Giverny Capital Inc. Makes New Investment in MSA Safety Incorporporated $MSA

Key Points

• Giverny Capital initiated a position in MSA Safety during the second quarter, purchasing 166,305 shares valued at approximately $29 million. The stake represents 0.43% of MSA’s outstanding shares and 1% of Giverny’s portfolio, while institutional investors collectively own 92.51% of the stock.
• MSA Safety exceeded quarterly expectations, reporting $2.40 in EPS versus the $2.14 consensus and revenue of $503.33 million, up 6.2% year over year. The company also declared a quarterly dividend of $0.54 per share, implying a 1.1% annualized yield.
• Analyst sentiment remains mixed, with two Buy ratings and four Hold ratings; the consensus rating is Hold with an average price target of $211.33, above the reported share price of $188.73.

Giverny Capital Inc. purchased a new position in MSA Safety Incorporporated (NYSE:MSA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 166,305 shares of the industrial products company's stock, valued at approximately $29,034,000. MSA Safety Incorporporated makes up 1.0% of Giverny Capital Inc.'s investment portfolio, making the stock its 28th biggest holding. Giverny Capital Inc. owned 0.43% of MSA Safety Incorporporated as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MSA. Brown Brothers Harriman & Co. lifted its holdings in MSA Safety Incorporporated by 700.0% in the third 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. Root Financial Partners LLC increased its stake in MSA Safety Incorporporated by 109.3% during the 1st quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock valued at $26,000 after buying an additional 82 shares during the period. Allied Private Wealth LLC bought a new stake in shares of MSA Safety Incorporporated during the 2nd quarter worth about $27,000. EverSource Wealth Advisors LLC raised its position in shares of MSA Safety Incorporporated by 94.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company's stock worth $33,000 after buying an additional 96 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of MSA Safety Incorporporated in the 2nd quarter worth approximately $56,000. 92.51% of the stock is owned by institutional investors and hedge funds.

MSA Safety Incorporporated Stock Up 0.0%

MSA stock opened at $188.73 on Monday. MSA Safety Incorporporated has a 12 month low of $151.10 and a 12 month high of $208.92. The firm has a market cap of $7.28 billion, a PE ratio of 23.47 and a beta of 0.94. The firm has a 50 day simple moving average of $181.55 and a 200 day simple moving average of $175.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.24 and a quick ratio of 2.02.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $503.33 million for the quarter, compared to analyst estimates of $496.27 million. MSA Safety Incorporporated had a net margin of 16.13% and a return on equity of 25.13%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 earnings per share. Equities research analysts forecast that MSA Safety Incorporporated will post 9.2 earnings per share for the current fiscal year.

MSA Safety Incorporporated Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 14th. MSA Safety Incorporporated's payout ratio is presently 26.87%.

Insider Buying and Selling

In related news, CFO Julie A. Beck bought 448 shares of MSA Safety Incorporporated stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 3,825 shares in the company, valued at approximately $606,989.25. This trade represents a 13.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jonathan D. Buck sold 469 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $191.00, for a total value of $89,579.00. Following the completion of the transaction, the chief accounting officer owned 3,776 shares of the company's stock, valued at $721,216. This trade represents a 11.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a report on Sunday. B. Riley Financial downgraded MSA Safety Incorporporated from a "buy" rating to a "neutral" rating and cut their target price for the stock from $210.00 to $195.00 in a research report on Monday, August 3rd. Weiss Ratings raised MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. DA Davidson set a $223.00 price target on MSA Safety Incorporporated in a research report on Tuesday, August 4th. Finally, Robert W. Baird boosted their price objective on MSA Safety Incorporporated from $197.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $211.33.

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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