Mesa Laboratories, Inc. (NASDAQ:MLAB) to Issue Quarterly Dividend of $0.16

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) declared a quarterly dividend on Monday, July 7th, Wall Street Journal reports. Investors of record on Friday, August 29th will be paid a dividend of 0.16 per share by the medical instruments supplier on Monday, September 15th. This represents a $0.64 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, August 29th.

Mesa Laboratories has a dividend payout ratio of 5.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mesa Laboratories to earn $8.72 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 7.3%.

Mesa Laboratories Stock Performance

Shares of Mesa Laboratories stock traded down $10.46 during mid-day trading on Monday, hitting $92.94. 298,657 shares of the stock were exchanged, compared to its average volume of 54,750. Mesa Laboratories has a 12 month low of $87.80 and a 12 month high of $155.12. The company has a 50-day simple moving average of $107.10 and a 200 day simple moving average of $122.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.63. The company has a market capitalization of $507.45 million, a P/E ratio of -251.19 and a beta of 0.86.

Wall Street Analyst Weigh In

Several equities analysts have commented 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 dropped their target price on shares of Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th.

Insider Buying and Selling

In related news, CEO Gary M. Owens sold 1,939 shares of Mesa Laboratories stock in a transaction that occurred on Monday, June 16th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO John Sakys sold 642 shares of Mesa Laboratories 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 $62,351.04. Following the completion of the sale, the chief financial officer directly owned 12,865 shares in the company, valued at $1,249,448.80. This trade represents a 4.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,053 shares of company stock valued at $296,507. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mesa Laboratories

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in 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 valued at $3,652,000 after buying an additional 353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 valued at $2,370,000 after buying an additional 685 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in 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 valued at $364,000 after buying an additional 143 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Mesa Laboratories in the 1st quarter valued at approximately $335,000. Institutional investors own 90.60% of the company's stock.

About Mesa Laboratories

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.