Comerica Bank Has $16.57 Million Holdings in MSA Safety Incorporporated $MSA

Key Points

• Comerica Bank increased its stake in MSA by 30.6% in Q4 and now owns 103,450 shares (about 0.26% of the company) worth approximately $16.57 million.
• MSA's board authorized a $500 million share buyback—up to 6.6% of outstanding shares—indicating management believes the stock may be undervalued.
• MSA beat quarterly estimates with EPS of $2.38 versus $2.26 and revenue of $510.9M versus $508.6M; the company has a $6.49B market cap and an average analyst rating of "Hold" with a $203.14 price target.

Comerica Bank lifted its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 30.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,450 shares of the industrial products company's stock after buying an additional 24,260 shares during the period. Comerica Bank owned about 0.26% of MSA Safety Incorporporated worth $16,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC raised its holdings in shares of MSA Safety Incorporporated by 1.6% in the 4th quarter. Sanctuary Advisors LLC now owns 3,958 shares of the industrial products company's stock worth $634,000 after buying an additional 64 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of MSA Safety Incorporporated by 4.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,728 shares of the industrial products company's stock worth $297,000 after buying an additional 73 shares in the last quarter. Allworth Financial LP raised its holdings in shares of MSA Safety Incorporporated by 28.2% in the 3rd quarter. Allworth Financial LP now owns 382 shares of the industrial products company's stock worth $66,000 after buying an additional 84 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of MSA Safety Incorporporated by 3.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 2,327 shares of the industrial products company's stock worth $390,000 after buying an additional 85 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of MSA Safety Incorporporated by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,850 shares of the industrial products company's stock worth $2,039,000 after buying an additional 85 shares in the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MSA Safety Incorporporated

In other news, CAO Jonathan D. Buck sold 1,100 shares of MSA Safety Incorporporated stock in a transaction 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 sale, the chief accounting officer directly owned 3,234 shares of the company's stock, valued at approximately $658,054.32. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Stock Down 2.1%

NYSE MSA opened at $167.39 on Wednesday. The stock has a fifty day moving average of $177.50 and a 200-day moving average of $172.15. The stock has a market capitalization of $6.49 billion, a P/E ratio of 23.64 and a beta of 1.05. MSA Safety Incorporporated has a 52 week low of $150.65 and a 52 week 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.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its earnings results on Wednesday, February 11th. The industrial products company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.26 by $0.12. The company had revenue of $510.91 million during the quarter, compared to analysts' expectations of $508.62 million. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.25 EPS. On average, equities research analysts forecast that MSA Safety Incorporporated will post 8.74 EPS for the current year.

MSA Safety Incorporporated declared that its board has initiated a stock buyback program on Thursday, February 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MSA shares. B. Riley Financial reissued a "buy" rating on shares of MSA Safety Incorporporated in a report on Thursday, February 12th. National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a report on Wednesday, February 18th. JPMorgan Chase & Co. initiated coverage on MSA Safety Incorporporated in a report on Tuesday, February 3rd. They set a "neutral" rating and a $200.00 price target for the company. 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 report on Tuesday, March 31st. Finally, Wall Street Zen cut MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $203.14.

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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