Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 40.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,294 shares of the medical instruments supplier’s stock after selling 2,219 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Mesa Laboratories worth $428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Mesa Laboratories by 0.8% in the first quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier’s stock valued at $40,973,000 after purchasing an additional 3,119 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Mesa Laboratories by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 131,891 shares of the medical instruments supplier’s stock worth $11,444,000 after purchasing an additional 8,722 shares in the last quarter. Raymond James & Associates raised its holdings in Mesa Laboratories by 8.4% in the second quarter. Raymond James & Associates now owns 80,739 shares of the medical instruments supplier’s stock valued at $7,006,000 after acquiring an additional 6,283 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Mesa Laboratories by 21.8% in the third quarter. Principal Financial Group Inc. now owns 35,107 shares of the medical instruments supplier’s stock valued at $4,559,000 after acquiring an additional 6,292 shares in the last quarter. Finally, Meros Investment Management LP acquired a new stake in shares of Mesa Laboratories during the second quarter worth $2,456,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 target price on the stock. StockNews.com lowered shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI increased their target price on shares of Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st.

Mesa Laboratories Price Performance

Shares of NASDAQ MLAB opened at $102.43 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. Mesa Laboratories, Inc. has a twelve month low of $83.68 and a twelve month high of $141.17. The company has a market capitalization of $556.30 million, a price-to-earnings ratio of -2.25 and a beta of 0.87. The firm has a 50-day moving average of $123.21 and a two-hundred day moving average of $114.95.

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s dividend payout ratio is presently -1.40%.

Insider Buying and Selling at Mesa Laboratories

In other news, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the sale, the chief executive officer now directly owns 45,888 shares of the company’s stock, valued at $5,213,794.56. This represents a 5.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $125.00, for a total value of $187,375.00. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Mesa Laboratories 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.