Millennium Management LLC Raises Stock Position in MSA Safety Incorporated (NYSE:MSA)

Millennium Management LLC lifted its holdings in shares of MSA Safety Incorporated (NYSE:MSA - Free Report) by 241.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,212 shares of the industrial products company's stock after purchasing an additional 104,829 shares during the quarter. Millennium Management LLC owned about 0.38% of MSA Safety worth $24,569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmond Asset Management LLC acquired a new stake in MSA Safety during the 4th quarter worth approximately $362,000. Anchor Capital Advisors LLC increased its position in shares of MSA Safety by 18.8% during the fourth quarter. Anchor Capital Advisors LLC now owns 10,700 shares of the industrial products company's stock worth $1,774,000 after acquiring an additional 1,694 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of MSA Safety by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 424,356 shares of the industrial products company's stock valued at $70,345,000 after acquiring an additional 6,119 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in MSA Safety by 27.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 124,041 shares of the industrial products company's stock valued at $20,468,000 after purchasing an additional 26,470 shares during the period. Finally, Barclays PLC increased its holdings in MSA Safety by 62.0% during the 3rd quarter. Barclays PLC now owns 16,688 shares of the industrial products company's stock worth $2,959,000 after purchasing an additional 6,384 shares during the period. Hedge funds and other institutional investors own 92.51% of the company's stock.

MSA Safety Stock Performance

Shares of MSA opened at $159.50 on Tuesday. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 22.12 and a beta of 0.96. MSA Safety Incorporated has a 52-week low of $127.86 and a 52-week high of $200.61. The company has a quick ratio of 1.76, a current ratio of 2.79 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average price of $149.61 and a 200 day moving average price of $160.58.

MSA Safety (NYSE:MSA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.09. The business had revenue of $421.34 million during the quarter, compared to the consensus estimate of $402.60 million. MSA Safety had a net margin of 15.76% and a return on equity of 28.64%. The company's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. Research analysts predict that MSA Safety Incorporated will post 8.06 EPS for the current fiscal year.

MSA Safety Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from MSA Safety's previous quarterly dividend of $0.51. MSA Safety's payout ratio is 29.24%.

Insider Activity

In other MSA Safety news, CAO Jonathan D. Buck sold 717 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $159.00, for a total transaction of $114,003.00. Following the transaction, the chief accounting officer now directly owns 3,673 shares of the company's stock, valued at approximately $584,007. This trade represents a 16.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Nishan J. Vartanian sold 30,000 shares of MSA Safety stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $161.32, for a total transaction of $4,839,600.00. Following the completion of the transaction, the chairman now owns 35,401 shares in the company, valued at approximately $5,710,889.32. This represents a 45.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MSA. Robert W. Baird set a $166.00 price objective on MSA Safety in a research note on Monday, May 5th. B. Riley reiterated a "buy" rating and issued a $195.00 price target (down previously from $200.00) on shares of MSA Safety in a research note on Thursday, May 1st. StockNews.com raised shares of MSA Safety from a "hold" rating to a "buy" rating in a research report on Saturday, May 10th. Finally, DA Davidson reduced their price objective on shares of MSA Safety from $188.00 to $183.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $191.80.

MSA Safety Company Profile

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.

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