MSA Safety Incorporporated $MSA Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management cut its MSA Safety stake by 97.9% in the third quarter, selling 81,772 shares and retaining 1,753 shares valued at approximately $312,000. Institutional investors collectively own 92.51% of the company.
• MSA Safety reported quarterly earnings of $2.40 per share, beating estimates of $2.14, while revenue rose 6.2% year over year to $503.33 million. The company also maintains a $0.54 quarterly dividend, equivalent to a 1.2% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $211.33 versus the stock’s reported price of $183.51. Company insiders also sold shares, including the chairman’s 20,000-share transaction valued at nearly $3.88 million.

Argent Capital Management LLC trimmed its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 97.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,753 shares of the industrial products company's stock after selling 81,772 shares during the period. Argent Capital Management LLC's holdings in MSA Safety Incorporporated were worth $312,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Root Financial Partners LLC increased its stake in MSA Safety Incorporporated by 109.3% in the 1st quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in MSA Safety Incorporporated during the 2nd quarter worth about $27,000. IFP Advisors Inc lifted its stake in MSA Safety Incorporporated by 623.3% during the second quarter. IFP Advisors Inc now owns 217 shares of the industrial products company's stock valued at $38,000 after buying an additional 187 shares in the last quarter. Nykredit A S purchased a new stake in MSA Safety Incorporporated during the second quarter valued at about $56,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of MSA Safety Incorporporated in the fourth quarter worth about $57,000. Institutional investors and hedge funds own 92.51% of the company's stock.

MSA Safety Incorporporated Price Performance

NYSE MSA opened at $183.51 on Tuesday. The company has a 50 day simple moving average of $185.91 and a 200-day simple moving average of $174.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.24 and a quick ratio of 2.02. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 22.82 and a beta of 0.92. 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 announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.26. The firm had revenue of $503.33 million for the quarter, compared to the consensus estimate of $496.27 million. MSA Safety Incorporporated had a net margin of 16.13% and a return on equity of 25.13%. During the same period in the previous year, the firm posted $1.93 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that MSA Safety Incorporporated will post 9.12 earnings per share for the current fiscal year.

MSA Safety Incorporporated Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. MSA Safety Incorporporated's dividend payout ratio (DPR) is currently 26.87%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MSA. JPMorgan Chase & Co. lifted their target price on shares of MSA Safety Incorporporated from $210.00 to $220.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. DA Davidson set a $223.00 price target on shares of MSA Safety Incorporporated in a research report on Tuesday, August 4th. Weiss Ratings raised shares of MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. B. Riley Financial cut shares of MSA Safety Incorporporated from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $210.00 to $195.00 in a research report on Monday, August 3rd. Finally, Robert W. Baird boosted their target price on shares of MSA Safety Incorporporated from $197.00 to $215.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $211.33.

Insiders Place Their Bets

In other news, CAO Jonathan D. Buck sold 469 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $191.00, for a total transaction of $89,579.00. Following the completion of the sale, the chief accounting officer directly owned 3,776 shares of the company's stock, valued at $721,216. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Nishan J. Vartanian sold 20,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $193.99, for a total value of $3,879,800.00. Following the completion of the sale, the chairman directly owned 50,324 shares of the company's stock, valued at approximately $9,762,352.76. The trade was a 28.44% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is currently owned by company insiders.

MSA Safety Incorporporated Company Profile

MSA Safety Incorporated develops and manufactures safety products and systems designed to protect workers and facility occupants in hazardous environments. Its solutions are used across industries including construction, manufacturing, utilities, oil and gas, mining, emergency services, and public safety.

The company's product portfolio includes industrial head, face, eye, and hearing protection; fire and rescue helmets and protective equipment; respiratory protection; portable and fixed gas-detection instruments; fall-protection systems; thermal-imaging cameras; and related software and connected safety technologies.

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