Diamond Hill Capital Management LLC Investment Advisor Takes Position in Mesa Laboratories, Inc. $MLAB

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 155,771 shares of the medical instruments supplier’s stock, valued at approximately $15,507,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its holdings in Mesa Laboratories by 802.9% in the 1st quarter. Renaissance Technologies LLC now owns 31,600 shares of the medical instruments supplier’s stock valued at $2,794,000 after purchasing an additional 28,100 shares in the last quarter. Irenic Capital Management LP purchased a new stake in shares of Mesa Laboratories during the fourth quarter worth about $1,962,000. Diamond Hill Capital Management Inc. raised its position in shares of Mesa Laboratories by 15.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier’s stock valued at $11,145,000 after buying an additional 18,592 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Mesa Laboratories by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 60,724 shares of the medical instruments supplier’s stock valued at $4,767,000 after buying an additional 6,750 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new position in shares of Mesa Laboratories during the first quarter valued at approximately $4,530,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Mesa Laboratories Stock Performance

NASDAQ:MLAB opened at $106.04 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $593.82 million, a P/E ratio of 126.24 and a beta of 0.92. Mesa Laboratories, Inc. has a fifty-two week low of $58.83 and a fifty-two week high of $115.52. The firm’s 50 day moving average is $100.64 and its two-hundred day moving average is $96.07.

Mesa Laboratories (NASDAQ:MLAB) last announced its quarterly earnings data on Monday, August 10th. The medical instruments supplier reported $2.68 earnings per share (EPS) for the quarter. The company had revenue of $60.14 million during the quarter. Mesa Laboratories had a net margin of 1.92% and a return on equity of 22.72%.

Mesa Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be issued a $0.16 dividend. The ex-dividend date is Monday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 0.6%. Mesa Laboratories’s dividend payout ratio (DPR) is presently 76.19%.

Insider Buying and Selling at Mesa Laboratories

In other news, CAO Lyndsey Elizabeth Crennen sold 442 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $89.50, for a total value of $39,559.00. Following the transaction, the chief accounting officer directly owned 2,020 shares in the company, valued at $180,790. This trade represents a 17.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Brian David Archbold sold 2,516 shares of Mesa Laboratories stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total value of $225,182.00. Following the completion of the transaction, the senior vice president directly owned 6,377 shares in the company, valued at $570,741.50. This represents a 28.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 8,277 shares of company stock valued at $770,122. Company insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MLAB shares. Weiss Ratings upgraded shares of Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Wells Fargo & Company raised their price objective on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $110.00.

Mesa Laboratories Profile

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.