Mesa Laboratories (NASDAQ:MLAB) Sees Unusually-High Trading Volume

Mesa Laboratories, Inc. (NASDAQ:MLAB) saw an uptick in trading volume on Wednesday . 1,988 shares changed hands during trading, a decline of 92% from the previous session’s volume of 26,156 shares.The stock last traded at $311.65 and had previously closed at $312.00.

Separately, Zacks Investment Research downgraded Mesa Laboratories from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 17th.

The company has a debt-to-equity ratio of 0.42, a quick ratio of 9.06 and a current ratio of 9.43. The firm has a market capitalization of $1.62 billion, a P/E ratio of 421.62 and a beta of 0.38. The stock has a fifty day moving average price of $281.27 and a two-hundred day moving average price of $264.87.

Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Thursday, August 5th. The medical instruments supplier reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. Mesa Laboratories had a return on equity of 6.20% and a net margin of 2.92%. The business had revenue of $34.92 million during the quarter, compared to the consensus estimate of $34.10 million. As a group, research analysts anticipate that Mesa Laboratories, Inc. will post 5.37 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.20%. Mesa Laboratories’s dividend payout ratio (DPR) is 12.21%.

In related news, SVP Brian David Archbold sold 639 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The stock was sold at an average price of $280.03, for a total transaction of $178,939.17. Following the completion of the transaction, the senior vice president now owns 154 shares in the company, valued at approximately $43,124.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John James Sullivan sold 5,192 shares of the business’s stock in a transaction that occurred on Monday, August 16th. The shares were sold at an average price of $272.16, for a total value of $1,413,054.72. Following the transaction, the director now owns 28,549 shares of the company’s stock, valued at approximately $7,769,895.84. The disclosure for this sale can be found here. Insiders sold a total of 14,854 shares of company stock valued at $4,087,169 over the last quarter. Company insiders own 5.10% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Ceredex Value Advisors LLC boosted its position in Mesa Laboratories by 60.0% during the 2nd quarter. Ceredex Value Advisors LLC now owns 200 shares of the medical instruments supplier’s stock worth $54,000 after acquiring an additional 75 shares during the period. Dark Forest Capital Management LP acquired a new position in Mesa Laboratories during the 2nd quarter worth $71,000. Huntington National Bank boosted its position in Mesa Laboratories by 55.4% during the 2nd quarter. Huntington National Bank now owns 314 shares of the medical instruments supplier’s stock worth $85,000 after acquiring an additional 112 shares during the period. SRS Capital Advisors Inc. acquired a new position in Mesa Laboratories during the 2nd quarter worth $96,000. Finally, Mutual of America Capital Management LLC boosted its position in Mesa Laboratories by 7.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 650 shares of the medical instruments supplier’s stock worth $158,000 after acquiring an additional 43 shares during the period. Institutional investors own 90.54% of the company’s stock.

About Mesa Laboratories (NASDAQ:MLAB)

Mesa Laboratories, Inc engages in the design, manufacture, and market of instruments and disposable products utilized in healthcare, pharmaceutical, food and beverage, medical device, and petrochemical industries. It operates through the following segments: Sterilization and Disinfection Control, Instruments, Continuous Monitoring, and Biopharmaceutical Development.

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