Copeland Capital Management LLC Trims Stock Position in MSA Safety Incorporporated $MSA

Key Points

• Copeland Capital Management LLC trimmed its stake in MSA by 6.2% in Q4, selling 11,668 shares and finishing the period with 178,035 shares valued at about $28.51 million.
• MSA's board authorized a $500 million share buyback program (up to 6.6% of outstanding shares), a move that often signals management believes the stock is undervalued.
• Analysts hold a consensus Hold rating with an average price target of $203.14 (two Buys, five Holds), despite MSA beating quarterly EPS estimates ($2.38 vs. $2.26) and reporting modest revenue growth.

Copeland Capital Management LLC cut its stake in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 178,035 shares of the industrial products company's stock after selling 11,668 shares during the period. Copeland Capital Management LLC owned approximately 0.45% of MSA Safety Incorporporated worth $28,511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSA. NBC Securities Inc. increased its position in MSA Safety Incorporporated by 19.1% during the 4th quarter. NBC Securities Inc. now owns 3,456 shares of the industrial products company's stock worth $553,000 after purchasing an additional 555 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in MSA Safety Incorporporated by 7.0% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 4,429 shares of the industrial products company's stock worth $709,000 after purchasing an additional 290 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MSA Safety Incorporporated by 9.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,399 shares of the industrial products company's stock worth $1,665,000 after purchasing an additional 909 shares during the period. Bayforest Capital Ltd acquired a new position in MSA Safety Incorporporated during the 4th quarter worth approximately $327,000. Finally, GHP Investment Advisors Inc. acquired a new position in MSA Safety Incorporporated during the 4th quarter worth approximately $1,243,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $203.48, for a total transaction of $223,828.00. Following the sale, the chief accounting officer owned 3,234 shares in the company, valued at approximately $658,054.32. This represents a 25.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a research report on Wednesday, February 18th. Weiss Ratings cut MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. B. Riley Financial reiterated a "buy" rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Wall Street Zen cut MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Robert W. Baird dropped their target price on MSA Safety Incorporporated from $205.00 to $195.00 and set a "neutral" rating on the stock in a research report on Monday, March 30th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, MSA Safety Incorporporated has a consensus rating of "Hold" and an average price target of $203.14.

MSA Safety Incorporporated Price Performance

Shares of NYSE:MSA opened at $172.41 on Friday. The business's fifty day moving average price is $179.49 and its two-hundred day moving average price is $172.22. The stock has a market cap of $6.69 billion, a PE ratio of 24.35 and a beta of 1.05. 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 has a one year low of $148.76 and a one year high of $208.92.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced its earnings results on Wednesday, February 11th. The industrial products company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.12. The firm had revenue of $510.91 million for 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%.MSA Safety Incorporporated's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.25 EPS. On average, analysts forecast that MSA Safety Incorporporated will post 8.74 EPS for the current fiscal year.

MSA Safety Incorporporated declared that its Board of Directors has authorized a share repurchase program on Thursday, February 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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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