AEGON ASSET MANAGEMENT UK Plc Cuts Stock Holdings in MSA Safety Incorporporated $MSA

Key Points

• AEGON Asset Management UK Plc cut its MSA Safety stake by 67.1% in the first quarter, selling 50,835 shares and ending with 24,887 shares valued at about $4.08 million.
• MSA Safety reported strong quarterly results, with EPS of $1.99 beating estimates and revenue rising 10% year over year to $463.63 million.
• The company’s board approved a $500 million share repurchase program, and it also raised its quarterly dividend to $0.54 per share, for an annualized yield of about 1.3%.

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 67.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 24,887 shares of the industrial products company's stock after selling 50,835 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.06% of MSA Safety Incorporporated worth $4,078,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Comerica Bank increased its holdings in MSA Safety Incorporporated by 30.6% during the fourth quarter. Comerica Bank now owns 103,450 shares of the industrial products company's stock valued at $16,567,000 after buying an additional 24,260 shares during the period. Citigroup Inc. lifted its holdings in MSA Safety Incorporporated by 123.6% during the third quarter. Citigroup Inc. now owns 46,775 shares of the industrial products company's stock worth $8,049,000 after buying an additional 25,856 shares during the period. Victory Capital Management Inc. lifted 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 during the period. Royce & Associates LP lifted its holdings 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 worth $15,347,000 after buying an additional 9,840 shares during the period. Finally, Quantbot Technologies LP bought a new stake in MSA Safety Incorporporated during the 3rd quarter valued at $1,381,000. Institutional investors own 92.51% of the company's stock.

Insider Buying and Selling

In other MSA Safety Incorporporated news, CFO Julie A. Beck purchased 448 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $158.69 per share, with a total value of $71,093.12. Following the completion of the acquisition, the chief financial officer owned 3,825 shares in the company, valued at $606,989.25. This trade represents a 13.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Stock Performance

MSA opened at $164.32 on Friday. MSA Safety Incorporporated has a 12-month low of $151.10 and a 12-month high of $208.92. The company has a current ratio of 3.17, a quick ratio of 1.92 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $6.34 billion, a PE ratio of 22.21 and a beta of 0.96. The firm has a 50 day moving average of $167.56 and a two-hundred day moving average of $173.37.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. On average, analysts anticipate that MSA Safety Incorporporated will post 8.86 EPS for the current year.

MSA Safety Incorporporated announced that its Board of Directors has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

MSA Safety Incorporporated Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from MSA Safety Incorporporated's previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a yield of 1.3%. MSA Safety Incorporporated's dividend payout ratio is currently 29.19%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MSA. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 9th. Robert W. Baird set a $197.00 price objective on MSA Safety Incorporporated in a research note on Wednesday, May 6th. Weiss Ratings downgraded MSA Safety Incorporporated from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. DA Davidson cut their target price on MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $200.00.

MSA Safety Incorporporated 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.

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