Kings Path Partners LLC Trims Holdings in Mesa Laboratories, Inc. $MLAB

Kings Path Partners LLC reduced its holdings in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 18.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,405 shares of the medical instruments supplier’s stock after selling 756 shares during the quarter. Kings Path Partners LLC’s holdings in Mesa Laboratories were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of Mesa Laboratories by 18.7% during the 1st quarter. SG Americas Securities LLC now owns 2,461 shares of the medical instruments supplier’s stock valued at $292,000 after buying an additional 388 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Mesa Laboratories during the 4th quarter valued at approximately $293,000. Principal Financial Group Inc. boosted its stake in shares of Mesa Laboratories by 13.8% during the 1st quarter. Principal Financial Group Inc. now owns 43,659 shares of the medical instruments supplier’s stock valued at $5,181,000 after buying an additional 5,300 shares during the last quarter. US Bancorp DE boosted its stake in shares of Mesa Laboratories by 48.3% during the 1st quarter. US Bancorp DE now owns 1,323 shares of the medical instruments supplier’s stock valued at $157,000 after buying an additional 431 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Mesa Laboratories by 91.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,292 shares of the medical instruments supplier’s stock valued at $2,544,000 after buying an additional 9,189 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Mesa Laboratories Stock Down 2.3%

Shares of NASDAQ:MLAB opened at $61.66 on Friday. The stock has a market capitalization of $339.13 million, a price-to-earnings ratio of -440.43 and a beta of 0.82. Mesa Laboratories, Inc. has a 1-year low of $55.45 and a 1-year high of $155.12. The company’s fifty day moving average is $71.27 and its two-hundred day moving average is $99.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.47 and a current ratio of 0.66.

Mesa Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 29th. Mesa Laboratories’s dividend payout ratio (DPR) is presently -457.14%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MLAB. Wells Fargo & Company upgraded Mesa Laboratories from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $100.00 to $67.00 in a research note on Thursday, August 7th. Zacks Research upgraded shares of Mesa Laboratories from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Wall Street Zen cut shares of Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $113.50.

Insider Buying and Selling at Mesa Laboratories

In other Mesa Laboratories news, CEO Gary M. Owens sold 1,939 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $97.12, for a total value of $188,315.68. Following the sale, the chief executive officer directly owned 45,824 shares in the company, valued at approximately $4,450,426.88. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Brian David Archbold sold 472 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $97.12, for a total value of $45,840.64. Following the completion of the sale, the senior vice president owned 558 shares in the company, valued at $54,192.96. The trade was a 45.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,053 shares of company stock worth $296,507. 4.90% of the stock is owned by 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.