Mesa Laboratories, Inc. (NASDAQ:MLAB) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its stake in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,334 shares of the medical instruments supplier’s stock after selling 1,442 shares during the period. Glenmede Trust Co. NA owned approximately 1.79% of Mesa Laboratories worth $12,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in Mesa Laboratories during the 2nd quarter worth about $26,000. FMR LLC lifted its position in shares of Mesa Laboratories by 34.1% during the third quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock worth $51,000 after purchasing an additional 100 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Mesa Laboratories in the third quarter valued at approximately $70,000. Sanctuary Advisors LLC acquired a new position in shares of Mesa Laboratories in the second quarter valued at approximately $183,000. Finally, Berry Wealth Group LP purchased a new stake in Mesa Laboratories during the 3rd quarter worth approximately $204,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Mesa Laboratories Trading Down 1.0 %

NASDAQ:MLAB opened at $117.14 on Friday. The stock has a 50-day simple moving average of $120.64 and a 200-day simple moving average of $114.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. The stock has a market cap of $636.07 million, a P/E ratio of -2.57 and a beta of 0.87. Mesa Laboratories, Inc. has a 1 year low of $83.68 and a 1 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. Stockholders of record on Friday, November 29th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, November 29th. Mesa Laboratories’s payout ratio is -1.40%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MLAB. Wells Fargo & Company initiated coverage on shares of Mesa Laboratories in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price target for the company. StockNews.com cut Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI increased their price target on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st.

Insider Buying and Selling

In related news, SVP Brian David Archbold sold 1,499 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $125.00, for a total transaction of $187,375.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gary M. Owens sold 2,518 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $113.62, for a total value of $286,095.16. Following the completion of the sale, the chief executive officer now owns 45,888 shares of the company’s stock, valued at approximately $5,213,794.56. This represents a 5.20 % decrease in their position. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.

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.