Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 28.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,921 shares of the medical instruments supplier’s stock after selling 7,860 shares during the quarter. King Luther Capital Management Corp owned 0.37% of Mesa Laboratories worth $1,729,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in shares of Mesa Laboratories by 515.6% in the fourth quarter. Quadrant Capital Group LLC now owns 277 shares of the medical instruments supplier’s stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Mesa Laboratories in the 2nd quarter valued at $26,000. EntryPoint Capital LLC raised its position in Mesa Laboratories by 35.2% in the first quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock valued at $81,000 after purchasing an additional 193 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Mesa Laboratories by 4.0% during the second quarter. Louisiana State Employees Retirement System now owns 2,600 shares of the medical instruments supplier’s stock worth $226,000 after purchasing an additional 100 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Mesa Laboratories by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,873 shares of the medical instruments supplier’s stock worth $316,000 after buying an additional 175 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Price Performance

MLAB stock opened at $128.57 on Friday. The stock’s 50 day moving average is $120.90 and its two-hundred day moving average is $109.72. Mesa Laboratories, Inc. has a 52-week low of $82.86 and a 52-week high of $141.17. The company has a market capitalization of $695.44 million, a PE ratio of -2.73 and a beta of 0.85. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 1.38.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Monday, August 5th. The medical instruments supplier reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.55. The business had revenue of $58.17 million during the quarter, compared to analyst estimates of $55.90 million. Mesa Laboratories had a negative net margin of 111.89% and a positive return on equity of 18.95%. Analysts predict that Mesa Laboratories, Inc. will post 7.91 earnings per share for the current fiscal year.

Mesa Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.50%. Mesa Laboratories’s payout ratio is -1.36%.

Insider Transactions at Mesa Laboratories

In related news, SVP Brian David Archbold sold 1,499 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $125.00, for a total value of $187,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MLAB. Evercore ISI boosted their price target on Mesa Laboratories from $106.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price target for the company.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc develops, manufactures, and sells life sciences tools and quality control products and services in North America, Europe, the Asia Pacific, and internationally. It operates in four segments: Clinical Genomics, Sterilization and Disinfection Control, Biopharmaceutical Development, and Calibration Solutions.