares of the company’s stock, valued at approximately $2,319,581.04. This trade represents a 4.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Proto Labs Stock Up 2.2 %

Shares of NYSE:PRLB opened at $42.20 on Thursday. The firm has a fifty day moving average of $33.23 and a two-hundred day moving average of $31.60. The firm has a market capitalization of $1.03 billion, a P/E ratio of 44.89 and a beta of 1.45. Proto Labs, Inc. has a 12-month low of $25.75 and a 12-month high of $42.66.

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, beating analysts’ consensus estimates of $0.32 by $0.15. The company had revenue of $125.60 million during the quarter, compared to analyst estimates of $121.38 million. Proto Labs had a net margin of 4.76% and a return on equity of 3.49%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts expect that Proto Labs, Inc. will post 0.84 earnings per share for the current fiscal year.

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.