Ranger Investment Management L.P. Makes New $17.32 Million Investment in Mesa Laboratories, Inc. $MLAB

Key Points

• Ranger Investment Management acquired 173,988 Mesa Laboratories shares worth approximately $17.32 million, giving it a 3.11% stake. Institutional investors collectively own 90.60% of the company.
• Mesa Laboratories reported quarterly revenue of $60.14 million and earnings of $2.68 per share, while announcing a quarterly dividend of $0.16 per share, equivalent to a 0.5% yield.
• Analysts maintain a consensus “Hold” rating with a $110 price target, below the stock’s reported $124.76 opening price; recent insider activity included both a director sale and a director purchase.

Ranger Investment Management L.P. bought a new position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 173,988 shares of the medical instruments supplier's stock, valued at approximately $17,321,000. Ranger Investment Management L.P. owned 3.11% of Mesa Laboratories at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Mesa Laboratories during the 2nd quarter worth about $15,507,000. Renaissance Technologies LLC lifted its position in shares of Mesa Laboratories by 802.9% in the first quarter. Renaissance Technologies LLC now owns 31,600 shares of the medical instruments supplier's stock worth $2,794,000 after purchasing an additional 28,100 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of Mesa Laboratories by 15.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier's stock worth $11,145,000 after purchasing an additional 18,592 shares in the last quarter. Irenic Capital Management LP acquired a new stake in shares of Mesa Laboratories during the fourth quarter worth approximately $1,962,000. Finally, Gabelli Funds LLC grew its position in Mesa Laboratories by 12.5% during the fourth quarter. Gabelli Funds LLC now owns 60,724 shares of the medical instruments supplier's stock valued at $4,767,000 after purchasing an additional 6,750 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Mesa Laboratories Stock Performance

Mesa Laboratories stock opened at $124.76 on Monday. Mesa Laboratories, Inc. has a one year low of $58.83 and a one year high of $124.89. The company's fifty day moving average price is $101.47 and its two-hundred day moving average price is $97.35. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.32. The company has a market capitalization of $698.66 million, a price-to-earnings ratio of 148.53 and a beta of 0.92.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. Mesa Laboratories had a return on equity of 22.72% and a net margin of 1.92%.The company had revenue of $60.14 million during the quarter.

Mesa Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Mesa Laboratories's dividend payout ratio (DPR) is 76.19%.

Insider Activity

In other news, Director John James Sullivan sold 7,093 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $112.80, for a total value of $800,090.40. Following the sale, the director directly owned 17,834 shares of the company's stock, valued at approximately $2,011,675.20. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R Tony Tripeny bought 900 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average cost of $113.69 per share, for a total transaction of $102,321.00. Following the acquisition, the director directly owned 6,298 shares in the company, valued at approximately $716,019.62. The trade was a 16.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 15,370 shares of company stock worth $1,570,213. Insiders own 2.80% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on MLAB. Weiss Ratings upgraded shares of Mesa Laboratories from a "sell (d)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Wells Fargo & Company upped their price target on shares of Mesa Laboratories from $94.00 to $110.00 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Finally, Wall Street Zen lowered Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $110.00.

Mesa Laboratories 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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