Principal Financial Group Inc. Boosts Holdings in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Principal Financial Group Inc. boosted its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,659 shares of the medical instruments supplier's stock after buying an additional 5,300 shares during the quarter. Principal Financial Group Inc. owned 0.80% of Mesa Laboratories worth $5,181,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Mesa Laboratories by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 382,856 shares of the medical instruments supplier's stock worth $50,487,000 after purchasing an additional 5,274 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Mesa Laboratories during the fourth quarter worth about $32,677,000. Ameriprise Financial Inc. lifted its position in shares of Mesa Laboratories by 191.8% during the fourth quarter. Ameriprise Financial Inc. now owns 151,862 shares of the medical instruments supplier's stock worth $20,026,000 after purchasing an additional 99,819 shares in the last quarter. Northern Trust Corp lifted its position in shares of Mesa Laboratories by 2.0% during the fourth quarter. Northern Trust Corp now owns 93,789 shares of the medical instruments supplier's stock worth $12,368,000 after purchasing an additional 1,825 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Mesa Laboratories by 10.3% during the fourth quarter. Janus Henderson Group PLC now owns 86,286 shares of the medical instruments supplier's stock worth $11,379,000 after purchasing an additional 8,092 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Mesa Laboratories Stock Down 4.9%

NASDAQ:MLAB traded down $3.90 during mid-day trading on Thursday, hitting $75.13. The stock had a trading volume of 152,795 shares, compared to its average volume of 59,027. The stock has a 50-day simple moving average of $101.57 and a two-hundred day simple moving average of $119.89. The company has a market capitalization of $413.22 million, a PE ratio of -203.05 and a beta of 0.86. Mesa Laboratories, Inc. has a twelve month low of $74.77 and a twelve month high of $155.12. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48.

Mesa Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 29th. This represents a $0.64 dividend on an annualized basis and a yield of 0.85%. Mesa Laboratories's payout ratio is currently -172.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company reduced their target price on shares of Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating on the stock in a report on Friday, May 30th.

Insiders Place Their Bets

In other Mesa Laboratories news, CEO Gary M. Owens sold 1,939 shares of the firm'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 $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. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brian David Archbold sold 472 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $97.12, for a total transaction of $45,840.64. Following the sale, the senior vice president directly owned 558 shares in the company, valued at approximately $54,192.96. The trade was a 45.83% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,053 shares of company stock valued at $296,507. 4.40% of the stock is owned by corporate insiders.

Mesa Laboratories 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.