Mesa Laboratories, Inc. $MLAB Shares Acquired by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management increased its stake in Mesa Laboratories by 15.1% in the fourth quarter, adding 18,592 shares and lifting its total holding to 141,973 shares worth about $11.1 million.
• Insiders also bought shares: directors R. Tony Tripeny and Mark Christopher Capone purchased stock in March, and insiders bought a total of 6,116 shares over the last 90 days.
• Mesa Laboratories recently declared a quarterly dividend of $0.16 per share, payable June 15, though the payout ratio is high at 100% and the yield is about 0.6%.

Diamond Hill Capital Management Inc. grew its stake in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,973 shares of the medical instruments supplier's stock after acquiring an additional 18,592 shares during the quarter. Diamond Hill Capital Management Inc. owned about 2.57% of Mesa Laboratories worth $11,145,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MLAB. Royal Bank of Canada increased its stake in shares of Mesa Laboratories by 1.2% in the 1st quarter. Royal Bank of Canada now owns 30,772 shares of the medical instruments supplier's stock worth $3,652,000 after acquiring an additional 353 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Mesa Laboratories in the 1st quarter worth $335,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Mesa Laboratories by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,068 shares of the medical instruments supplier's stock worth $364,000 after acquiring an additional 143 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Mesa Laboratories by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 19,977 shares of the medical instruments supplier's stock worth $2,370,000 after acquiring an additional 685 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Mesa Laboratories by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 13,431 shares of the medical instruments supplier's stock worth $1,265,000 after acquiring an additional 194 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director R Tony Tripeny bought 1,315 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was bought at an average cost of $76.00 per share, for a total transaction of $99,940.00. Following the acquisition, the director directly owned 5,398 shares of the company's stock, valued at $410,248. The trade was a 32.21% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark Christopher Capone bought 1,301 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $76.35 per share, with a total value of $99,331.35. Following the completion of the acquisition, the director directly owned 3,429 shares in the company, valued at $261,804.15. This trade represents a 61.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 6,116 shares of company stock valued at $452,076 over the last 90 days. 4.90% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MLAB. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Mesa Laboratories in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Mesa Laboratories from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 7th. Finally, Wells Fargo & Company upped their target price on shares of Mesa Laboratories from $83.00 to $94.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Mesa Laboratories has an average rating of "Reduce" and a consensus price target of $94.00.

Mesa Laboratories Trading Down 0.4%

Shares of MLAB stock opened at $108.64 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.94 and a quick ratio of 1.45. The firm has a market cap of $599.69 million, a PE ratio of 169.75 and a beta of 0.94. The company has a 50-day moving average of $94.55 and a two-hundred day moving average of $86.95. Mesa Laboratories, Inc. has a 1-year low of $55.45 and a 1-year high of $115.35.

Mesa Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Mesa Laboratories's dividend payout ratio (DPR) is 100.00%.

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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