Connor Clark & Lunn Investment Management Ltd. Makes New $449,000 Investment in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mesa Laboratories, Inc. (NASDAQ:MLAB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,460 shares of the medical instruments supplier’s stock, valued at approximately $449,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Mesa Laboratories at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Mesa Laboratories by 90.3% during the third quarter. Victory Capital Management Inc. now owns 14,001 shares of the medical instruments supplier’s stock worth $1,818,000 after buying an additional 6,643 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Mesa Laboratories by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 373,397 shares of the medical instruments supplier’s stock worth $40,973,000 after acquiring an additional 3,119 shares during the period. Rice Hall James & Associates LLC boosted its position in shares of Mesa Laboratories by 44.1% during the 3rd quarter. Rice Hall James & Associates LLC now owns 22,108 shares of the medical instruments supplier’s stock valued at $2,871,000 after acquiring an additional 6,766 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 purchasing an additional 6,292 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Mesa Laboratories by 6.5% during 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 purchasing an additional 175 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Laboratories Stock Performance

NASDAQ:MLAB opened at $117.14 on Friday. Mesa Laboratories, Inc. has a fifty-two week low of $83.68 and a fifty-two week high of $141.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. The company has a 50 day moving average price of $120.64 and a 200 day moving average price of $114.55. The stock has a market capitalization of $636.07 million, a P/E ratio of -2.57 and a beta of 0.87.

Mesa Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s dividend payout ratio (DPR) is -1.40%.

Insider Buying and Selling at Mesa Laboratories

In other Mesa Laboratories news, CEO Gary M. Owens sold 2,518 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $113.62, for a total transaction of $286,095.16. Following the sale, the chief executive officer now owns 45,888 shares in the company, valued at $5,213,794.56. This represents a 5.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction dated Friday, September 13th. The shares were 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. 4.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MLAB has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Wells Fargo & Company assumed coverage on Mesa Laboratories in a report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 price target for the company. Finally, StockNews.com downgraded Mesa Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Mesa Laboratories Company 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.