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

Mesa Laboratories, Inc. (NASDAQ:MLAB - Get Free Report) shares saw unusually-high trading volume on Monday . 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.

Analyst Ratings Changes

Several brokerages recently issued reports on MLAB. Wall Street Zen cut 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 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.

Mesa Laboratories Trading Down 1.0%

The firm has a market capitalization of $502.43 million, a PE ratio of -248.70 and a beta of 0.86. 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's 50-day moving average price is $106.59 and its 200-day moving average price is $122.22.

Mesa Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Friday, August 29th. Mesa Laboratories's dividend payout ratio is presently -172.97%.

Insider Transactions at Mesa Laboratories

In related news, SVP Brian David Archbold sold 472 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 value of $45,840.64. Following the sale, the senior vice president directly owned 558 shares in the company, valued at $54,192.96. The trade was a 45.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary M. Owens sold 1,939 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 45,824 shares of the company's stock, valued at approximately $4,450,426.88. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,053 shares of company stock valued at $296,507. Corporate insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Mesa Laboratories during the 4th quarter worth approximately $32,677,000. Amundi raised its stake in 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. Diamond Hill Capital Management Inc. acquired a new stake in Mesa Laboratories during the fourth quarter worth about $3,512,000. American Century Companies Inc. lifted its position in Mesa Laboratories by 99.0% during the fourth quarter. American Century Companies Inc. now owns 9,444 shares of the medical instruments supplier's stock valued at $1,245,000 after buying an additional 4,698 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Mesa Laboratories by 246.2% during the fourth quarter. Sei Investments Co. now owns 5,411 shares of the medical instruments supplier's stock worth $714,000 after purchasing an additional 3,848 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.