Bank of New York Mellon Corp lifted its stake in 3D Systems Co. (NYSE:DDD) by 5.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,313,379 shares of the 3D printing company’s stock after buying an additional 71,725 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.15% of 3D Systems worth $18,138,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of 3D Systems by 1.6% in the first quarter. Principal Financial Group Inc. now owns 493,488 shares of the 3D printing company’s stock valued at $5,719,000 after buying an additional 7,565 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of 3D Systems in the second quarter valued at approximately $365,000. Crossmark Global Holdings Inc. acquired a new position in shares of 3D Systems in the second quarter valued at approximately $221,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of 3D Systems by 25.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 107,265 shares of the 3D printing company’s stock valued at $1,481,000 after buying an additional 21,604 shares during the period. Finally, Comerica Bank boosted its holdings in shares of 3D Systems by 35.8% in the second quarter. Comerica Bank now owns 120,256 shares of the 3D printing company’s stock valued at $1,817,000 after buying an additional 31,693 shares during the period. Hedge funds and other institutional investors own 70.96% of the company’s stock.
Shares of DDD stock opened at $12.38 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.50 and a current ratio of 2.29. The firm has a market capitalization of $1.41 billion, a PE ratio of -21.72 and a beta of 1.97. 3D Systems Co. has a 12 month low of $8.53 and a 12 month high of $21.78.
3D Systems (NYSE:DDD) last announced its quarterly earnings data on Tuesday, October 30th. The 3D printing company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). The business had revenue of $164.50 million during the quarter, compared to the consensus estimate of $171.82 million. 3D Systems had a negative return on equity of 5.12% and a negative net margin of 7.53%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) EPS. Analysts anticipate that 3D Systems Co. will post -0.13 earnings per share for the current fiscal year.
In other news, EVP Andrew Martin Johnson sold 4,200 shares of the business’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $17.80, for a total value of $74,760.00. Following the sale, the executive vice president now owns 208,825 shares of the company’s stock, valued at $3,717,085. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.
Several research firms have recently weighed in on DDD. Zacks Investment Research upgraded shares of 3D Systems from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, August 13th. Canaccord Genuity reissued a “hold” rating and issued a $13.00 price objective (up previously from $11.00) on shares of 3D Systems in a research report on Wednesday, August 8th. Loop Capital cut their price objective on shares of 3D Systems to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. ValuEngine raised shares of 3D Systems from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. Finally, Piper Jaffray Companies raised shares of 3D Systems from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $17.00 in a research report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. 3D Systems has an average rating of “Hold” and a consensus price target of $13.74.
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About 3D Systems
3D Systems Corporation, through its subsidiaries, provides three-dimensional (3D) printing products and services worldwide. The company offers 3D printers, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, and color jet printers that transform data input generated by 3D design software, CAD software, or other 3D design tools into printed parts under the Accura, DuraForm, LaserForm, CastForm, and VisiJet brand names.
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