O Shaughnessy Asset Management LLC acquired a new position in Mesa Laboratories, Inc. (NASDAQ:MLAB) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 178 shares of the medical instruments supplier’s stock, valued at approximately $41,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Mesa Laboratories during the 4th quarter valued at about $34,000. Bessemer Group Inc. acquired a new stake in shares of Mesa Laboratories in the fourth quarter valued at $125,000. Legal & General Group Plc raised its position in shares of Mesa Laboratories by 14.1% during the fourth quarter. Legal & General Group Plc now owns 656 shares of the medical instruments supplier’s stock worth $136,000 after purchasing an additional 81 shares during the period. BNP Paribas Arbitrage SA raised its position in Mesa Laboratories by 70,300.0% during the first quarter. BNP Paribas Arbitrage SA now owns 704 shares of the medical instruments supplier’s stock valued at $162,000 after buying an additional 703 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Mesa Laboratories during the first quarter valued at $220,000. Institutional investors and hedge funds own 72.48% of the company’s stock.
Several research firms have recently issued reports on MLAB. Zacks Investment Research upgraded Mesa Laboratories from a “hold” rating to a “buy” rating and set a $256.00 price target for the company in a research note on Wednesday, April 3rd. ValuEngine cut Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Sidoti initiated coverage on Mesa Laboratories in a report on Wednesday, March 13th. They set a “neutral” rating for the company. BidaskClub lowered Mesa Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, TheStreet lowered Mesa Laboratories from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Mesa Laboratories has an average rating of “Hold” and an average target price of $256.00.
Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings results on Monday, June 3rd. The medical instruments supplier reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.74). Mesa Laboratories had a return on equity of 19.88% and a net margin of 7.26%. The company had revenue of $26.45 million for the quarter, compared to analyst estimates of $29.00 million.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.31%. Mesa Laboratories’s payout ratio is currently 11.92%.
In related news, Director David M. Kelly sold 684 shares of Mesa Laboratories stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $230.00, for a total value of $157,320.00. Following the transaction, the director now owns 3,584 shares in the company, valued at approximately $824,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.00% of the stock is owned by company insiders.
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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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