Bank of America Corp DE increased its position in Mesa Laboratories, Inc. (NASDAQ:MLAB) by 126.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,939 shares of the medical instruments supplier’s stock after purchasing an additional 2,198 shares during the period. Bank of America Corp DE owned about 0.10% of Mesa Laboratories worth $832,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Mesa Laboratories during the 2nd quarter worth about $298,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Mesa Laboratories by 121.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,802 shares of the medical instruments supplier’s stock worth $803,000 after purchasing an additional 2,082 shares during the period. Yorktown Management & Research Co Inc increased its holdings in shares of Mesa Laboratories by 15.0% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 3,564 shares of the medical instruments supplier’s stock worth $752,000 after purchasing an additional 464 shares during the period. Brown Advisory Inc. bought a new position in shares of Mesa Laboratories during the 2nd quarter worth about $1,247,000. Finally, BlackRock Inc. increased its holdings in shares of Mesa Laboratories by 11.3% during the 2nd 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 during the period. 72.88% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:MLAB opened at $199.42 on Monday. Mesa Laboratories, Inc. has a 52-week low of $122.35 and a 52-week 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. The stock has a market cap of $768.33 million, a PE ratio of 32.27 and a beta of 0.27.
Mesa Laboratories (NASDAQ:MLAB) last posted its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. Mesa Laboratories had a negative net margin of 1.60% and a positive return on equity of 16.65%. The company had revenue of $24.87 million for the quarter, compared to the consensus estimate of $25.00 million. On average, research analysts expect that Mesa Laboratories, Inc. will post 7.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.32%. Mesa Laboratories’s dividend payout ratio (DPR) is currently 10.36%.
In other news, Director David M. Kelly sold 700 shares of Mesa Laboratories stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $190.01, for a total transaction of $133,007.00. Following the sale, the director now directly owns 3,600 shares in the company, valued at approximately $684,036. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael T. Brooks sold 2,700 shares of Mesa Laboratories stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $195.39, for a total transaction of $527,553.00. Following the sale, 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 quarter, insiders have bought 90,000 shares of company stock worth $2,097,600. 15.00% of the stock is owned by company insiders.
Several research firms have recently issued reports on MLAB. TheStreet downgraded shares of Mesa Laboratories from a “b-” rating to a “c” rating in a report on Tuesday, August 21st. BidaskClub downgraded shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, ValuEngine upgraded shares of Mesa Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd.
About Mesa Laboratories
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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