Aberdeen Group plc Decreases Stake in MSA Safety Incorporporated $MSA

Key Points

• Aberdeen Group plc cut its stake in MSA by 29.0% in Q4 to 156,202 shares, representing about 0.40% of the company and valued at roughly $25.0 million.
• MSA's board approved a $500.00 million share buyback program that could repurchase up to 6.6% of outstanding shares, a move management said typically signals the stock is viewed as undervalued.
• MSA beat the latest quarter's estimates with $2.38 EPS (vs. $2.26 expected) and $510.9 million in revenue (vs. $508.6 million expected), while analysts hold a consensus "Hold" rating and an average target of $203.14.

Aberdeen Group plc lowered its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,202 shares of the industrial products company's stock after selling 63,733 shares during the period. Aberdeen Group plc owned 0.40% of MSA Safety Incorporporated worth $25,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MSA. Cooke & Bieler LP raised its holdings in shares of MSA Safety Incorporporated by 1.3% during the third quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock worth $141,892,000 after purchasing an additional 10,858 shares during the last quarter. New York State Common Retirement Fund lifted its position in MSA Safety Incorporporated by 2.4% during the third quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock valued at $26,893,000 after purchasing an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in MSA Safety Incorporporated in the third quarter valued at $782,000. Alps Advisors Inc. acquired a new stake in MSA Safety Incorporporated during the 3rd quarter worth about $15,282,000. Finally, Invesco Ltd. raised its stake in shares of MSA Safety Incorporporated by 6.8% during the 2nd quarter. Invesco Ltd. now owns 449,136 shares of the industrial products company's stock valued at $75,244,000 after buying an additional 28,481 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MSA Safety Incorporporated

In other news, CAO Jonathan D. Buck sold 1,100 shares of the stock in a transaction on Tuesday, February 17th. The stock was 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 directly owned 3,234 shares in the company, valued at approximately $658,054.32. This represents a 25.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Stock Performance

NYSE:MSA opened at $164.94 on Monday. The company has a current ratio of 3.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.42. The company's 50-day moving average price is $184.17 and its 200-day moving average price is $172.37. The company has a market cap of $6.40 billion, a P/E ratio of 23.30 and a beta of 1.05. MSA Safety Incorporporated has a twelve month low of $127.86 and a twelve month high of $208.92.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.26 by $0.12. The firm had revenue of $510.91 million for the quarter, compared to the consensus estimate of $508.62 million. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 earnings per share. On average, sell-side analysts forecast that MSA Safety Incorporporated will post 8.06 earnings per share for the current fiscal year.

MSA Safety Incorporporated declared that its board has approved a stock repurchase program on Thursday, February 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

MSA Safety Incorporporated Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. MSA Safety Incorporporated's dividend payout ratio is 29.94%.

Analyst Ratings Changes

A number of research analysts have issued reports on MSA shares. Wall Street Zen downgraded MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. National Bank Financial set a $235.00 price objective on shares of MSA Safety Incorporporated in a research note on Wednesday, February 18th. Robert W. Baird cut their target price on shares of MSA Safety Incorporporated from $205.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 30th. JPMorgan Chase & Co. started coverage on shares of MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 target price for the company. Finally, Jefferies Financial Group restated a "hold" rating and issued a $180.00 price target (down from $200.00) on shares of MSA Safety Incorporporated in a research note on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $203.14.

About MSA Safety Incorporporated

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.

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