Arbejdsmarkedets Tillaegspension Makes New $23.60 Million Investment in MSA Safety Incorporporated $MSA

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in MSA Safety in the fourth quarter, buying 147,395 shares worth about $23.6 million. The fund now owns roughly 0.38% of the company.
• MSA Safety reported better-than-expected quarterly results, with EPS of $1.99 versus $1.85 expected and revenue of $463.6 million, up 10% year over year. Analysts currently expect the company to earn 8.86 EPS for the full fiscal year.
• The company also boosted its shareholder returns by authorizing a $500 million share repurchase program and raising its quarterly dividend to $0.54 per share. That puts the annualized dividend at $2.16, for a yield of about 1.2%.

Arbejdsmarkedets Tillaegspension acquired a new position in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 147,395 shares of the industrial products company's stock, valued at approximately $23,604,000. Arbejdsmarkedets Tillaegspension owned about 0.38% of MSA Safety Incorporporated at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Cooke & Bieler LP grew its position in shares of MSA Safety Incorporporated by 1.3% during the 3rd quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock worth $141,892,000 after buying an additional 10,858 shares during the period. New York State Common Retirement Fund grew its position in shares of MSA Safety Incorporporated by 2.4% during the 3rd quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock worth $26,893,000 after buying an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of MSA Safety Incorporporated during the 3rd quarter worth about $782,000. Alps Advisors Inc. acquired a new position in shares of MSA Safety Incorporporated during the 3rd quarter worth about $15,282,000. Finally, Citigroup Inc. grew its position in shares of MSA Safety Incorporporated by 123.6% during the 3rd 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. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 value of $223,828.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Trading Up 1.1%

Shares of MSA Safety Incorporporated stock opened at $174.41 on Friday. MSA Safety Incorporporated has a 12-month low of $151.10 and a 12-month high of $208.92. The stock has a market cap of $6.73 billion, a P/E ratio of 23.57 and a beta of 0.97. The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45. The business's 50 day moving average is $172.22 and its 200-day moving average is $172.37.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The company had revenue of $463.63 million for the quarter, compared to analysts' expectations of $451.28 million. During the same quarter in the prior year, the business posted $1.68 EPS. The business's revenue was up 10.0% compared to the same quarter last year. Equities research analysts predict that MSA Safety Incorporporated will post 8.86 earnings per share for the current fiscal year.

MSA Safety Incorporporated announced that its board has authorized a share repurchase plan on Thursday, February 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

MSA Safety Incorporporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, May 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. MSA Safety Incorporporated's dividend payout ratio (DPR) is currently 28.65%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird set a $197.00 price objective 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 report on Saturday, May 9th. B. Riley Financial reiterated a "buy" rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Weiss Ratings lowered MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $180.00 price objective (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $200.00.

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.

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