Mesa Laboratories (NASDAQ:MLAB) Sees Large Volume Increase Following Dividend Announcement

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 89,339 shares were traded during trading, an increase of 25% from the previous session's volume of 71,578 shares.The stock last traded at $95.35 and had previously closed at $103.40.

The newly announced dividend which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid 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 dividend yield of 0.71%. Mesa Laboratories's dividend payout ratio is currently -172.97%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MLAB shares. Wall Street Zen lowered shares of Mesa Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 30th. Wells Fargo & Company decreased their price target on shares of Mesa Laboratories from $120.00 to $100.00 and set an "underweight" rating for the company in a research report on Friday, May 30th.

Mesa Laboratories Trading Down 0.5%

The stock has a market cap of $493.09 million, a price-to-earnings ratio of -244.08 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.63 and a quick ratio of 0.47. The business's fifty day simple moving average is $105.60 and its 200 day simple moving average is $121.70.

Insider Activity at Mesa Laboratories

In other news, CFO John Sakys sold 642 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $62,351.04. Following the transaction, the chief financial officer owned 12,865 shares in the company, valued at $1,249,448.80. This represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brian David Archbold sold 472 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $97.12, for a total value of $45,840.64. Following the completion of the transaction, the senior vice president owned 558 shares in the company, valued at $54,192.96. This represents a 45.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,053 shares of company stock worth $296,507 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mesa Laboratories

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Mesa Laboratories during the fourth quarter worth approximately $32,677,000. Ameriprise Financial Inc. boosted its position in 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 during the period. Select Equity Group L.P. lifted its holdings in shares of Mesa Laboratories by 439.0% during the first quarter. Select Equity Group L.P. now owns 73,897 shares of the medical instruments supplier's stock worth $8,769,000 after buying an additional 60,186 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Mesa Laboratories by 1,390.4% during the fourth quarter. Jane Street Group LLC now owns 34,399 shares of the medical instruments supplier's stock worth $4,536,000 after buying an additional 32,091 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Mesa Laboratories during the fourth quarter worth approximately $3,512,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

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.