Royce & Associates LP Boosts Stake in Mesa Laboratories, Inc. (MLAB)
Royce & Associates LP raised its position in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 56.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,530 shares of the medical instruments supplier’s stock after buying an additional 28,458 shares during the period. Royce & Associates LP owned 2.09% of Mesa Laboratories worth $11,254,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Eqis Capital Management Inc. raised its position in Mesa Laboratories by 5.6% in the second quarter. Eqis Capital Management Inc. now owns 5,188 shares of the medical instruments supplier’s stock worth $744,000 after buying an additional 273 shares during the period. Thomson Horstmann & Bryant Inc. raised its stake in shares of Mesa Laboratories by 75.4% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 72,362 shares of the medical instruments supplier’s stock valued at $10,370,000 after buying an additional 31,107 shares during the last quarter. Pembroke Management LTD bought a new stake in shares of Mesa Laboratories during the second quarter valued at approximately $8,283,000. Strs Ohio raised its stake in shares of Mesa Laboratories by 5.6% in the second quarter. Strs Ohio now owns 1,900 shares of the medical instruments supplier’s stock valued at $272,000 after buying an additional 100 shares during the last quarter. Finally, Spark Investment Management LLC bought a new stake in shares of Mesa Laboratories during the second quarter valued at approximately $300,000. Institutional investors and hedge funds own 67.21% of the company’s stock.
Shares of Mesa Laboratories, Inc. (MLAB) opened at 136.42 on Friday. The stock has a market cap of $512.67 million, a PE ratio of 49.04 and a beta of 0.48. Mesa Laboratories, Inc. has a one year low of $103.51 and a one year high of $169.80. The stock’s 50 day moving average price is $139.21 and its 200-day moving average price is $137.15.
Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings data on Monday, July 31st. The medical instruments supplier reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.17. The company had revenue of $22.67 million for the quarter, compared to analyst estimates of $22.90 million. Mesa Laboratories had a net margin of 11.31% and a return on equity of 16.58%. On average, equities analysts predict that Mesa Laboratories, Inc. will post $2.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, August 29th. Mesa Laboratories’s dividend payout ratio (DPR) is currently 22.94%.
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Several equities research analysts have commented on MLAB shares. Zacks Investment Research upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research report on Tuesday, June 13th. BidaskClub downgraded shares of Mesa Laboratories from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Finally, TheStreet downgraded shares of Mesa Laboratories from a “b” rating to a “c+” rating in a research note on Monday, July 31st.
In other news, Director H Stuart Campbell sold 1,000 shares of Mesa Laboratories stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $130.16, for a total transaction of $130,160.00. Following the sale, the director now owns 42,366 shares of the company’s stock, valued at approximately $5,514,358.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert V. Dwyer sold 11,150 shares of Mesa Laboratories stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $139.46, for a total value of $1,554,979.00. Following the sale, the director now directly owns 80,671 shares in the company, valued at approximately $11,250,377.66. The disclosure for this sale can be found here. Insiders sold a total of 24,760 shares of company stock worth $3,469,708 in the last ninety days. Insiders own 17.00% of the company’s stock.
About Mesa Laboratories
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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