Assenagon Asset Management S.A. Invests $3.13 Million in MSA Safety Incorporporated $MSA

Key Points

• Assenagon Asset Management opened a new position in MSA Safety during the first quarter, buying 19,093 shares worth about $3.13 million. The filing adds to evidence of strong institutional interest, with hedge funds and other institutional investors owning 92.51% of the company.
• MSA Safety reported better-than-expected quarterly results, posting EPS of $1.99 versus estimates of $1.85 and revenue of $463.63 million versus expectations of $451.28 million. Revenue rose 10% year over year, and analysts now expect full-year EPS of 8.86.
• The company also raised its dividend to $0.54 per share from $0.53, bringing the annualized payout to $2.16 and a yield of about 1.2%. In addition, CFO Julie A. Beck bought 448 shares, signaling insider confidence.

Assenagon Asset Management S.A. purchased a new position in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,093 shares of the industrial products company's stock, valued at approximately $3,130,000.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its holdings in shares of MSA Safety Incorporporated by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after buying an additional 126 shares during the last quarter. eCIO Inc. purchased a new stake in MSA Safety Incorporporated in the fourth quarter valued at $27,000. EverSource Wealth Advisors LLC raised its position in MSA Safety Incorporporated by 94.1% in the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 96 shares during the period. Picton Mahoney Asset Management acquired a new position in shares of MSA Safety Incorporporated in the 3rd quarter valued at $43,000. Finally, Kelleher Financial Advisors acquired a new position in shares of MSA Safety Incorporporated in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 92.51% of the company's stock.

MSA Safety Incorporporated Stock Performance

NYSE MSA opened at $174.85 on Wednesday. The company has a market cap of $6.75 billion, a P/E ratio of 23.63 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.17 and a quick ratio of 1.92. The stock has a 50-day moving average of $167.27 and a two-hundred day moving average of $173.76. MSA Safety Incorporporated has a 1-year low of $151.10 and a 1-year high of $208.92.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $463.63 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.68 earnings per share. As a group, analysts anticipate that MSA Safety Incorporporated will post 8.86 EPS for the current year.

MSA Safety Incorporporated Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.54 per share. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, May 15th. MSA Safety Incorporporated's dividend payout ratio is currently 29.19%.

Analyst Upgrades and Downgrades

MSA has been the subject of a number of recent analyst reports. 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 decreased their target price on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group reaffirmed a "hold" rating and set a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a research note on Tuesday, March 31st. Wall Street Zen upgraded shares of MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Finally, Robert W. Baird set a $197.00 price target on shares of MSA Safety Incorporporated in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $200.00.

Insider Buying and Selling at MSA Safety Incorporporated

In related news, CFO Julie A. Beck acquired 448 shares of MSA Safety Incorporporated stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $158.69 per share, for a total transaction of $71,093.12. Following the completion of the purchase, the chief financial officer owned 3,825 shares in the company, valued at approximately $606,989.25. The trade was a 13.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

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