California State Teachers Retirement System Purchases 7,395,294 Shares of MSA Safety Incorporporated $MSA

Key Points

• California State Teachers Retirement System increased its MSA Safety stake by 17,760.5%, acquiring 7.4 million shares and bringing its ownership to approximately 19.28%, valued at $1.30 billion.
• MSA Safety reported strong quarterly results, with EPS of $2.40 exceeding estimates of $2.14 and revenue rising 6.2% year over year to $503.33 million.
• The company declared a quarterly dividend of $0.54, equivalent to $2.16 annually and a 1.2% yield. Analysts maintain a consensus “Hold” rating with an average price target of $211.33, while two company insiders recently sold shares.

California State Teachers Retirement System raised its position in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 17,760.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,436,933 shares of the industrial products company's stock after acquiring an additional 7,395,294 shares during the period. California State Teachers Retirement System owned approximately 19.28% of MSA Safety Incorporporated worth $1,298,340,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, Chairman Nishan J. Vartanian sold 20,000 shares of MSA Safety Incorporporated stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $193.99, for a total transaction of $3,879,800.00. Following the completion of the transaction, the chairman directly owned 50,324 shares in the company, valued at approximately $9,762,352.76. This trade represents a 28.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jonathan D. Buck sold 469 shares of the business's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $191.00, for a total value of $89,579.00. Following the completion of the sale, the chief accounting officer directly owned 3,776 shares in the company, valued at $721,216. This trade represents a 11.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Price Performance

MSA stock opened at $182.30 on Friday. The firm has a 50 day moving average of $182.87 and a 200-day moving average of $175.55. The company has a current ratio of 3.24, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. MSA Safety Incorporporated has a 12 month low of $151.10 and a 12 month high of $208.92. The firm has a market capitalization of $7.03 billion, a P/E ratio of 22.67 and a beta of 0.94.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.40 EPS for the quarter, topping the consensus estimate of $2.14 by $0.26. MSA Safety Incorporporated had a return on equity of 25.13% and a net margin of 16.13%.The firm had revenue of $503.33 million for the quarter, compared to the consensus estimate of $496.27 million. During the same quarter in the previous year, the business earned $1.93 earnings per share. The company's quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that MSA Safety Incorporporated will post 9.2 earnings per share for the current fiscal year.

MSA Safety Incorporporated Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were issued a $0.54 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.16 annualized dividend and a yield of 1.2%. MSA Safety Incorporporated's dividend payout ratio (DPR) is 26.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. B. Riley Financial cut shares of MSA Safety Incorporporated from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $210.00 to $195.00 in a research report on Monday, August 3rd. DA Davidson set a $223.00 target price on MSA Safety Incorporporated in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their price target on MSA Safety Incorporporated from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a report on Sunday, September 6th. Finally, Weiss Ratings raised MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, MSA Safety Incorporporated presently has an average rating of "Hold" and a consensus price target of $211.33.

About MSA Safety Incorporporated

MSA Safety Incorporated develops and manufactures safety equipment and systems designed to protect people in hazardous work environments. Its products include industrial and fixed-gas detection instruments, respiratory protection equipment, hard hats and other head protection, eye and face protection, hearing protection, fall-protection systems, and connected safety technologies.

The company serves customers in industries such as construction, manufacturing, utilities, oil and gas, mining, and emergency response.

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