Captrust Financial Advisors Takes Position in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Captrust Financial Advisors purchased a new stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,597 shares of the medical instruments supplier’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also modified their holdings of MLAB. Canada Pension Plan Investment Board acquired a new stake in Mesa Laboratories during the second quarter valued at $26,000. FMR LLC lifted its position in shares of Mesa Laboratories by 34.1% in the third quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock worth $51,000 after buying an additional 100 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Mesa Laboratories in the third quarter worth about $70,000. Sanctuary Advisors LLC acquired a new stake in shares of Mesa Laboratories in the second quarter worth about $183,000. Finally, Berry Wealth Group LP acquired a new stake in shares of Mesa Laboratories in the third quarter worth about $204,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Trading Up 4.5 %

Shares of MLAB opened at $133.26 on Tuesday. Mesa Laboratories, Inc. has a 12-month low of $83.68 and a 12-month high of $141.17. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $723.74 million, a price-to-earnings ratio of -2.92 and a beta of 0.86. The stock’s 50-day moving average price is $119.92 and its 200 day moving average price is $115.35.

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.48%. Mesa Laboratories’s dividend payout ratio is currently -1.40%.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction that occurred on 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 directly owns 45,888 shares in the company, valued at $5,213,794.56. This represents a 5.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

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.