Mesa Laboratories, Inc. (MLAB) Announces $0.16 Quarterly Dividend
Mesa Laboratories, Inc. (NASDAQ:MLAB) announced a quarterly dividend on Tuesday, April 9th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be given a dividend of 0.16 per share by the medical instruments supplier on Friday, June 14th. This represents a $0.64 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Thursday, May 30th.
Mesa Laboratories has a dividend payout ratio of 9.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Mesa Laboratories to earn $8.35 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 7.7%.
MLAB opened at $230.36 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.57 and a quick ratio of 1.20. The stock has a market capitalization of $903.99 million, a price-to-earnings ratio of 37.28 and a beta of 0.37. Mesa Laboratories has a 12 month low of $146.38 and a 12 month high of $241.83.
In other news, Director David M. Kelly sold 684 shares of Mesa Laboratories stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $230.00, for a total value of $157,320.00. Following the transaction, the director now directly owns 3,584 shares of the company’s stock, valued at approximately $824,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Bradley Schmieder sold 2,500 shares of Mesa Laboratories stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $232.70, for a total value of $581,750.00. Following the completion of the transaction, the director now directly owns 75,939 shares in the company, valued at $17,671,005.30. The disclosure for this sale can be found here. Insiders sold a total of 19,842 shares of company stock worth $4,607,649 over the last ninety days. Corporate insiders own 15.00% of the company’s stock.
Several research firms have commented on MLAB. Zacks Investment Research cut Mesa Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. BidaskClub cut Mesa Laboratories from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. TheStreet raised Mesa Laboratories from a “c” rating to a “b-” rating in a research note on Friday, February 8th. Finally, Sidoti assumed coverage on Mesa Laboratories in a research note on Wednesday, March 13th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Mesa Laboratories has a consensus rating of “Buy” and an average price target of $256.00.
Mesa Laboratories Company Profile
Mesa Laboratories, Inc designs, manufactures, and markets quality control instruments and disposable products. The company's Instruments segment offers data loggers, which are precision instruments used in critical manufacturing, quality control, and validation applications; medical meters and calibration solutions used to test various parameters of the dialysis fluid, and the calibration and operation of the dialysis machine; gas flow calibration and air sampling equipment that are used for industrial hygiene assessments, calibration of gas metering equipment, and environmental air monitoring; and torque testing systems used for measure bottle cap tightness.
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