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

Icon Advisers Inc. Co. lessened its stake in 3D Systems Corporation (NYSE:DDD) by 73.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 375,000 shares of the 3D printing company’s stock after selling 1,025,000 shares during the quarter. Icon Advisers Inc. Co.’s holdings in 3D Systems were worth $705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in 3D Systems by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,881,311 shares of the 3D printing company’s stock worth $3,537,000 after acquiring an additional 320,427 shares during the period. Hsbc Holdings PLC purchased a new position in 3D Systems during the first quarter valued at approximately $120,000. PFG Investments LLC lifted its holdings in 3D Systems by 91.4% in the first quarter. PFG Investments LLC now owns 159,175 shares of the 3D printing company’s stock valued at $299,000 after acquiring an additional 75,990 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in 3D Systems by 130.8% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 30,000 shares of the 3D printing company’s stock worth $56,000 after purchasing an additional 17,000 shares in the last quarter. Finally, J. Derek Lewis & Associates Inc. purchased a new stake in 3D Systems in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 64.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 target price on shares of 3D Systems in a report on Wednesday, May 13th. 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. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, 3D Systems currently has an average rating of “Hold” and an average price target of $5.00.

3D Systems Price Performance

Shares of 3D Systems stock opened at $2.64 on Thursday. The firm has a market cap of $387.95 million, a PE ratio of 10.56 and a beta of 2.69. 3D Systems Corporation has a twelve month low of $1.57 and a twelve month 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. The business has a 50-day moving average price of $3.07 and a 200 day moving average price of $2.53.

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

About 3D Systems

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.