AIMZ Investment Advisors LLC Sells 3,900 Shares of Proto Labs, Inc. (NYSE:PRLB)

AIMZ Investment Advisors LLC trimmed its holdings in Proto Labs, Inc. (NYSE:PRLB) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,323 shares of the industrial products company’s stock after selling 3,900 shares during the period. AIMZ Investment Advisors LLC owned 0.17% of Proto Labs worth $1,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in Proto Labs in the third quarter valued at about $524,000. KBC Group NV raised its position 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 worth $45,000 after acquiring an additional 631 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Proto Labs by 72.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock valued at $131,000 after purchasing an additional 1,873 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $2,009,000 after acquiring an additional 46,866 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Proto Labs in the third quarter worth approximately $232,000. 84.54% of the stock is currently owned by institutional investors.

Proto Labs Price Performance

PRLB opened at $39.41 on Friday. Proto Labs, Inc. has a fifty-two week low of $25.75 and a fifty-two week high of $46.73. The company’s 50-day moving average is $40.56 and its 200 day moving average is $35.79. The firm has a market capitalization of $955.00 million, a P/E ratio of 60.63 and a beta of 1.45.

Proto Labs declared that its board has initiated a stock repurchase plan on Friday, February 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 9.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their price objective on shares of Proto Labs from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Craig Hallum boosted their target price on shares of Proto Labs from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.67.

About Proto Labs

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.