MetLife Investment Management LLC Acquires 14,404 Shares of MSA Safety Incorporporated $MSA

Key Points

• MetLife Investment Management LLC increased its stake in MSA Safety Incorporated by 65.1%, acquiring an additional 14,404 shares, bringing its total ownership to 36,524 shares valued at approximately $5.36 million.
• Several institutional investors also boosted their positions in MSA Safety, with JPMorgan Chase & Co. and Conestoga Capital Advisors LLC making significant increases in their shareholdings during the first quarter.
• MSA Safety announced a quarterly dividend of $0.53, providing a dividend yield of 1.2%, and reported better-than-expected earnings of $1.93 per share for its latest quarter, exceeding consensus estimates.

MetLife Investment Management LLC raised its position in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 65.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 36,524 shares of the industrial products company's stock after purchasing an additional 14,404 shares during the period. MetLife Investment Management LLC owned 0.09% of MSA Safety Incorporporated worth $5,358,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MSA. Conestoga Capital Advisors LLC increased its stake in shares of MSA Safety Incorporporated by 33.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 790,939 shares of the industrial products company's stock valued at $116,023,000 after acquiring an additional 200,221 shares in the last quarter. Northern Trust Corp grew its stake in shares of MSA Safety Incorporporated by 36.7% in the 4th quarter. Northern Trust Corp now owns 438,374 shares of the industrial products company's stock worth $72,669,000 after acquiring an additional 117,758 shares in the last quarter. Millennium Management LLC grew its stake in shares of MSA Safety Incorporporated by 241.6% in the 4th quarter. Millennium Management LLC now owns 148,212 shares of the industrial products company's stock worth $24,569,000 after acquiring an additional 104,829 shares in the last quarter. Nuveen LLC bought a new position in shares of MSA Safety Incorporporated during the 1st quarter valued at approximately $14,631,000. Finally, Speece Thorson Capital Group Inc. bought a new position in shares of MSA Safety Incorporporated during the 1st quarter valued at approximately $10,894,000. Institutional investors own 92.51% of the company's stock.

MSA Safety Incorporporated Price Performance

Shares of MSA Safety Incorporporated stock traded down $1.45 on Tuesday, reaching $169.16. The stock had a trading volume of 89,794 shares, compared to its average volume of 206,628. MSA Safety Incorporporated has a 1 year low of $127.86 and a 1 year high of $187.41. The company has a market cap of $6.62 billion, a P/E ratio of 24.12 and a beta of 0.96. The company has a current ratio of 3.11, a quick ratio of 1.90 and a debt-to-equity ratio of 0.54. The business's 50 day moving average is $173.54 and its two-hundred day moving average is $161.52.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The industrial products company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.17. The company had revenue of $474.12 million for the quarter, compared to analysts' expectations of $446.46 million. MSA Safety Incorporporated had a net margin of 15.15% and a return on equity of 26.03%. MSA Safety Incorporporated's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 earnings per share. As a group, research analysts anticipate that MSA Safety Incorporporated will post 8.06 EPS for the current year.

MSA Safety Incorporporated Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 15th. MSA Safety Incorporporated's dividend payout ratio is 30.24%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MSA. DA Davidson increased their target price on shares of MSA Safety Incorporporated from $183.00 to $203.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised shares of MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Robert W. Baird set a $166.00 target price on shares of MSA Safety Incorporporated in a research report on Monday, May 5th. Finally, Stifel Nicolaus assumed coverage on shares of MSA Safety Incorporporated in a research report on Wednesday, July 16th. They set a "hold" rating and a $182.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $189.20.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide.