Renaissance Technologies LLC Has $2.79 Million Holdings in Mesa Laboratories, Inc. $MLAB

Key Points

• Renaissance Technologies increased its Mesa Laboratories stake by 802.9% in the first quarter, owning 31,600 shares worth approximately $2.79 million. Institutional investors collectively hold 90.6% of MLAB’s stock.
• 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, respectively. The stock was recently priced at $102.65, above the consensus target of $94.
• The company declared a quarterly dividend of $0.16 per share, equating to an annualized dividend of $0.64 and a 0.6% yield. Analysts maintain a consensus “Reduce” rating, while insiders have sold 8,277 shares worth about $770,000 over the past 90 days.

Renaissance Technologies LLC increased its position in Mesa Laboratories, Inc. (NASDAQ:MLAB - Free Report) by 802.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,600 shares of the medical instruments supplier's stock after acquiring an additional 28,100 shares during the quarter. Renaissance Technologies LLC owned about 0.57% of Mesa Laboratories worth $2,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MLAB. Northwestern Mutual Wealth Management Co. boosted its holdings in Mesa Laboratories by 5,366.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 328 shares of the medical instruments supplier's stock valued at $26,000 after acquiring an additional 322 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Mesa Laboratories in the fourth quarter worth about $27,000. Kestra Advisory Services LLC acquired a new position in shares of Mesa Laboratories during the 4th quarter worth about $55,000. BNP Paribas Financial Markets lifted its position in shares of Mesa Laboratories by 115.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 786 shares of the medical instruments supplier's stock worth $74,000 after purchasing an additional 421 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Mesa Laboratories by 432.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 842 shares of the medical instruments supplier's stock valued at $79,000 after purchasing an additional 684 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

Mesa Laboratories Price Performance

MLAB stock opened at $102.65 on Monday. Mesa Laboratories, Inc. has a twelve month low of $58.83 and a twelve month high of $113.99. The company has a market cap of $574.84 million, a PE ratio of 85.54 and a beta of 0.92. The business's 50-day simple moving average is $100.33 and its 200 day simple moving average is $95.20. The company has a quick ratio of 1.29, a current ratio of 1.72 and a debt-to-equity ratio of 0.78.

Mesa Laboratories (NASDAQ:MLAB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The medical instruments supplier reported $1.53 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $65.21 million. During the same period last year, the company earned ($1.31) EPS.

Mesa Laboratories Dividend Announcement

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

Insider Activity at Mesa Laboratories

In other Mesa Laboratories news, SVP Brian David Archbold sold 2,516 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total value of $225,182.00. Following the sale, the senior vice president owned 6,377 shares of the company's stock, valued at $570,741.50. The trade was a 28.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lyndsey Elizabeth Crennen sold 442 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $39,559.00. Following the completion of the transaction, the chief accounting officer owned 2,020 shares of the company's stock, valued at approximately $180,790. This represents a 17.95% 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. Over the last ninety days, insiders sold 8,277 shares of company stock worth $770,122. 2.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

About Mesa Laboratories

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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