Meros Investment Management LP lifted its position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,240 shares of the medical instruments supplier's stock after acquiring an additional 4,941 shares during the quarter. Mesa Laboratories accounts for approximately 2.0% of Meros Investment Management LP's holdings, making the stock its 24th largest position. Meros Investment Management LP owned 0.61% of Mesa Laboratories worth $4,317,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in MLAB. Price T Rowe Associates Inc. MD increased its stake in Mesa Laboratories by 6.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier's stock valued at $316,000 after purchasing an additional 175 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Mesa Laboratories during the 2nd quarter valued at about $319,000. Raymond James & Associates raised its stake in Mesa Laboratories by 8.4% during the second quarter. Raymond James & Associates now owns 80,739 shares of the medical instruments supplier's stock worth $7,006,000 after acquiring an additional 6,283 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Mesa Laboratories by 4.0% in the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier's stock worth $226,000 after acquiring an additional 100 shares during the last quarter. Finally, Kings Path Partners LLC acquired a new position in Mesa Laboratories in the second quarter valued at approximately $588,000. 90.60% of the stock is currently owned by institutional investors.
Mesa Laboratories Stock Performance
Shares of MLAB traded down $0.08 during mid-day trading on Wednesday, reaching $128.78. 30,222 shares of the company's stock traded hands, compared to its average volume of 41,213. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. The business's 50-day moving average price is $120.06 and its 200-day moving average price is $114.90. The stock has a market capitalization of $699.28 million, a P/E ratio of -2.83 and a beta of 0.86. Mesa Laboratories, Inc. has a 12 month low of $83.68 and a 12 month high of $141.17.
Mesa Laboratories Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.50%. Mesa Laboratories's dividend payout ratio (DPR) is presently -1.40%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on MLAB shares. Evercore ISI increased their price target on Mesa Laboratories from $120.00 to $160.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 1st. Wells Fargo & Company started coverage on Mesa Laboratories in a research report on Tuesday, August 27th. They issued an "underweight" rating and a $120.00 target price on the stock. Finally, StockNews.com downgraded shares of Mesa Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th.
View Our Latest Stock Analysis on MLAB
Insider Transactions at Mesa Laboratories
In other news, CEO Gary M. Owens sold 2,518 shares of the company's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the sale, the chief executive officer now directly owns 45,888 shares of the company's stock, valued at approximately $5,213,794.56. This represents a 5.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brian David Archbold sold 1,499 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The disclosure for this sale can be found here. Company insiders own 4.40% of the company's stock.
Mesa Laboratories Profile
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Free Report)
Mesa Laboratories, Inc develops, designs, manufactures, sells, and services life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. The Sterilization and Disinfection Control segment offers biological, chemical, and cleaning indicators, used to assess the effectiveness of sterilization decontamination, disinfection, and cleaning processes in the pharmaceutical, medical device, and healthcare industries.
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