Cornercap Investment Counsel Inc. Purchases Shares of 3,797 Mesa Laboratories, Inc. (NASDAQ:MLAB)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,797 shares of the medical instruments supplier’s stock, valued at approximately $493,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Mesa Laboratories in the 2nd quarter worth approximately $26,000. EntryPoint Capital LLC boosted its stake in shares of Mesa Laboratories by 35.2% in the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after buying an additional 193 shares during the last quarter. Berry Wealth Group LP purchased a new position in shares of Mesa Laboratories in the 3rd quarter worth approximately $204,000. Amalgamated Bank raised its holdings in shares of Mesa Laboratories by 6.5% in the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after purchasing an additional 97 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in shares of Mesa Laboratories in the 2nd quarter worth approximately $183,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MLAB. Evercore ISI lifted their price target on shares of Mesa Laboratories from $120.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. StockNews.com cut shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company assumed coverage on shares of Mesa Laboratories in a report on Tuesday, August 27th. They set an “underweight” rating and a $120.00 target price on the stock.

Mesa Laboratories Stock Down 2.1 %

MLAB opened at $102.44 on Friday. The company has a fifty day moving average price of $123.21 and a 200-day moving average price of $114.92. The firm has a market capitalization of $556.22 million, a P/E ratio of -2.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.70 and a quick ratio of 0.51. Mesa Laboratories, Inc. has a one year low of $83.68 and a one year high of $141.17.

Mesa Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 annualized dividend and a yield of 0.62%. Mesa Laboratories’s dividend payout ratio (DPR) is presently -1.40%.

Insider Buying and Selling

In other Mesa Laboratories news, SVP Brian David Archbold sold 1,499 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary M. Owens sold 2,518 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $113.62, for a total transaction of $286,095.16. Following the sale, the chief executive officer now owns 45,888 shares of the company’s stock, valued at approximately $5,213,794.56. The trade was a 5.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

About Mesa Laboratories

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.