Icon Advisers Inc. Co. Decreases Stock Position in 3D Systems Corporation $DDD

Icon Advisers Inc. Co. lessened its holdings in 3D Systems Corporation (NYSE:DDD) by 73.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 375,000 shares of the 3D printing company’s stock after selling 1,025,000 shares during the quarter. Icon Advisers Inc. Co. owned 0.26% of 3D Systems worth $705,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. J. Derek Lewis & Associates Inc. purchased a new position in shares of 3D Systems in the 4th quarter valued at approximately $27,000. Prudential Financial Inc. boosted its stake in 3D Systems by 74.8% in the 2nd quarter. Prudential Financial Inc. now owns 18,427 shares of the 3D printing company’s stock worth $28,000 after purchasing an additional 7,887 shares in the last quarter. NewEdge Advisors LLC grew its position in 3D Systems by 5,139.4% during the 1st quarter. NewEdge Advisors LLC now owns 13,151 shares of the 3D printing company’s stock worth $28,000 after purchasing an additional 12,900 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in 3D Systems during the 4th quarter worth approximately $36,000. Finally, CIBC Bancorp USA Inc. acquired a new position in 3D Systems during the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.

3D Systems Trading Down 5.0%

3D Systems stock opened at $2.64 on Thursday. The stock has a 50-day moving average price of $3.07 and a 200 day moving average price of $2.53. The company has a market capitalization of $387.95 million, a price-to-earnings ratio of 10.56 and a beta of 2.69. 3D Systems Corporation has a 52 week low of $1.57 and a 52 week high of $4.12. The company has a quick ratio of 1.73, a current ratio of 2.76 and a debt-to-equity ratio of 0.37.

3D Systems (NYSE:DDD) last issued its quarterly earnings results on Monday, May 11th. The 3D printing company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08. 3D Systems had a net margin of 16.10% and a negative return on equity of 19.64%. The company had revenue of $95.50 million for the quarter, compared to the consensus estimate of $92.39 million. Sell-side analysts anticipate that 3D Systems Corporation will post -0.31 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DDD shares. Weiss Ratings upgraded shares of 3D Systems from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $5.00 target price on shares of 3D Systems in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 3D Systems currently has an average rating of “Hold” and an average target price of $5.00.

3D Systems Company Profile

3D Systems, founded in 1986 by stereolithography pioneer Chuck Hull, is a leading provider of additive manufacturing solutions. Headquartered in Rock Hill, South Carolina, the company develops and sells a broad range of 3D printers, materials, software, and on-demand manufacturing services. Its core technologies include stereolithography (SLA), selective laser sintering (SLS), direct metal printing (DMP), and multi-jet printing (MJP), enabling customers to build prototypes, production parts, and complex geometries across a variety of industries.

The company’s hardware portfolio spans desktop to production-scale systems designed for applications in aerospace, automotive, healthcare, consumer products, and education.