Los Angeles Capital Management LLC Sells 2,219 Shares of Mesa Laboratories, Inc. (NASDAQ:MLAB)

Los Angeles Capital Management LLC cut its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 40.3% in the third quarter, Holdings Channel reports. The fund owned 3,294 shares of the medical instruments supplier’s stock after selling 2,219 shares during the period. Los Angeles Capital Management LLC’s holdings in Mesa Laboratories were worth $428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new stake in shares of Mesa Laboratories in the second quarter valued at $26,000. EntryPoint Capital LLC grew its position in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after buying an additional 193 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Mesa Laboratories during the 2nd quarter worth about $183,000. Berry Wealth Group LP acquired a new position in shares of Mesa Laboratories during the 3rd quarter worth about $204,000. Finally, Amalgamated Bank grew its position in shares of Mesa Laboratories by 6.5% during the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after buying an additional 97 shares during the period. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Brian David Archbold sold 1,499 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $125.00, for a total value of $187,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the sale, the chief executive officer now directly owns 45,888 shares of the company’s stock, valued at approximately $5,213,794.56. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.

Mesa Laboratories Trading Down 2.1 %

NASDAQ MLAB opened at $102.43 on Monday. The company has a market cap of $556.30 million, a PE ratio of -2.25 and a beta of 0.87. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. Mesa Laboratories, Inc. has a 12 month low of $83.68 and a 12 month high of $141.17. The stock has a 50 day moving average of $123.21 and a 200-day moving average of $114.95.

Mesa Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Friday, November 29th. Mesa Laboratories’s payout ratio is presently -1.40%.

Analysts Set New Price Targets

MLAB has been the subject of several analyst reports. Wells Fargo & Company assumed coverage on Mesa Laboratories in a research report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 target price for the company. Evercore ISI lifted 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. Finally, StockNews.com cut Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

Mesa Laboratories 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.