Irenic Capital Management LP acquired a new position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,000 shares of the medical instruments supplier’s stock, valued at approximately $1,962,000. Irenic Capital Management LP owned approximately 0.45% of Mesa Laboratories as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MLAB. Northwestern Mutual Wealth Management Co. increased its holdings in Mesa Laboratories by 5,366.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 322 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Mesa Laboratories during the 4th quarter worth approximately $27,000. Kestra Advisory Services LLC bought a new stake in Mesa Laboratories during the 4th quarter worth approximately $55,000. BNP Paribas Financial Markets increased its holdings in Mesa Laboratories by 30.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,029 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 243 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Mesa Laboratories by 432.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier’s stock worth $79,000 after purchasing an additional 684 shares in the last quarter. 90.60% of the stock is owned by institutional investors.
Insider Activity at Mesa Laboratories
In related news, CFO John Sakys sold 1,223 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $101.27, for a total value of $123,853.21. Following the transaction, the chief financial officer owned 16,538 shares in the company, valued at approximately $1,674,803.26. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian David Archbold sold 1,151 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $101.27, for a total value of $116,561.77. Following the completion of the transaction, the senior vice president owned 3,710 shares in the company, valued at approximately $375,711.70. The trade was a 23.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,492 shares of company stock valued at $252,365. 4.90% of the stock is currently owned by corporate insiders.
Mesa Laboratories Stock Performance
Mesa Laboratories (NASDAQ:MLAB – Get Free Report) last released its earnings results on Wednesday, May 27th. The medical instruments supplier reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.25). The business had revenue of $63.72 million during the quarter, compared to the consensus estimate of $65.21 million. Mesa Laboratories had a net margin of 2.69% and a return on equity of 20.96%. During the same period in the prior year, the company earned ($1.31) earnings per share.
Mesa Laboratories Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.7%. Mesa Laboratories’s dividend payout ratio is currently 53.33%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered Mesa Laboratories from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $94.00.
Check Out Our Latest Stock Report on MLAB
Mesa Laboratories Company Profile
Mesa Laboratories, Inc (NASDAQ: MLAB) is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.
The company’s product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.
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