Cooke & Bieler LP Has $143.97 Million Stock Holdings in MSA Safety Incorporporated $MSA

Key Points

• Cooke & Bieler LP increased its stake in MSA Safety by 9.0% in the fourth quarter, ending with 899,030 shares valued at about $143.97 million. The position makes up roughly 1.5% of the firm’s portfolio and 2.30% of MSA Safety’s stock.
• MSA Safety reported better-than-expected quarterly results, with EPS of $1.99 versus estimates of $1.85 and revenue of $463.63 million versus expectations of $451.28 million. Revenue rose 10.0% year over year.
• The company raised its quarterly dividend to $0.54 per share and authorized a $500 million share buyback, signaling confidence in its valuation and cash flow. Analysts currently have a consensus Hold rating with an average target price of $200.

Cooke & Bieler LP lifted its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899,030 shares of the industrial products company's stock after purchasing an additional 74,410 shares during the period. MSA Safety Incorporporated accounts for about 1.5% of Cooke & Bieler LP's portfolio, making the stock its 22nd biggest position. Cooke & Bieler LP owned 2.30% of MSA Safety Incorporporated worth $143,971,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of MSA Safety Incorporporated by 39.8% during the 1st quarter. Royal Bank of Canada now owns 47,391 shares of the industrial products company's stock worth $6,953,000 after buying an additional 13,501 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in MSA Safety Incorporporated during the first quarter worth $501,000. Jane Street Group LLC boosted its stake in MSA Safety Incorporporated by 44.7% during the first quarter. Jane Street Group LLC now owns 4,401 shares of the industrial products company's stock worth $646,000 after acquiring an additional 1,359 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 worth $33,000 after purchasing an additional 96 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in MSA Safety Incorporporated by 31.5% in the second quarter. Baird Financial Group Inc. now owns 2,757 shares of the industrial products company's stock worth $462,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 92.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MSA shares. Robert W. Baird set a $197.00 price objective on shares of MSA Safety Incorporporated in a report on Wednesday, May 6th. Weiss Ratings lowered MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. B. Riley Financial reaffirmed a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. DA Davidson cut their price target on MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. started coverage on MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, MSA Safety Incorporporated presently has an average rating of "Hold" and a consensus target price of $200.00.

MSA Safety Incorporporated Trading Down 0.0%

NYSE MSA opened at $170.92 on Tuesday. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 23.10 and a beta of 0.97. MSA Safety Incorporporated has a 52 week low of $151.10 and a 52 week high of $208.92. The business has a 50 day moving average price of $170.04 and a 200-day moving average price of $172.79. The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its earnings results on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $463.63 million for the quarter, compared to analysts' expectations of $451.28 million. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.MSA Safety Incorporporated's quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, equities analysts expect that MSA Safety Incorporporated will post 8.86 earnings per share for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, May 15th. This is a positive change 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%. MSA Safety Incorporporated's payout ratio is presently 29.19%.

MSA Safety Incorporporated declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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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