Fiduciary Management Inc. WI Raises Position in MSA Safety Incorporporated $MSA

Key Points

• Fiduciary Management Inc. WI increased its stake in MSA Safety by 12.8% in the fourth quarter, bringing its holdings to 715,443 shares worth about $114.6 million.
• MSA Safety reported better-than-expected quarterly results, with EPS of $1.99 versus $1.85 expected and revenue up 10% year over year to $463.63 million.
• The company authorized a $500 million share repurchase program and raised its quarterly dividend to $0.54 from $0.53, signaling confidence in its financial position.

Fiduciary Management Inc. WI grew its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 12.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 715,443 shares of the industrial products company's stock after purchasing an additional 81,249 shares during the period. Fiduciary Management Inc. WI owned approximately 1.83% of MSA Safety Incorporporated worth $114,571,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. grew its position in MSA Safety Incorporporated by 700.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after purchasing an additional 126 shares during the period. eCIO Inc. bought a new stake in MSA Safety Incorporporated in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its position in MSA Safety Incorporporated by 94.1% in the 2nd 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. Picton Mahoney Asset Management bought a new stake in MSA Safety Incorporporated in the 3rd quarter worth approximately $43,000. Finally, Kelleher Financial Advisors bought a new stake in MSA Safety Incorporporated in the 4th quarter worth approximately $50,000. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

MSA Safety Incorporporated Price Performance

NYSE MSA opened at $161.14 on Friday. 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 firm's 50 day moving average price is $168.50 and its 200-day moving average price is $173.13. MSA Safety Incorporporated has a 52-week low of $151.10 and a 52-week high of $208.92. The company has a market cap of $6.22 billion, a PE ratio of 21.78 and a beta of 0.96.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The firm had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. During the same period last year, the firm earned $1.68 earnings per share. The company's quarterly revenue was up 10.0% on a year-over-year basis. Sell-side analysts forecast that MSA Safety Incorporporated will post 8.86 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 permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 6.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

MSA Safety Incorporporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $0.54 dividend. 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 yield of 1.3%. MSA Safety Incorporporated's dividend payout ratio is currently 29.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. B. Riley Financial reissued a "buy" rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Robert W. Baird set a $197.00 price target on shares of MSA Safety Incorporporated in a research note on Wednesday, May 6th. National Bank Financial set a $235.00 price target on shares of MSA Safety Incorporporated in a research note on Wednesday, February 18th. DA Davidson decreased their price target on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of MSA Safety Incorporporated from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $200.00.

MSA Safety Incorporporated 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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