Channing Capital Management LLC Acquires 13,460 Shares of MSA Safety Incorporporated $MSA

Key Points

• Channing Capital Management LLC increased its stake in MSA Safety Incorporporated by 2.8%, owning approximately 493,655 shares valued at $72.41 million, making it the 16th largest holding in its portfolio.
• Various institutional investors, such as Bayforest Capital Ltd and UMB Bank, dramatically boosted their stakes in MSA Safety, highlighting strong institutional interest with 92.51% of the stock owned by institutional investors.
• MSA recently reported strong quarterly earnings, with an EPS of $1.93 compared to the consensus estimate of $1.76, and also announced a quarterly dividend of $0.53 per share, solidifying its financial stability.

Channing Capital Management LLC lifted its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 493,655 shares of the industrial products company's stock after acquiring an additional 13,460 shares during the period. MSA Safety Incorporporated makes up 2.2% of Channing Capital Management LLC's portfolio, making the stock its 16th largest holding. Channing Capital Management LLC owned approximately 1.26% of MSA Safety Incorporporated worth $72,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bayforest Capital Ltd grew its stake in shares of MSA Safety Incorporporated by 3,400.0% in the first quarter. Bayforest Capital Ltd now owns 175 shares of the industrial products company's stock worth $26,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of MSA Safety Incorporporated by 39.4% in the first quarter. GAMMA Investing LLC now owns 269 shares of the industrial products company's stock worth $39,000 after acquiring an additional 76 shares during the last quarter. UMB Bank n.a. grew its stake in shares of MSA Safety Incorporporated by 54.4% in the first quarter. UMB Bank n.a. now owns 281 shares of the industrial products company's stock worth $41,000 after acquiring an additional 99 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of MSA Safety Incorporporated by 24.7% in the first quarter. Fifth Third Bancorp now owns 682 shares of the industrial products company's stock worth $100,000 after acquiring an additional 135 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of MSA Safety Incorporporated by 11.6% in the first quarter. Covestor Ltd now owns 970 shares of the industrial products company's stock worth $142,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

MSA Safety Incorporporated Price Performance

Shares of NYSE MSA traded up $5.2520 during midday trading on Friday, reaching $175.9620. 167,829 shares of the company traded hands, compared to its average volume of 238,478. The firm has a market cap of $6.89 billion, a PE ratio of 25.10 and a beta of 0.96. The stock's 50-day simple moving average is $172.75 and its 200-day simple moving average is $161.21. MSA Safety Incorporporated has a 12 month low of $127.86 and a 12 month high of $187.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.90 and a current ratio of 3.11.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.17. The company had revenue of $474.12 million during the quarter, compared to analysts' expectations of $446.46 million. MSA Safety Incorporporated had a return on equity of 26.03% and a net margin of 15.15%.The business's revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $2.01 earnings per share. As a group, equities analysts anticipate that MSA Safety Incorporporated will post 8.06 earnings per share for the current fiscal year.

MSA Safety Incorporporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. MSA Safety Incorporporated's payout ratio is currently 30.24%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MSA. Wall Street Zen upgraded shares of MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Robert W. Baird set a $166.00 price target on shares of MSA Safety Incorporporated in a research note on Monday, May 5th. Stifel Nicolaus initiated coverage on shares of MSA Safety Incorporporated in a research note on Wednesday, July 16th. They set a "hold" rating and a $182.00 price target on the stock. B. Riley reiterated a "buy" rating and set a $195.00 price target (down previously from $200.00) on shares of MSA Safety Incorporporated in a research note on Thursday, May 1st. Finally, DA Davidson lifted their price target on shares of MSA Safety Incorporporated from $183.00 to $203.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $189.20.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide.