Conestoga Capital Advisors LLC Trims Stock Holdings in MSA Safety Incorporporated $MSA

Key Points

• Conestoga Capital Advisors cut its MSA Safety stake by 11.5% in the first quarter, selling 86,360 shares and leaving it with 664,812 shares valued at about $109 million.
• MSA Safety’s latest quarter beat expectations, reporting EPS of $1.99 versus the $1.85 consensus and revenue of $463.63 million, up 10% year over year.
• The company also raised its quarterly dividend to $0.54 per share, while analysts currently have a consensus Hold rating with a $200 average price target.

Conestoga Capital Advisors LLC lessened its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 664,812 shares of the industrial products company's stock after selling 86,360 shares during the quarter. MSA Safety Incorporporated accounts for 2.2% of Conestoga Capital Advisors LLC's portfolio, making the stock its 19th largest position. Conestoga Capital Advisors LLC owned 1.71% of MSA Safety Incorporporated worth $108,996,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. boosted its stake in shares of MSA Safety Incorporporated by 700.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock valued at $25,000 after buying an additional 126 shares during the last quarter. eCIO Inc. bought a new stake in shares of MSA Safety Incorporporated in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC raised its holdings in MSA Safety Incorporporated by 94.1% in the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 96 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in MSA Safety Incorporporated in the third quarter valued at $43,000. Finally, Kelleher Financial Advisors bought a new position in MSA Safety Incorporporated during the 4th quarter valued at $50,000. 92.51% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MSA Safety Incorporporated

In other MSA Safety Incorporporated news, CFO Julie A. Beck acquired 448 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $158.69 per share, with a total value of $71,093.12. Following the acquisition, the chief financial officer directly owned 3,825 shares of the company's stock, valued at $606,989.25. This represents a 13.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MSA. Jefferies Financial Group reissued a "hold" rating and set a $180.00 price objective (down from $200.00) on shares of MSA Safety Incorporporated in a report on Tuesday, March 31st. Robert W. Baird set a $197.00 price target on shares of MSA Safety Incorporporated in a research 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. DA Davidson lowered their price objective on MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings lowered MSA Safety Incorporporated from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $200.00.

MSA Safety Incorporporated Trading Down 2.4%

MSA Safety Incorporporated stock opened at $170.32 on Thursday. MSA Safety Incorporporated has a 1 year low of $151.10 and a 1 year high of $208.92. The firm's 50-day moving average is $167.20 and its 200-day moving average is $173.81. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.92 and a current ratio of 3.17. The company has a market cap of $6.57 billion, a P/E ratio of 23.02 and a beta of 0.95.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings data 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 during 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 firm's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. On average, equities analysts expect that MSA Safety Incorporporated will post 8.86 earnings per share for the current year.

MSA Safety Incorporporated Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.54 per share. This is a boost from MSA Safety Incorporporated's previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, May 15th. MSA Safety Incorporporated's payout ratio is presently 29.19%.

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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