Key Points
- Chairman Nishan Vartanian sold 20,000 MSA Safety shares at an average price of $193.99, generating approximately $3.88 million. The sale reduced his holdings by 28.44%, leaving him with 50,324 shares.
- MSA Safety exceeded quarterly expectations, reporting EPS of $2.40 versus the $2.14 consensus and revenue of $503.33 million, up 6.2% year over year.
- The company declared a quarterly dividend of $0.54 per share, equivalent to an annualized $2.16 payout and a 1.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $211.33.
MSA Safety Incorporporated (NYSE:MSA - Get Free Report) Chairman Nishan Vartanian sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $193.99, for a total transaction of $3,879,800.00. Following the sale, the chairman owned 50,324 shares in the company, valued at approximately $9,762,352.76. The trade was a 28.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
MSA Safety Incorporporated Price Performance
Shares of NYSE:MSA opened at $193.44 on Wednesday. The company has a market capitalization of $7.46 billion, a P/E ratio of 24.06 and a beta of 0.94. MSA Safety Incorporporated has a 1-year low of $151.10 and a 1-year high of $208.92. The firm's 50 day simple moving average is $171.94 and its two-hundred day simple moving average is $175.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.24 and a quick ratio of 2.02.
MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.26. The firm had revenue of $503.33 million during the quarter, compared to analysts' expectations of $496.27 million. MSA Safety Incorporporated had a net margin of 16.13% and a return on equity of 25.13%. The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 earnings per share. Research analysts expect that MSA Safety Incorporporated will post 9.23 EPS for the current fiscal year.
MSA Safety Incorporporated Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.16 annualized dividend and a yield of 1.1%. MSA Safety Incorporporated's dividend payout ratio is currently 26.87%.
Institutional Investors Weigh In On MSA Safety Incorporporated
Hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its holdings in MSA Safety Incorporporated by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock valued at $25,000 after buying an additional 126 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of MSA Safety Incorporporated by 109.3% during the 1st quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock worth $26,000 after acquiring an additional 82 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of MSA Safety Incorporporated during the 2nd quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its position in shares of MSA Safety Incorporporated by 94.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 96 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of MSA Safety Incorporporated in the fourth quarter valued at $57,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Wall Street Zen cut MSA Safety Incorporporated from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. B. Riley Financial lowered MSA Safety Incorporporated from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $210.00 to $195.00 in a research note on Monday, August 3rd. Weiss Ratings upgraded MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday. DA Davidson set a $223.00 target price on MSA Safety Incorporporated in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped their price target on MSA Safety Incorporporated from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $211.33.
View Our Latest Analysis 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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
