Insider Selling: MSA Safety Incorporporated (MSA) SVP Sells 5,947 Shares of Stock
MSA Safety Incorporporated (NYSE:MSA) SVP Kerry M. Bove sold 5,947 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $80.04, for a total value of $475,997.88. Following the completion of the sale, the senior vice president now directly owns 66,863 shares in the company, valued at $5,351,714.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
MSA Safety Incorporporated (NYSE:MSA) last announced its earnings results on Thursday, October 19th. The industrial products company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.13. MSA Safety Incorporporated had a return on equity of 20.56% and a net margin of 7.32%. The firm had revenue of $296.13 million for the quarter, compared to the consensus estimate of $298.47 million. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, November 13th. This represents a $1.40 annualized dividend and a yield of 1.77%. MSA Safety Incorporporated’s dividend payout ratio (DPR) is 64.52%.
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A number of hedge funds have recently made changes to their positions in the stock. Morgan Dempsey Capital Management LLC grew its stake in MSA Safety Incorporporated by 15.6% during the 3rd quarter. Morgan Dempsey Capital Management LLC now owns 72,435 shares of the industrial products company’s stock worth $5,700,000 after buying an additional 9,781 shares during the last quarter. Principal Financial Group Inc. grew its stake in MSA Safety Incorporporated by 7.5% during the 3rd quarter. Principal Financial Group Inc. now owns 914,562 shares of the industrial products company’s stock worth $72,717,000 after buying an additional 63,465 shares during the last quarter. Chicago Equity Partners LLC grew its stake in MSA Safety Incorporporated by 18.0% during the 3rd quarter. Chicago Equity Partners LLC now owns 15,965 shares of the industrial products company’s stock worth $1,269,000 after buying an additional 2,435 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in MSA Safety Incorporporated during the 3rd quarter worth $311,000. Finally, Channing Capital Management LLC grew its stake in MSA Safety Incorporporated by 3.7% during the 3rd quarter. Channing Capital Management LLC now owns 796,373 shares of the industrial products company’s stock worth $63,320,000 after buying an additional 28,334 shares during the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.
A number of equities research analysts have recently commented on MSA shares. BidaskClub cut MSA Safety Incorporporated from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating and issued a $91.00 target price on shares of MSA Safety Incorporporated in a research note on Friday, August 4th. Zacks Investment Research cut MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Robert W. Baird cut MSA Safety Incorporporated from an “outperform” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research report on Tuesday, October 3rd. Finally, Barrington Research reaffirmed a “market perform” rating on shares of MSA Safety Incorporporated in a research report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $89.75.
About MSA Safety Incorporporated
Mine Safety Appliances Company is engaged in the development, manufacture and supply of products that protect people’s health and safety. The Company’s line of safety products is used by workers worldwide in the fire service, homeland security, oil and gas, construction and other industries, as well as the military.
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