Bank of New York Mellon Corp cut its holdings in MSA Safety Inc (NYSE:MSA) by 18.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 946,390 shares of the industrial products company’s stock after selling 209,754 shares during the quarter. Bank of New York Mellon Corp owned about 2.46% of MSA Safety worth $91,176,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of MSA Safety in the second quarter worth about $887,000. Millennium Management LLC purchased a new position in shares of MSA Safety in the second quarter worth about $7,281,000. Federated Investors Inc. PA raised its stake in shares of MSA Safety by 62.8% in the second quarter. Federated Investors Inc. PA now owns 133,402 shares of the industrial products company’s stock worth $12,852,000 after purchasing an additional 51,455 shares during the last quarter. Strs Ohio raised its stake in shares of MSA Safety by 50.0% in the second quarter. Strs Ohio now owns 3,000 shares of the industrial products company’s stock worth $289,000 after purchasing an additional 1,000 shares during the last quarter. Finally, MetLife Investment Advisors LLC raised its stake in shares of MSA Safety by 4.0% in the second quarter. MetLife Investment Advisors LLC now owns 36,977 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 1,431 shares during the last quarter. Institutional investors own 71.69% of the company’s stock.
Shares of MSA stock opened at $107.38 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.19 and a quick ratio of 1.59. The company has a market cap of $4.18 billion, a P/E ratio of 27.75 and a beta of 1.29. MSA Safety Inc has a twelve month low of $71.47 and a twelve month high of $110.66.
MSA Safety (NYSE:MSA) last announced its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.11. The company had revenue of $331.10 million during the quarter, compared to analysts’ expectations of $325.53 million. MSA Safety had a return on equity of 28.12% and a net margin of 4.94%. As a group, equities analysts predict that MSA Safety Inc will post 4.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Wednesday, November 14th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, November 13th. MSA Safety’s dividend payout ratio is currently 39.28%.
Several research analysts have recently issued reports on MSA shares. Stifel Nicolaus raised their price objective on MSA Safety from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. ValuEngine upgraded MSA Safety from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $100.00.
In related news, CFO Kenneth D. Krause sold 1,572 shares of MSA Safety stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $107.00, for a total transaction of $168,204.00. Following the completion of the transaction, the chief financial officer now directly owns 18,721 shares in the company, valued at $2,003,147. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas K. Mcclaine sold 10,568 shares of MSA Safety stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $106.61, for a total value of $1,126,654.48. Following the transaction, the insider now owns 32,499 shares of the company’s stock, valued at $3,464,718.39. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.
MSA Safety Company Profile
MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. It operates through Americas and International segments. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air.
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