Bank of New York Mellon Corp Sells 11,604 Shares of MSA Safety Incorporporated $MSA

Key Points

• Bank of New York Mellon trimmed its MSA Safety stake by 1.6% in the fourth quarter, selling 11,604 shares and leaving it with 706,239 shares worth about $113.1 million.
• MSA Safety recently beat earnings and revenue estimates, reporting $1.99 EPS on $463.63 million in revenue for the quarter, with revenue up 10% year over year.
• The company also raised its quarterly dividend to $0.54 per share and has an approved $500 million share repurchase program, while analysts currently rate the stock a consensus “Hold.”

Bank of New York Mellon Corp lessened its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 706,239 shares of the industrial products company's stock after selling 11,604 shares during the period. Bank of New York Mellon Corp owned 1.80% of MSA Safety Incorporporated worth $113,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its position in MSA Safety Incorporporated by 39.8% during the first quarter. Royal Bank of Canada now owns 47,391 shares of the industrial products company's stock valued at $6,953,000 after acquiring an additional 13,501 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of MSA Safety Incorporporated in the 1st quarter worth $501,000. Jane Street Group LLC grew its stake in MSA Safety Incorporporated by 44.7% during the 1st quarter. Jane Street Group LLC now owns 4,401 shares of the industrial products company's stock worth $646,000 after buying an additional 1,359 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in MSA Safety Incorporporated by 94.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock valued at $33,000 after buying an additional 96 shares in the last quarter. Finally, Baird Financial Group Inc. raised its stake in MSA Safety Incorporporated by 31.5% in the second quarter. Baird Financial Group Inc. now owns 2,757 shares of the industrial products company's stock valued at $462,000 after buying an additional 661 shares during the last quarter. 92.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. National Bank Financial set a $235.00 price objective on shares of MSA Safety Incorporporated in a research report on Wednesday, February 18th. DA Davidson decreased their price target on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating for the company in a report on Monday, May 11th. Robert W. Baird set a $197.00 price objective on shares of MSA Safety Incorporporated in a report on Wednesday, May 6th. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $180.00 price target (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, MSA Safety Incorporporated has an average rating of "Hold" and an average target price of $200.00.

MSA Safety Incorporporated Price Performance

Shares of MSA opened at $161.14 on Monday. The business's 50-day moving average is $168.50 and its two-hundred day moving average is $173.26. The company has a market capitalization of $6.22 billion, a P/E ratio of 21.78 and a beta of 0.96. MSA Safety Incorporporated has a fifty-two week low of $151.10 and a fifty-two week high of $208.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.92 and a current ratio of 3.17.

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

MSA Safety Incorporporated Increases Dividend

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

MSA Safety Incorporporated announced that its Board of Directors has approved a stock 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 repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

About MSA Safety Incorporporated

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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