Lazard Asset Management LLC Buys New Stake in Mesa Laboratories, Inc. $MLAB

Key Points

• Lazard Asset Management initiated a Mesa Laboratories stake of 20,328 shares valued at approximately $1.8 million, while institutional investors collectively own 90.6% of the company.
• Mesa Laboratories reported quarterly revenue of $63.72 million and earnings of $1.53 per share, missing analyst estimates of $65.21 million and $1.78 per share, respectively.
• The stock rose 3.6% to $104.43, despite a “Reduce” consensus rating and an average analyst price target of $94. The company declared a quarterly dividend of $0.16, equivalent to a 0.6% yield.

Lazard Asset Management LLC purchased a new position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,328 shares of the medical instruments supplier's stock, valued at approximately $1,797,000. Lazard Asset Management LLC owned about 0.37% of Mesa Laboratories as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MLAB. Boston Partners lifted its position in Mesa Laboratories by 86.6% during the fourth quarter. Boston Partners now owns 213,376 shares of the medical instruments supplier's stock valued at $16,752,000 after purchasing an additional 99,019 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Mesa Laboratories by 3.2% in the 4th quarter. Royce & Associates LP now owns 153,352 shares of the medical instruments supplier's stock worth $12,038,000 after buying an additional 4,794 shares during the last quarter. Kennedy Capital Management LLC raised its position in shares of Mesa Laboratories by 19.0% during the 4th quarter. Kennedy Capital Management LLC now owns 144,606 shares of the medical instruments supplier's stock valued at $11,352,000 after buying an additional 23,060 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Mesa Laboratories by 15.1% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier's stock valued at $11,145,000 after acquiring an additional 18,592 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Mesa Laboratories by 131.9% in the 3rd quarter. Millennium Management LLC now owns 133,817 shares of the medical instruments supplier's stock valued at $8,967,000 after acquiring an additional 76,107 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Mesa Laboratories Stock Up 3.6%

Shares of MLAB opened at $104.43 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.72 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $100.22 and a 200 day moving average of $94.81. The company has a market cap of $584.81 million, a PE ratio of 87.03 and a beta of 0.92. Mesa Laboratories, Inc. has a 52-week low of $55.45 and a 52-week high of $113.99.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The medical instruments supplier reported $1.53 earnings per share for the quarter, missing analysts' consensus estimates of $1.78 by ($0.25). Mesa Laboratories had a net margin of 2.69% and a return on equity of 20.96%. The firm had revenue of $63.72 million for the quarter, compared to the consensus estimate of $65.21 million. During the same quarter last year, the firm earned ($1.31) EPS.

Mesa Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Mesa Laboratories's dividend payout ratio is 53.33%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Mesa Laboratories from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Mesa Laboratories has a consensus rating of "Reduce" and an average price target of $94.00.

Insiders Place Their Bets

In other news, SVP Brian David Archbold sold 2,516 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total value of $225,182.00. Following the transaction, the senior vice president directly owned 6,377 shares in the company, valued at approximately $570,741.50. This represents a 28.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John Sakys sold 2,827 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $89.50, for a total transaction of $253,016.50. Following the completion of the transaction, the chief financial officer directly owned 19,785 shares in the company, valued at $1,770,757.50. This represents a 12.50% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,277 shares of company stock worth $770,122 over the last quarter. Company insiders own 2.80% of the company's stock.

Mesa Laboratories Company Profile

Mesa Laboratories, Inc NASDAQ: MLAB is a global provider of instrumentation products designed for critical process monitoring, testing and calibration. Headquartered in Lakewood, Colorado, the company serves a diverse set of end markets including healthcare, pharmaceutical, food and beverage, energy and industrial sectors. With a focus on precision measurement and validation, Mesa Laboratories helps customers ensure regulatory compliance, product safety and operational efficiency across complex manufacturing and sterilization processes.

The company's product portfolio encompasses biological and chemical indicators for sterilization process validation, digital data loggers and sensors for environmental monitoring, and optical gas analyzers with sample-conditioning solutions for oil, gas and petrochemical applications.

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