MSA Safety Incorporporated (NYSE:MSA) to Repurchase $500.00 million in Shares

MSA Safety Incorporporated (NYSE:MSA) declared that its Board of Directors has authorized a stock buyback program on Thursday, February 26th, RTT News reports. The company plans to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 6.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

MSA Safety Incorporporated Stock Performance

NYSE MSA opened at $195.69 on Friday. The company has a quick ratio of 1.82, a current ratio of 3.01 and a debt-to-equity ratio of 0.42. MSA Safety Incorporporated has a twelve month low of $127.86 and a twelve month high of $208.92. The business has a 50-day moving average price of $181.60 and a 200-day moving average price of $171.36. The firm has a market cap of $7.59 billion, a price-to-earnings ratio of 27.64 and a beta of 0.98.

MSA Safety Incorporporated (NYSE:MSA) last issued its earnings results on Wednesday, February 11th. The industrial products company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.12. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The company had revenue of $510.91 million for the quarter, compared to the consensus estimate of $508.62 million. During the same quarter last year, the company earned $2.25 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that MSA Safety Incorporporated will post 8.06 EPS for the current fiscal year.

MSA Safety Incorporporated Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 13th. MSA Safety Incorporporated’s payout ratio is 29.94%.

Analyst Upgrades and Downgrades

MSA has been the subject of several analyst reports. JPMorgan Chase & Co. initiated coverage on MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $200.00 price objective for the company. DA Davidson upped their price target on MSA Safety Incorporporated from $186.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Weiss Ratings raised MSA Safety Incorporporated from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. National Bank Financial set a $235.00 price objective on MSA Safety Incorporporated in a research note on Wednesday, February 18th. Finally, Wall Street Zen cut shares of MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.17.

Insider Buying and Selling at MSA Safety Incorporporated

In related news, CAO Jonathan D. Buck sold 1,100 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the completion of the transaction, the chief accounting officer owned 3,234 shares in the company, valued at approximately $658,054.32. This represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

MSA Safety Incorporporated Company Profile

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.