Madison Asset Management LLC Purchases 20,324 Shares of MSA Safety Incorporporated $MSA

Key Points

• Madison Asset Management increased its stake in MSA Safety by 3.6% in the first quarter, buying 20,324 additional shares and bringing its total holding to 588,568 shares worth about $96.5 million.
• MSA Safety reported strong quarterly results, with EPS of $1.99 beating estimates and revenue of $463.6 million topping forecasts; revenue also rose 10% year over year.
• The company raised its quarterly dividend to $0.54 per share from $0.53, while analysts currently have a consensus rating of Hold and a target price of $203.60.

Madison Asset Management LLC raised its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 588,568 shares of the industrial products company's stock after purchasing an additional 20,324 shares during the quarter. MSA Safety Incorporporated makes up approximately 1.2% of Madison Asset Management LLC's portfolio, making the stock its 21st largest holding. Madison Asset Management LLC owned 1.52% of MSA Safety Incorporporated worth $96,496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MSA. Ruane Cunniff & Goldfarb L.P. bought a new stake in shares of MSA Safety Incorporporated in the second quarter valued at approximately $158,997,000. Norges Bank bought a new position in MSA Safety Incorporporated in the 4th quarter worth approximately $66,878,000. Natixis Advisors LLC grew its stake in MSA Safety Incorporporated by 1,447.3% in the 4th quarter. Natixis Advisors LLC now owns 363,177 shares of the industrial products company's stock valued at $58,159,000 after buying an additional 339,705 shares in the last quarter. Franklin Resources Inc. grew its stake in MSA Safety Incorporporated by 233.9% in the 4th quarter. Franklin Resources Inc. now owns 452,505 shares of the industrial products company's stock valued at $72,464,000 after buying an additional 316,975 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in MSA Safety Incorporporated by 193.0% during the 2nd quarter. Sei Investments Co. now owns 236,729 shares of the industrial products company's stock valued at $39,660,000 after acquiring an additional 155,927 shares during the period. Institutional investors own 92.51% of the company's stock.

Insider Buying and Selling

In related news, CFO Julie A. Beck purchased 448 shares of the business's stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the purchase, the chief financial officer directly owned 3,825 shares in the company, valued at approximately $606,989.25. This represents a 13.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MSA. Weiss Ratings upgraded MSA Safety Incorporporated from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Robert W. Baird set a $197.00 price objective on MSA Safety Incorporporated in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a "hold" rating and set a $180.00 price objective (down from $200.00) on shares of MSA Safety Incorporporated in a report on Tuesday, March 31st. Finally, DA Davidson cut their target price on MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $203.60.

MSA Safety Incorporporated Price Performance

MSA Safety Incorporporated stock opened at $171.12 on Tuesday. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 23.12 and a beta of 0.95. The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $167.32 and a 200 day simple moving average of $174.62. MSA Safety Incorporporated has a 52 week low of $151.10 and a 52 week high of $208.92.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $463.63 million during the quarter, compared to the consensus estimate of $451.28 million. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $1.68 EPS. On average, research analysts forecast that MSA Safety Incorporporated will post 8.86 earnings per share for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a dividend of $0.54 per share. The ex-dividend date was Friday, May 15th. This is a boost 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 (DPR) is presently 29.19%.

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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