Teton Advisors Inc. lessened its holdings in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,000 shares of the medical instruments supplier’s stock after selling 600 shares during the quarter. Teton Advisors Inc. owned 0.75% of Mesa Laboratories worth $5,383,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Conestoga Capital Advisors LLC lifted its position in shares of Mesa Laboratories by 10.9% in the third quarter. Conestoga Capital Advisors LLC now owns 475,439 shares of the medical instruments supplier’s stock worth $88,251,000 after purchasing an additional 46,717 shares in the last quarter. BlackRock Inc. lifted its position in shares of Mesa Laboratories by 11.3% in the second quarter. BlackRock Inc. now owns 210,585 shares of the medical instruments supplier’s stock worth $44,449,000 after purchasing an additional 21,299 shares in the last quarter. Royce & Associates LP increased its holdings in Mesa Laboratories by 18.2% during the second quarter. Royce & Associates LP now owns 102,430 shares of the medical instruments supplier’s stock worth $21,621,000 after buying an additional 15,778 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Mesa Laboratories by 2.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 58,509 shares of the medical instruments supplier’s stock worth $10,860,000 after buying an additional 1,355 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Mesa Laboratories by 7.2% during the second quarter. Northern Trust Corp now owns 48,167 shares of the medical instruments supplier’s stock worth $10,167,000 after buying an additional 3,222 shares during the last quarter. 73.08% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Seg Ventures, Llc acquired 30,000 shares of the firm’s stock in a transaction on Friday, October 12th. The shares were purchased at an average cost of $21.52 per share, for a total transaction of $645,600.00. Following the completion of the acquisition, the director now directly owns 120,000 shares in the company, valued at $2,582,400. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael T. Brooks sold 2,700 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $195.39, for a total transaction of $527,553.00. Following the completion of the transaction, the director now owns 27,750 shares in the company, valued at $5,422,072.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 90,000 shares of company stock worth $2,097,600 and have sold 4,400 shares worth $864,060. 15.00% of the stock is currently owned by insiders.
A number of brokerages recently weighed in on MLAB. Zacks Investment Research upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a report on Wednesday, July 11th. BidaskClub downgraded shares of Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. TheStreet downgraded shares of Mesa Laboratories from a “b-” rating to a “c” rating in a report on Tuesday, August 21st. Finally, ValuEngine upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd.
MLAB traded up $0.29 during trading on Monday, reaching $190.25. 116 shares of the stock were exchanged, compared to its average volume of 34,277. The company has a market cap of $731.89 million, a price-to-earnings ratio of 30.50 and a beta of 0.27. Mesa Laboratories, Inc. has a twelve month low of $122.35 and a twelve month high of $224.95. The company has a current ratio of 1.72, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29.
Mesa Laboratories (NASDAQ:MLAB) last issued its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.14. The business had revenue of $24.87 million for the quarter, compared to the consensus estimate of $25.00 million. Mesa Laboratories had a negative net margin of 1.60% and a positive return on equity of 16.65%. As a group, research analysts forecast that Mesa Laboratories, Inc. will post 7.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.34%. Mesa Laboratories’s payout ratio is 10.36%.
Mesa Laboratories Company Profile
Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.
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