Nuveen LLC Takes Position in Mesa Laboratories, Inc. $MLAB

Key Points

• Nuveen LLC has made a new investment in Mesa Laboratories, Inc. by purchasing 19,424 shares valued at approximately $2.3 million, now owning about 0.36% of the company.
• Recent ratings from analysts saw Wells Fargo adjust its position from "underweight" to "equal weight" with a revised price target of $67, while Zacks Research upgraded their rating from "strong sell" to "hold."
• Mesa Laboratories will be paying a quarterly dividend of $0.16 per share on September 15th, with a current annualized yield of 0.9% despite a negative dividend payout ratio of -457.14%.

Nuveen LLC purchased a new position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,424 shares of the medical instruments supplier's stock, valued at approximately $2,305,000. Nuveen LLC owned approximately 0.36% of Mesa Laboratories as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MLAB. SG Americas Securities LLC increased its position in 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 purchasing an additional 388 shares during the period. Squarepoint Ops LLC purchased a new stake in Mesa Laboratories during the fourth quarter worth $293,000. Principal Financial Group Inc. grew its stake in Mesa Laboratories by 13.8% in the 1st quarter. Principal Financial Group Inc. now owns 43,659 shares of the medical instruments supplier's stock valued at $5,181,000 after acquiring an additional 5,300 shares during the last quarter. US Bancorp DE grew its stake in Mesa Laboratories by 48.3% in the 1st quarter. US Bancorp DE now owns 1,323 shares of the medical instruments supplier's stock valued at $157,000 after acquiring an additional 431 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Mesa Laboratories by 91.0% during 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 valued at $2,544,000 after acquiring an additional 9,189 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MLAB shares. Wells Fargo & Company raised shares of Mesa Laboratories from an "underweight" rating to an "equal weight" rating and reduced their price target for the company from $100.00 to $67.00 in a report on Thursday, August 7th. Zacks Research raised Mesa Laboratories from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Wall Street Zen downgraded Mesa Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $113.50.

Insider Buying and Selling

In other Mesa Laboratories news, CFO John Sakys sold 642 shares of the 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 $62,351.04. Following the transaction, the chief financial officer owned 12,865 shares of the company's stock, valued at $1,249,448.80. This trade represents a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary M. Owens sold 1,939 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $188,315.68. Following the sale, the chief executive officer owned 45,824 shares of the company's stock, valued at approximately $4,450,426.88. The trade was a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,053 shares of company stock valued at $296,507. Insiders own 4.90% of the company's stock.

Mesa Laboratories Trading Up 4.8%

Mesa Laboratories stock traded up $2.94 during trading on Thursday, hitting $64.33. The company's stock had a trading volume of 157,061 shares, compared to its average volume of 99,961. The stock's fifty day moving average is $75.70 and its 200 day moving average is $102.77. Mesa Laboratories, Inc. has a 1-year low of $55.45 and a 1-year high of $155.12. The stock has a market capitalization of $353.82 million, a price-to-earnings ratio of -459.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.47 and a current ratio of 0.66.

Mesa Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 29th. Mesa Laboratories's dividend payout ratio is presently -457.14%.

Mesa Laboratories Company 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.