Legal & General Group Plc Reduces Stock Holdings in MSA Safety Incorporporated $MSA

Legal & General Group Plc decreased its position in MSA Safety Incorporporated (NYSE:MSA) by 22.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 57,051 shares of the industrial products company’s stock after selling 16,410 shares during the period. Legal & General Group Plc’s holdings in MSA Safety Incorporporated were worth $9,136,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of MSA. Brown Brothers Harriman & Co. lifted its stake in MSA Safety Incorporporated by 700.0% in the third quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 126 shares during the last quarter. eCIO Inc. purchased a new position in MSA Safety Incorporporated in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its stake in MSA Safety Incorporporated by 94.1% in the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 96 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in MSA Safety Incorporporated in the third quarter valued at approximately $43,000. Finally, Kelleher Financial Advisors purchased a new position in MSA Safety Incorporporated in the fourth quarter valued at approximately $50,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

MSA Safety Incorporporated Trading Down 2.0%

NYSE:MSA opened at $161.32 on Friday. The company has a market cap of $6.23 billion, a P/E ratio of 21.80 and a beta of 0.96. The stock’s fifty day moving average price is $168.80 and its two-hundred day moving average price is $173.22. MSA Safety Incorporporated has a 1 year low of $151.10 and a 1 year high of $208.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.17 and a quick ratio of 1.92.

MSA Safety Incorporporated (NYSE:MSA) last posted its earnings results on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The firm had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. During the same quarter in the prior year, the business posted $1.68 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, analysts expect that MSA Safety Incorporporated will post 8.86 EPS for the current year.

MSA Safety Incorporporated announced that its Board of Directors has initiated a share buyback program on Thursday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

MSA Safety Incorporporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 15th. MSA Safety Incorporporated’s dividend payout ratio (DPR) is 29.19%.

Analysts Set New Price Targets

Several research firms recently commented on MSA. Robert W. Baird set a $197.00 price objective on MSA Safety Incorporporated in a research note on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. Wall Street Zen upgraded MSA Safety Incorporporated from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded MSA Safety Incorporporated from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.00.

MSA Safety Incorporporated Profile

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.