State Street Corp Purchases 18,128 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

State Street Corp raised its position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,148 shares of the medical instruments supplier's stock after acquiring an additional 18,128 shares during the quarter. State Street Corp owned approximately 3.94% of Mesa Laboratories worth $27,809,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MLAB. Canada Pension Plan Investment Board acquired a new stake in Mesa Laboratories in the 2nd quarter valued at about $26,000. FMR LLC raised its stake in Mesa Laboratories by 34.1% in the third quarter. FMR LLC now owns 393 shares of the medical instruments supplier's stock valued at $51,000 after buying an additional 100 shares during the period. Quantbot Technologies LP bought a new stake in Mesa Laboratories in the third quarter valued at approximately $70,000. Sanctuary Advisors LLC acquired a new stake in shares of Mesa Laboratories in the second quarter valued at approximately $183,000. Finally, Berry Wealth Group LP bought a new position in shares of Mesa Laboratories during the 3rd quarter worth approximately $204,000. Institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MLAB shares. Wells Fargo & Company started coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an "underweight" rating and a $120.00 target price for the company. StockNews.com cut Mesa Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Finally, Evercore ISI lifted their price target on Mesa Laboratories from $120.00 to $160.00 and gave the stock an "outperform" rating in a report on Tuesday, October 1st.

Mesa Laboratories Stock Performance

NASDAQ:MLAB traded up $3.32 during mid-day trading on Monday, reaching $135.40. 53,744 shares of the company's stock were exchanged, compared to its average volume of 41,695. Mesa Laboratories, Inc. has a one year low of $83.68 and a one year high of $141.17. 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 fifty day simple moving average is $120.61 and its two-hundred day simple moving average is $116.49. The firm has a market capitalization of $735.36 million, a PE ratio of -2.97 and a beta of 0.86.

Mesa Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.47%. Mesa Laboratories's dividend payout ratio is presently -1.40%.

Insider Activity

In related news, CEO Gary M. Owens sold 2,518 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $113.62, for a total value of $286,095.16. Following the transaction, the chief executive officer now owns 45,888 shares in the company, valued at approximately $5,213,794.56. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.40% of the stock is owned by company insiders.

Mesa Laboratories Company Profile

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.