Bank of America Corp DE Increases Holdings in MSA Safety Incorporporated $MSA

Key Points

• Bank of America increased its MSA Safety stake by 14.6% in the first quarter, bringing its holdings to 144,377 shares valued at approximately $23.7 million. Institutional investors collectively own 92.51% of the company.
• MSA Safety reported quarterly EPS of $2.40, beating estimates by $0.26, while revenue rose 6.2% year over year to $503.33 million. The company declared a quarterly dividend of $0.54 per share, equal to a 1.1% yield.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $211.33. Shares recently traded at $189.32, while insider activity included a CFO purchase and a 20,000-share sale by the chairman.

Bank of America Corp DE boosted its stake in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 14.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,377 shares of the industrial products company's stock after buying an additional 18,351 shares during the period. Bank of America Corp DE owned 0.37% of MSA Safety Incorporporated worth $23,671,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its stake in MSA Safety Incorporporated by 700.0% during the third quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after purchasing an additional 126 shares during the period. Root Financial Partners LLC lifted its holdings in MSA Safety Incorporporated by 109.3% in the first quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 96 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in MSA Safety Incorporporated in the fourth quarter worth approximately $57,000. Finally, Quarry LP grew its position in MSA Safety Incorporporated by 94.0% in the fourth quarter. Quarry LP now owns 423 shares of the industrial products company's stock worth $68,000 after acquiring an additional 205 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

MSA Safety Incorporporated Trading Up 0.1%

Shares of NYSE MSA opened at $189.32 on Tuesday. The company has a current ratio of 3.24, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $7.30 billion, a PE ratio of 23.55 and a beta of 0.94. MSA Safety Incorporporated has a twelve month low of $151.10 and a twelve month high of $208.92. The stock has a fifty day simple moving average of $174.24 and a 200-day simple moving average of $175.98.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its earnings results on Thursday, July 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.26. The firm had revenue of $503.33 million for the quarter, compared to analyst estimates of $496.27 million. MSA Safety Incorporporated had a return on equity of 25.13% and a net margin of 16.13%.MSA Safety Incorporporated's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. On average, equities analysts forecast that MSA Safety Incorporporated will post 9.23 earnings per share for the current year.

MSA Safety Incorporporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. MSA Safety Incorporporated's dividend payout ratio is presently 26.87%.

Insider Buying and Selling

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. Also, Chairman Nishan J. Vartanian sold 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $193.99, for a total value of $3,879,800.00. Following the completion of the sale, the chairman owned 50,324 shares in the company, valued at approximately $9,762,352.76. The trade was a 28.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MSA has been the topic of several recent analyst reports. Robert W. Baird upped their price target on MSA Safety Incorporporated from $197.00 to $215.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. B. Riley Financial downgraded MSA Safety Incorporporated from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $210.00 to $195.00 in a research report on Monday, August 3rd. Wall Street Zen lowered shares of MSA Safety Incorporporated from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. DA Davidson set a $223.00 target price on shares of MSA Safety Incorporporated in a research report on Tuesday, August 4th. Finally, Weiss Ratings raised shares of MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, MSA Safety Incorporporated has an average rating of "Hold" and a consensus target price of $211.33.

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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