Glenmede Trust Co. NA Lowers Position in Mesa Laboratories, Inc. (NASDAQ:MLAB)

Glenmede Trust Co. NA trimmed its position in shares of Mesa Laboratories, Inc. (NASDAQ:MLAB) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,334 shares of the medical instruments supplier’s stock after selling 1,442 shares during the quarter. Glenmede Trust Co. NA’s holdings in Mesa Laboratories were worth $12,640,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MLAB. Canada Pension Plan Investment Board purchased a new stake in Mesa Laboratories in the 2nd quarter valued at approximately $26,000. FMR LLC boosted its stake in shares of Mesa Laboratories by 34.1% in the third quarter. FMR LLC now owns 393 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 100 shares in the last quarter. Quantbot Technologies LP acquired a new position in Mesa Laboratories during the third quarter worth $70,000. Sanctuary Advisors LLC purchased a new position in Mesa Laboratories in the second quarter worth $183,000. Finally, Berry Wealth Group LP acquired a new stake in Mesa Laboratories in the third quarter valued at $204,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Mesa Laboratories Price Performance

Shares of NASDAQ MLAB opened at $117.14 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $120.64 and its 200 day moving average price is $114.55. Mesa Laboratories, Inc. has a 52 week low of $83.68 and a 52 week high of $141.17. The stock has a market cap of $636.07 million, a price-to-earnings ratio of -2.57 and a beta of 0.87.

Mesa Laboratories Announces Dividend

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 given a $0.16 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.64 annualized dividend and a dividend yield of 0.55%. Mesa Laboratories’s dividend payout ratio is presently -1.40%.

Insider Transactions at Mesa Laboratories

In other news, SVP Brian David Archbold sold 1,499 shares of Mesa Laboratories 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary M. Owens sold 2,518 shares of the company’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 transaction of $286,095.16. Following the transaction, the chief executive officer now directly owns 45,888 shares in the company, valued at $5,213,794.56. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

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.