Cornercap Investment Counsel Inc. Makes New $493,000 Investment in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Cornercap Investment Counsel Inc. purchased a new position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,797 shares of the medical instruments supplier’s stock, valued at approximately $493,000. Cornercap Investment Counsel Inc. owned 0.07% of Mesa Laboratories at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Mesa Laboratories in the 2nd quarter valued at approximately $26,000. EntryPoint Capital LLC boosted its stake in shares of Mesa Laboratories by 35.2% during the 1st quarter. EntryPoint Capital LLC now owns 741 shares of the medical instruments supplier’s stock worth $81,000 after acquiring an additional 193 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Mesa Laboratories during the 2nd quarter worth approximately $183,000. Berry Wealth Group LP bought a new position in shares of Mesa Laboratories during the 3rd quarter worth approximately $204,000. Finally, Amalgamated Bank boosted its stake in shares of Mesa Laboratories by 6.5% during the 3rd quarter. Amalgamated Bank now owns 1,588 shares of the medical instruments supplier’s stock worth $206,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insiders Place Their Bets

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

Mesa Laboratories Price Performance

Mesa Laboratories stock opened at $102.44 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.70. Mesa Laboratories, Inc. has a 52 week low of $83.68 and a 52 week high of $141.17. The stock has a market capitalization of $556.22 million, a P/E ratio of -2.25 and a beta of 0.87. The stock has a fifty day moving average of $123.21 and a 200-day moving average of $114.92.

Mesa Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. Mesa Laboratories’s dividend payout ratio (DPR) is currently -1.40%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MLAB shares. StockNews.com downgraded Mesa Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Evercore ISI boosted their price target on Mesa Laboratories from $120.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company began coverage on Mesa Laboratories in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $120.00 price target for the company.

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.