Key Points
- MSA Safety CFO Julie Beck bought 448 shares at $158.69 each, a transaction worth about $71,093, increasing her direct stake by 13.27% to 3,825 shares.
- The company reported better-than-expected quarterly results, with EPS of $1.99 versus $1.85 expected and revenue of $463.63 million, up 10% year over year.
- MSA recently raised its quarterly dividend to $0.54 per share and has an active $500 million share buyback authorization, while analysts currently rate the stock a consensus Hold with a $200 price target.
MSA Safety Incorporporated (NYSE:MSA - Get Free Report) CFO Julie Beck bought 448 shares of MSA Safety Incorporporated stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the acquisition, the chief financial officer directly owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
MSA Safety Incorporporated Trading Up 0.3%
Shares of NYSE:MSA opened at $159.94 on Friday. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 21.61 and a beta of 0.96. 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 quick ratio of 1.92 and a current ratio of 3.17. The company has a 50 day moving average price of $167.94 and a 200 day moving average price of $173.27.
MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its earnings results on Monday, May 4th. The industrial products company reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. The firm had revenue of $463.63 million during the quarter, compared to analysts' expectations of $451.28 million. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.68 earnings per share. On average, research analysts anticipate that MSA Safety Incorporporated will post 8.86 EPS for the current fiscal year.
MSA Safety Incorporporated Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.54 per share. The ex-dividend date was Friday, May 15th. This is a positive change from MSA Safety Incorporporated's previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. MSA Safety Incorporporated's payout ratio is 29.19%.
MSA Safety Incorporporated announced that its Board of Directors has authorized a share buyback program on Thursday, February 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in MSA Safety Incorporporated by 700.0% during 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 in the last quarter. Root Financial Partners LLC grew its position in MSA Safety Incorporporated by 109.3% during the first quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. eCIO Inc. purchased a new position in MSA Safety Incorporporated during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC grew its position in MSA Safety Incorporporated by 94.1% during 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 in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in MSA Safety Incorporporated during the third quarter valued at approximately $43,000. 92.51% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
MSA has been the subject of a number of research reports. Wall Street Zen upgraded shares of MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 9th. Robert W. Baird set a $197.00 target price on shares of MSA Safety Incorporporated in a research report on Wednesday, May 6th. DA Davidson dropped their target price on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. National Bank Financial set a $235.00 target price on shares of MSA Safety Incorporporated in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $200.00.
Get Our Latest Stock Report on MSA
About MSA Safety Incorporporated
(
Get Free Report)
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.
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