AEGON ASSET MANAGEMENT UK Plc Trims Stake in MSA Safety Incorporporated $MSA

AEGON ASSET MANAGEMENT UK Plc cut its stake in MSA Safety Incorporporated (NYSE:MSA) by 67.1% in the first quarter, HoldingsChannel reports. The fund owned 24,887 shares of the industrial products company’s stock after selling 50,835 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in MSA Safety Incorporporated were worth $4,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Comerica Bank increased its holdings in shares of MSA Safety Incorporporated by 30.6% during the 4th quarter. Comerica Bank now owns 103,450 shares of the industrial products company’s stock valued at $16,567,000 after purchasing an additional 24,260 shares in the last quarter. Citigroup Inc. lifted its stake in shares of MSA Safety Incorporporated by 123.6% in the 3rd quarter. Citigroup Inc. now owns 46,775 shares of the industrial products company’s stock valued at $8,049,000 after purchasing an additional 25,856 shares during the period. Victory Capital Management Inc. boosted its holdings in MSA Safety Incorporporated by 4,827.4% during the third quarter. Victory Capital Management Inc. now owns 338,411 shares of the industrial products company’s stock worth $58,230,000 after buying an additional 331,543 shares in the last quarter. Quantbot Technologies LP acquired a new stake in MSA Safety Incorporporated during the third quarter valued at $1,381,000. Finally, Royce & Associates LP grew its position in MSA Safety Incorporporated by 11.4% during the fourth quarter. Royce & Associates LP now owns 95,838 shares of the industrial products company’s stock valued at $15,347,000 after buying an additional 9,840 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analyst Ratings Changes

MSA has been the subject of a number of recent analyst reports. DA Davidson cut their price objective on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings lowered shares of MSA Safety Incorporporated from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Robert W. Baird set a $197.00 target price on MSA Safety Incorporporated in a research report on Wednesday, May 6th. Wall Street Zen upgraded MSA Safety Incorporporated from a “hold” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $180.00 price target (down from $200.00) on shares of MSA Safety Incorporporated in a report on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $200.00.

Insiders Place Their Bets

In related news, CFO Julie A. Beck purchased 448 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $158.69 per share, with a total value of $71,093.12. Following the purchase, the chief financial officer owned 3,825 shares of the company’s stock, valued at $606,989.25. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

MSA Safety Incorporporated Price Performance

Shares of NYSE MSA opened at $164.32 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.92 and a current ratio of 3.17. The firm has a fifty day moving average of $167.56 and a 200 day moving average of $173.37. The firm has a market cap of $6.34 billion, a PE ratio of 22.21 and a beta of 0.96. MSA Safety Incorporporated has a one year low of $151.10 and a one year high of $208.92.

MSA Safety Incorporporated (NYSE:MSA) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The business had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. During the same period last year, the firm posted $1.68 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that MSA Safety Incorporporated will post 8.86 EPS for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.54 per share. This is a boost from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 15th. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. MSA Safety Incorporporated’s payout ratio is currently 29.19%.

MSA Safety Incorporporated declared that its Board of Directors has approved a share repurchase plan on Thursday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.