Keeley Teton Advisors LLC Sells 6,319 Shares of Mesa Laboratories, Inc. $MLAB

Key Points

• Keeley Teton Advisors LLC reduced its stake in Mesa Laboratories, Inc. by 28.7%, now holding approximately 0.29% of the company worth $1,860,000.
• Wall Street analysts have recently updated their ratings for Mesa Laboratories, with Wells Fargo lowering the price target from $100.00 to $67.00, reflecting caution among investment firms.
• The company announced a quarterly dividend of $0.16, with a scheduled payment date of September 15th, providing a 0.9% dividend yield.

Keeley Teton Advisors LLC decreased its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 28.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 15,678 shares of the medical instruments supplier's stock after selling 6,319 shares during the period. Keeley Teton Advisors LLC owned 0.29% of Mesa Laboratories worth $1,860,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of Mesa Laboratories by 18.7% during the 1st quarter. SG Americas Securities LLC now owns 2,461 shares of the medical instruments supplier's stock worth $292,000 after buying an additional 388 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Mesa Laboratories during the 4th quarter worth about $293,000. Principal Financial Group Inc. boosted its holdings in shares of Mesa Laboratories by 13.8% during the 1st quarter. Principal Financial Group Inc. now owns 43,659 shares of the medical instruments supplier's stock worth $5,181,000 after buying an additional 5,300 shares during the period. US Bancorp DE boosted its holdings in shares of Mesa Laboratories by 48.3% during the 1st quarter. US Bancorp DE now owns 1,323 shares of the medical instruments supplier's stock worth $157,000 after buying an additional 431 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Mesa Laboratories by 91.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,292 shares of the medical instruments supplier's stock worth $2,544,000 after purchasing an additional 9,189 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MLAB. Wells Fargo & Company upgraded shares of Mesa Laboratories from an "underweight" rating to an "equal weight" rating and dropped their price objective for the stock from $100.00 to $67.00 in a research note on Thursday, August 7th. Zacks Research upgraded shares of Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wall Street Zen cut shares of Mesa Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $113.50.

Insider Activity

In other news, CFO John Sakys sold 642 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $97.12, for a total value of $62,351.04. Following the completion of the transaction, the chief financial officer directly owned 12,865 shares in the company, valued at approximately $1,249,448.80. The trade was a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian David Archbold sold 472 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $97.12, for a total transaction of $45,840.64. Following the completion of the transaction, the senior vice president owned 558 shares of the company's stock, valued at $54,192.96. The trade was a 45.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,053 shares of company stock worth $296,507. 4.90% of the stock is currently owned by corporate insiders.

Mesa Laboratories Price Performance

Shares of NASDAQ:MLAB traded up $0.35 during midday trading on Friday, hitting $67.75. The stock had a trading volume of 102,083 shares, compared to its average volume of 120,631. The company's 50-day moving average price is $78.37 and its 200-day moving average price is $104.73. The company has a market capitalization of $372.76 million, a P/E ratio of -483.93 and a beta of 0.83. The company has a quick ratio of 0.47, a current ratio of 0.66 and a debt-to-equity ratio of 0.46. Mesa Laboratories, Inc. has a fifty-two week low of $55.45 and a fifty-two week high of $155.12.

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.16 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. Mesa Laboratories's payout ratio is presently -457.14%.

About Mesa Laboratories

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.