Madison Asset Management LLC Takes Position in MSA Safety Incorporporated $MSA

Key Points

• Madison Asset Management LLC opened a new position in MSA Safety, buying 568,244 shares valued at about $91 million. The stake represented roughly 1.45% of the company and made MSA its 28th-largest holding.
• 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 announced a $500 million share repurchase plan.
• Insider activity included CAO Jonathan D. Buck selling 1,100 shares at $203.48 each, while analysts currently rate the stock a Hold on average with a consensus price target of $200.

Madison Asset Management LLC acquired a new position in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 568,244 shares of the industrial products company's stock, valued at approximately $90,999,000. MSA Safety Incorporporated comprises about 1.0% of Madison Asset Management LLC's holdings, making the stock its 28th biggest holding. Madison Asset Management LLC owned about 1.45% of MSA Safety Incorporporated at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MSA. Brown Brothers Harriman & Co. increased its position in shares of 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 purchasing an additional 126 shares in the last quarter. eCIO Inc. purchased a new position in shares of MSA Safety Incorporporated during the fourth quarter worth approximately $27,000. First Horizon Corp acquired a new position in shares of MSA Safety Incorporporated in the 3rd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $33,000 after acquiring an additional 96 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in MSA Safety Incorporporated in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 92.51% of the company's stock.

Insider Activity at MSA Safety Incorporporated

In other news, CAO Jonathan D. Buck sold 1,100 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the transaction, the chief accounting officer directly owned 3,234 shares of the company's stock, valued at $658,054.32. This represents a 25.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

MSA Safety Incorporporated Stock Performance

NYSE MSA opened at $169.61 on Wednesday. The company has a current ratio of 3.17, a quick ratio of 1.92 and a debt-to-equity ratio of 0.45. The business's 50 day moving average is $173.11 and its two-hundred day moving average is $172.29. MSA Safety Incorporporated has a 12-month low of $151.10 and a 12-month high of $208.92. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.92 and a beta of 0.97.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.99 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 business had revenue of $463.63 million during the quarter, compared to analysts' expectations of $451.28 million. During the same period last year, the firm earned $1.68 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts expect that MSA Safety Incorporporated will post 8.83 EPS for the current year.

MSA Safety Incorporporated declared that its Board of Directors has initiated a share buyback plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

MSA Safety Incorporporated Increases Dividend

The firm also recently announced 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. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 15th. MSA Safety Incorporporated's dividend payout ratio is 28.65%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MSA shares. Weiss Ratings downgraded shares of MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, April 6th. National Bank Financial set a $235.00 price target on MSA Safety Incorporporated in a research report on Wednesday, February 18th. JPMorgan Chase & Co. started coverage on MSA Safety Incorporporated in a research report on Tuesday, February 3rd. They set a "neutral" rating and a $200.00 price objective for the company. DA Davidson lowered their target price on MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, MSA Safety Incorporporated presently has an average rating of "Hold" and a consensus price target 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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