Baillie Gifford & Co. Sells 13,854 Shares of MSA Safety Incorporporated $MSA

Key Points

• Baillie Gifford cut its MSA stake by 16.7%, selling 13,854 shares in Q4 and now holds 69,128 shares (about 0.18% of the company) valued at $11.07 million; institutional investors own 92.51% of MSA.
• MSA delivered a beat and enacted shareholder-friendly measures — $2.38 EPS vs. $2.26 expected, revenue of $510.9M (up 2.3% YOY), a $0.53 quarterly dividend (1.2% yield), and a $500 million buyback authorization (up to 6.6% of shares).
• Analyst ratings are mostly cautious (average price target $203.14) even as major investors reposition, with Ruane Cunniff initiating a roughly $159M stake and Victory Capital substantially increasing its holdings.

Baillie Gifford & Co. lessened its stake in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 69,128 shares of the industrial products company's stock after selling 13,854 shares during the quarter. Baillie Gifford & Co. owned about 0.18% of MSA Safety Incorporporated worth $11,070,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in MSA. Ruane Cunniff & Goldfarb L.P. bought a new stake in shares of MSA Safety Incorporporated during the 2nd quarter worth about $158,997,000. Victory Capital Management Inc. boosted its stake in shares of MSA Safety Incorporporated by 4,827.4% during the 3rd quarter. Victory Capital Management Inc. now owns 338,411 shares of the industrial products company's stock worth $58,230,000 after acquiring an additional 331,543 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of MSA Safety Incorporporated during the 2nd quarter worth about $27,988,000. Sei Investments Co. boosted its stake in shares of MSA Safety Incorporporated by 193.0% during the 2nd quarter. Sei Investments Co. now owns 236,729 shares of the industrial products company's stock worth $39,660,000 after acquiring an additional 155,927 shares in the last quarter. Finally, P2 Capital Partners LLC bought a new stake in shares of MSA Safety Incorporporated during the 2nd quarter worth about $23,679,000. Institutional investors own 92.51% of the company's stock.

MSA Safety Incorporporated Price Performance

NYSE MSA opened at $172.31 on Tuesday. MSA Safety Incorporporated has a twelve month low of $141.00 and a twelve month high of $208.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.82 and a current ratio of 3.01. The stock has a market capitalization of $6.68 billion, a PE ratio of 24.34 and a beta of 1.05. The stock has a 50-day simple moving average of $183.07 and a 200 day simple moving average of $172.33.

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

MSA Safety Incorporporated Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.2%. MSA Safety Incorporporated's dividend payout ratio is 29.94%.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group reissued a "hold" rating and set a $180.00 price objective (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. JPMorgan Chase & Co. assumed coverage on MSA Safety Incorporporated in a research report on Tuesday, February 3rd. They set a "neutral" rating and a $200.00 price objective for the company. Wall Street Zen cut MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings cut MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. Finally, National Bank Financial set a $235.00 price objective on MSA Safety Incorporporated in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $203.14.

Insider Buying and Selling

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 3,234 shares of the company's stock, valued at $658,054.32. This represents a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

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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