Diamond Hill Capital Management LLC Investment Advisor Makes New Investment in Mesa Laboratories, Inc. $MLAB

Diamond Hill Capital Management LLC Investment Advisor bought a new position in Mesa Laboratories, Inc. (NASDAQ:MLAB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 155,771 shares of the medical instruments supplier’s stock, valued at approximately $15,507,000. Diamond Hill Capital Management LLC Investment Advisor owned 2.78% of Mesa Laboratories as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MLAB. Renaissance Technologies LLC lifted its position in Mesa Laboratories by 802.9% in the first 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 during the period. Irenic Capital Management LP purchased a new stake in Mesa Laboratories in the 4th quarter valued at approximately $1,962,000. Diamond Hill Capital Management Inc. increased its position in Mesa Laboratories by 15.1% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 141,973 shares of the medical instruments supplier’s stock worth $11,145,000 after purchasing an additional 18,592 shares during the period. Gabelli Funds LLC increased its position in Mesa Laboratories by 12.5% during the 4th quarter. Gabelli Funds LLC now owns 60,724 shares of the medical instruments supplier’s stock worth $4,767,000 after purchasing an additional 6,750 shares during the period. Finally, Wasatch Advisors LP purchased a new position in shares of Mesa Laboratories during the 1st quarter worth approximately $4,530,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MLAB. Wall Street Zen cut Mesa Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company increased their price objective on Mesa Laboratories from $94.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Weiss Ratings upgraded Mesa Laboratories from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $110.00.

Mesa Laboratories Stock Performance

Shares of MLAB stock opened at $106.04 on Monday. The stock has a fifty day moving average price of $100.64 and a 200 day moving average price of $96.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.79. The stock has a market cap of $593.82 million, a PE ratio of 126.24 and a beta of 0.92. Mesa Laboratories, Inc. has a 1 year low of $58.83 and a 1 year high of $115.52.

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

Mesa Laboratories Dividend Announcement

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

Insider Buying and Selling at Mesa Laboratories

In other Mesa Laboratories news, CAO Lyndsey Elizabeth Crennen sold 442 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $89.50, for a total value of $39,559.00. Following the sale, the chief accounting officer owned 2,020 shares of the company’s stock, valued at $180,790. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $89.50, for a total transaction of $225,182.00. Following the completion of the sale, the senior vice president owned 6,377 shares in the company, valued at $570,741.50. This represents a 28.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 8,277 shares of company stock worth $770,122. 2.80% of the stock is owned by corporate insiders.

About Mesa Laboratories

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.