Conestoga Capital Advisors LLC Sells 176,393 Shares of MSA Safety Incorporporated $MSA

Key Points

• Conestoga Capital Advisors cut its MSA Safety stake by 31.8%, selling 176,393 shares in the third quarter; it retained 378,181 shares worth about $67.3 million. Institutional investors and hedge funds collectively own 92.51% of the company.
• MSA Safety reported quarterly EPS of $2.09, in line with estimates, while revenue of $536.43 million exceeded forecasts and rose 14.5% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $211.33. The company declared a quarterly dividend of $0.54 per share, equivalent to a 1.2% annualized yield.

Conestoga Capital Advisors LLC cut its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 31.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 378,181 shares of the industrial products company's stock after selling 176,393 shares during the quarter. MSA Safety Incorporporated makes up 2.0% of Conestoga Capital Advisors LLC's portfolio, making the stock its 18th largest position. Conestoga Capital Advisors LLC owned about 0.98% of MSA Safety Incorporporated worth $67,271,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Madison Asset Management LLC grew its holdings in shares of MSA Safety Incorporporated by 3.6% in the 1st quarter. Madison Asset Management LLC now owns 588,568 shares of the industrial products company's stock valued at $96,496,000 after acquiring an additional 20,324 shares in the last quarter. Royal Bank of Canada increased its position in shares of MSA Safety Incorporporated by 42.5% in the first quarter. Royal Bank of Canada now owns 218,070 shares of the industrial products company's stock valued at $35,752,000 after acquiring an additional 65,002 shares during the last quarter. Sei Investments Co. raised its holdings in MSA Safety Incorporporated by 6.1% during the first quarter. Sei Investments Co. now owns 205,135 shares of the industrial products company's stock worth $33,633,000 after acquiring an additional 11,788 shares in the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in MSA Safety Incorporporated by 19.9% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 176,593 shares of the industrial products company's stock worth $31,412,000 after acquiring an additional 29,289 shares in the last quarter. Finally, Giverny Capital Inc. bought a new stake in MSA Safety Incorporporated during the second quarter worth about $29,034,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MSA Safety Incorporporated news, Chairman Nishan Vartanian sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $193.99, for a total transaction of $3,879,800.00. Following the transaction, the chairman owned 50,324 shares of the company's stock, valued at $9,762,352.76. The trade was a 28.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. 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. DA Davidson set a $223.00 price target on MSA Safety Incorporporated in a research report on Tuesday, August 4th. Robert W. Baird upped their price objective on MSA Safety Incorporporated from $197.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Weiss Ratings raised MSA Safety Incorporporated from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, October 6th. Finally, Wall Street Zen downgraded MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, MSA Safety Incorporporated presently has a consensus rating of "Hold" and an average target price of $211.33.

MSA Safety Incorporporated Stock Performance

Shares of MSA opened at $177.30 on Thursday. The company has a market cap of $6.84 billion, a PE ratio of 19.65 and a beta of 0.92. The firm has a 50-day moving average of $182.19 and a 200-day moving average of $178.17. MSA Safety Incorporporated has a one year low of $152.86 and a one year high of $208.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.65 and a quick ratio of 2.02.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its earnings results on Monday, November 2nd. The industrial products company reported $2.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.09. MSA Safety Incorporporated had a net margin of 15.03% and a return on equity of 24.84%. The company had revenue of $536.43 million for the quarter, compared to analysts' expectations of $528.39 million. During the same period in the prior year, the firm earned $1.77 EPS. MSA Safety Incorporporated's quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts forecast that MSA Safety Incorporporated will post 9.08 earnings per share for the current year.

MSA Safety Incorporporated Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, November 13th. MSA Safety Incorporporated's payout ratio is 26.87%.

MSA Safety Incorporporated Company Profile

MSA Safety Incorporated NYSE: MSA develops and manufactures safety products and systems designed to protect workers and facility operations. Its offerings include industrial and firefighter helmets, eye and face protection, hearing protection, respiratory protection, protective clothing, and fall-protection equipment.

The company also provides portable and fixed gas-detection systems, flame detection and suppression technologies, thermal imaging cameras, and related software and services.

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