Mesa Laboratories (NASDAQ:MLAB) Sees Large Volume Increase - Here's What Happened

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares saw an uptick in trading volume on Thursday . 162,103 shares were traded during mid-day trading, an increase of 298% from the previous session's volume of 40,759 shares.The stock last traded at $98.92 and had previously closed at $100.93.

Wall Street Analysts Forecast Growth

MLAB has been the topic of a number of research reports. Wall Street Zen cut Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company dropped their price target on Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th.

Mesa Laboratories Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.53 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $113.27 and a two-hundred day moving average price of $126.31. The firm has a market capitalization of $567.27 million, a price-to-earnings ratio of -2.25 and a beta of 0.88.

Mesa Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Friday, May 30th. Mesa Laboratories's dividend payout ratio is presently -172.97%.

Insider Transactions at Mesa Laboratories

In other news, CEO Gary M. Owens sold 21,000 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $123.91, for a total value of $2,602,110.00. Following the sale, the chief executive officer now owns 43,337 shares of the company's stock, valued at approximately $5,369,887.67. The trade was a 32.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.40% of the company's stock.

Institutional Trading of Mesa Laboratories

A number of hedge funds and other institutional investors have recently modified their holdings of MLAB. State of Wyoming raised its position in shares of Mesa Laboratories by 501.4% during the first quarter. State of Wyoming now owns 427 shares of the medical instruments supplier's stock worth $51,000 after purchasing an additional 356 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Mesa Laboratories during the first quarter worth $67,000. Amundi raised its position in shares of Mesa Laboratories by 81.6% during the fourth quarter. Amundi now owns 661 shares of the medical instruments supplier's stock worth $91,000 after purchasing an additional 297 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of Mesa Laboratories in the 4th quarter valued at approximately $92,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Mesa Laboratories in the 4th quarter valued at approximately $132,000. Institutional investors own 90.60% of the company's stock.

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.