Mesa Laboratories, Inc. (MLAB) to Issue $0.16 Quarterly Dividend
Mesa Laboratories, Inc. (NASDAQ:MLAB) declared a quarterly dividend on Thursday, July 6th, Wall Street Journal reports. Investors of record on Thursday, August 31st will be paid a dividend of 0.16 per share by the medical instruments supplier on Friday, September 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Tuesday, August 29th.
Mesa Laboratories has raised its dividend payment by an average of 3.9% annually over the last three years. Mesa Laboratories has a dividend payout ratio of 14.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Mesa Laboratories to earn $3.78 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 16.9%.
Shares of Mesa Laboratories (NASDAQ MLAB) traded down 0.31% during trading on Thursday, hitting $141.55. 15,379 shares of the company were exchanged. The firm has a market capitalization of $528.97 million, a PE ratio of 48.64 and a beta of 0.46. The firm’s 50-day moving average price is $146.98 and its 200 day moving average price is $131.82. Mesa Laboratories has a 12 month low of $102.14 and a 12 month high of $169.81.
Mesa Laboratories (NASDAQ:MLAB) last issued its quarterly earnings results on Wednesday, June 7th. The medical instruments supplier reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. The company had revenue of $24.30 million during the quarter, compared to analyst estimates of $27.10 million. Mesa Laboratories had a net margin of 11.94% and a return on equity of 17.67%. On average, equities research analysts expect that Mesa Laboratories will post $3.06 earnings per share for the current fiscal year.
In other Mesa Laboratories news, Director David M. Kelly sold 1,000 shares of Mesa Laboratories stock in a transaction on Monday, June 12th. The shares were sold at an average price of $142.00, for a total transaction of $142,000.00. Following the sale, the director now owns 4,750 shares of the company’s stock, valued at approximately $674,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenn E. Adriance sold 4,000 shares of Mesa Laboratories stock in a transaction on Friday, June 9th. The stock was sold at an average price of $148.98, for a total transaction of $595,920.00. Following the sale, the insider now directly owns 10,000 shares in the company, valued at approximately $1,489,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,150 shares of company stock worth $2,292,899. 17.00% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research raised shares of Mesa Laboratories from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Tuesday, June 13th.
About Mesa Laboratories
Mesa Laboratories, Inc is focused primarily on quality control products and services. The Company operates through four segments: Instruments, Continuous Monitoring, Biological Indicators and Cold Chain. The Instruments Division designs, manufactures and markets quality control instruments and disposable products.
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