MSA Safety (NYSE:MSA) Reaches New 12-Month High on Better-Than-Expected Earnings

MSA Safety Incorporated (NYSE:MSA) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $159.24 and last traded at $156.92, with a volume of 541424 shares traded. The stock had previously closed at $154.26.

The industrial products company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. MSA Safety had a return on equity of 28.64% and a net margin of 15.76%. The business had revenue of $421.34 million for the quarter, compared to analysts’ expectations of $402.60 million. During the same quarter in the prior year, the business earned $1.61 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MSA shares. B. Riley reaffirmed a “buy” rating and set a $195.00 target price (down previously from $200.00) on shares of MSA Safety in a report on Thursday. Robert W. Baird decreased their target price on MSA Safety from $175.00 to $161.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MSA Safety currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.20.

Insider Buying and Selling

In related news, CAO Jonathan D. Buck sold 717 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $159.00, for a total value of $114,003.00. Following the transaction, the chief accounting officer now owns 3,673 shares in the company, valued at approximately $584,007. This trade represents a 16.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On MSA Safety

Large investors have recently bought and sold shares of the company. MQS Management LLC acquired a new position in shares of MSA Safety in the 1st quarter valued at approximately $883,000. Speece Thorson Capital Group Inc. acquired a new position in MSA Safety during the first quarter valued at approximately $10,894,000. Louisiana State Employees Retirement System raised its position in MSA Safety by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 11,000 shares of the industrial products company’s stock valued at $1,614,000 after purchasing an additional 100 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in MSA Safety by 3.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 10,163 shares of the industrial products company’s stock worth $1,491,000 after purchasing an additional 348 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of MSA Safety by 13.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 82,418 shares of the industrial products company’s stock valued at $12,090,000 after purchasing an additional 9,593 shares in the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

MSA Safety Stock Performance

The company has a current ratio of 2.79, a quick ratio of 1.76 and a debt-to-equity ratio of 0.42. The company has a market cap of $6.12 billion, a P/E ratio of 21.61 and a beta of 0.97. The company has a 50 day moving average price of $149.71 and a 200-day moving average price of $161.59.

About MSA Safety

MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide.