Globeflex Capital L P acquired a new stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB – Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,581 shares of the medical instruments supplier’s stock, valued at approximately $1,153,000. Globeflex Capital L P owned approximately 0.21% of Mesa Laboratories as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Mesa Laboratories during the second quarter worth approximately $15,507,000. Bank of New York Mellon Corp acquired a new position in shares of Mesa Laboratories during the 2nd quarter valued at $4,540,000. Wasatch Advisors LP increased its position in shares of Mesa Laboratories by 125.8% during the 2nd quarter. Wasatch Advisors LP now owns 115,668 shares of the medical instruments supplier’s stock valued at $11,515,000 after purchasing an additional 64,435 shares during the period. Bank of America Corp DE raised its stake in shares of Mesa Laboratories by 5.9% in the 1st quarter. Bank of America Corp DE now owns 57,871 shares of the medical instruments supplier’s stock worth $5,117,000 after buying an additional 3,207 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Mesa Laboratories by 143.3% in the 1st quarter. Royal Bank of Canada now owns 13,275 shares of the medical instruments supplier’s stock worth $1,173,000 after buying an additional 7,818 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.
Mesa Laboratories Price Performance
Shares of NASDAQ:MLAB opened at $124.32 on Tuesday. The business has a 50 day moving average price of $101.87 and a 200 day moving average price of $97.61. Mesa Laboratories, Inc. has a twelve month low of $58.83 and a twelve month high of $125.30. The company has a market cap of $696.19 million, a price-to-earnings ratio of 148.00 and a beta of 0.92. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73.
Mesa Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.5%. Mesa Laboratories’s payout ratio is 76.19%.
Analyst Ratings Changes
Several research analysts have issued reports on MLAB shares. Wall Street Zen lowered shares of Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their target price on Mesa Laboratories from $94.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Mesa Laboratories has an average rating of “Hold” and a consensus target price of $110.00.
Read Our Latest Stock Analysis on Mesa Laboratories
Insiders Place Their Bets
In other news, CEO Siddhartha Kadia bought 7,093 shares of the stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $112.80 per share, with a total value of $800,090.40. Following the completion of the purchase, the chief executive officer owned 7,093 shares of the company’s stock, valued at approximately $800,090.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO John Sakys sold 2,827 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $89.50, for a total value of $253,016.50. Following the completion of the sale, the chief financial officer owned 19,785 shares of the company’s stock, valued at $1,770,757.50. This trade represents a 12.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,370 shares of company stock valued at $1,570,213 in the last ninety days. 2.80% of the stock is currently owned by insiders.
Mesa Laboratories 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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