Engineers Gate Manager LP Purchases Shares of 9,229 MSA Safety Incorporporated $MSA

Key Points

• Engineers Gate Manager LP purchased 9,229 shares of MSA Safety, valued at approximately $1.61 million. Institutional investors and hedge funds collectively own 92.51% of the company.
• MSA Safety reported quarterly EPS of $2.40, beating estimates of $2.14, while revenue rose 6.2% year over year to $503.33 million. The company also pays a quarterly dividend of $0.54, equivalent to a 1.2% annual yield.
• Analyst sentiment remains cautious, with two Buy ratings and four Hold ratings and a consensus price target of $211.33. Meanwhile, company insiders sold shares, including a 20,000-share sale by Chairman Nishan Vartanian.

Engineers Gate Manager LP acquired a new position in MSA Safety Incorporporated (NYSE:MSA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,229 shares of the industrial products company's stock, valued at approximately $1,611,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new position in MSA Safety Incorporporated during the second quarter valued at approximately $66,000. NewEdge Advisors LLC lifted its holdings in shares of MSA Safety Incorporporated by 2,222.8% during the 2nd quarter. NewEdge Advisors LLC now owns 1,835 shares of the industrial products company's stock valued at $320,000 after acquiring an additional 1,756 shares in the last quarter. IFP Advisors Inc boosted its position in MSA Safety Incorporporated by 623.3% during the 2nd quarter. IFP Advisors Inc now owns 217 shares of the industrial products company's stock worth $38,000 after purchasing an additional 187 shares during the period. Squarepoint Ops LLC boosted its position in MSA Safety Incorporporated by 2,490.2% during the 2nd quarter. Squarepoint Ops LLC now owns 89,517 shares of the industrial products company's stock worth $15,628,000 after purchasing an additional 86,061 shares during the period. Finally, Allworth Financial LP increased its holdings in MSA Safety Incorporporated by 54.9% in the 2nd quarter. Allworth Financial LP now owns 855 shares of the industrial products company's stock valued at $149,000 after purchasing an additional 303 shares in the last quarter. 92.51% of the stock is 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 stock in a transaction on Friday, August 7th. The shares were sold at an average price of $193.99, for a total transaction of $3,879,800.00. Following the transaction, the chairman directly owned 50,324 shares in the company, valued at $9,762,352.76. This represents a 28.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jonathan Buck sold 469 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $191.00, for a total transaction of $89,579.00. Following the transaction, the chief accounting officer directly owned 3,776 shares of the company's stock, valued at approximately $721,216. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on MSA Safety Incorporporated from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Wall Street Zen lowered MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a research note on Monday. Robert W. Baird raised their target price on MSA Safety Incorporporated from $197.00 to $215.00 and gave the company a "neutral" rating in a 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. Finally, Weiss Ratings upgraded MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $211.33.

MSA Safety Incorporporated Stock Up 0.6%

Shares of MSA Safety Incorporporated stock opened at $179.90 on Thursday. MSA Safety Incorporporated has a 1-year low of $151.10 and a 1-year high of $208.92. The company has a market capitalization of $6.94 billion, a PE ratio of 22.38 and a beta of 0.94. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.24 and a quick ratio of 2.02. The business has a 50-day moving average of $183.46 and a 200-day moving average of $175.08.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.26. The company had revenue of $503.33 million for the quarter, compared to the consensus estimate of $496.27 million. MSA Safety Incorporporated had a return on equity of 25.13% and a net margin of 16.13%.MSA Safety Incorporporated's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. As a group, equities analysts forecast that MSA Safety Incorporporated will post 9.2 EPS for the current fiscal year.

MSA Safety Incorporporated Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were issued a $0.54 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.16 annualized dividend and a yield of 1.2%. MSA Safety Incorporporated's dividend payout ratio is currently 26.87%.

MSA Safety Incorporporated Profile

MSA Safety Incorporated develops and manufactures safety equipment and systems designed to protect people in hazardous work environments. Its products include industrial and fixed-gas detection instruments, respiratory protection equipment, hard hats and other head protection, eye and face protection, hearing protection, fall-protection systems, and connected safety technologies.

The company serves customers in industries such as construction, manufacturing, utilities, oil and gas, mining, and emergency response.

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