Handelsbanken Fonder AB Lowers Stock Position in MSA Safety Incorporporated $MSA

Key Points

• Handelsbanken Fonder AB reduced its stake in MSA Safety by 10.7% in the fourth quarter, selling 23,300 shares and leaving it with 193,544 shares valued at about $31 million.
• MSA Safety reported better-than-expected quarterly results, with EPS of $1.99 versus estimates of $1.85 and revenue of $463.63 million, up 10% year over year.
• The company also raised its quarterly dividend to $0.54 per share and has an approved $500 million share repurchase program; analysts currently have a consensus rating of “Hold” with a $200 price target.

Handelsbanken Fonder AB cut its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 193,544 shares of the industrial products company's stock after selling 23,300 shares during the period. Handelsbanken Fonder AB owned 0.49% of MSA Safety Incorporporated worth $30,994,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MSA. Brown Brothers Harriman & Co. lifted its holdings in MSA Safety Incorporporated by 700.0% during the third quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after buying an additional 126 shares during the period. eCIO Inc. purchased a new position in shares of MSA Safety Incorporporated in the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 96 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of MSA Safety Incorporporated in the 3rd quarter worth $43,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of MSA Safety Incorporporated during the 4th quarter worth $50,000. 92.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MSA Safety Incorporporated Stock Down 2.4%

MSA Safety Incorporporated stock opened at $165.37 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.17 and a quick ratio of 1.92. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 22.35 and a beta of 0.97. MSA Safety Incorporporated has a 1-year low of $151.10 and a 1-year high of $208.92. The business has a fifty day moving average price of $171.07 and a 200-day moving average price of $172.42.

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. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The company had revenue of $463.63 million for the quarter, compared to analyst estimates of $451.28 million. During the same period in the prior year, the company posted $1.68 EPS. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that MSA Safety Incorporporated will post 8.86 EPS for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. The ex-dividend date is Friday, May 15th. MSA Safety Incorporporated's dividend payout ratio is currently 29.19%.

MSA Safety Incorporporated announced that its board has approved a share repurchase program on Thursday, February 26th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 6.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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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