MSA Safety Incorporporated $MSA Shares Sold by Pier Capital LLC

Key Points

• Pier Capital LLC cut its stake by 19.8%, selling 10,739 shares to hold 43,455 shares of MSA (about $7.48M) at the end of the quarter, while institutional investors own roughly 92.5% of the stock.
• MSA’s Chief Accounting Officer Jonathan D. Buck sold 1,100 shares (a 25.38% reduction in his position), leaving insiders with just 0.70% ownership, signaling notable insider selling.
• MSA announced a $500 million share buyback (up to 6.6% of shares) after reporting quarterly results that beat EPS and revenue estimates, and analysts maintain a mixed but overall “Moderate Buy” view with an average price target of $202.17.

Pier Capital LLC cut its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 19.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,455 shares of the industrial products company's stock after selling 10,739 shares during the period. Pier Capital LLC owned approximately 0.11% of MSA Safety Incorporporated worth $7,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Horizon Corp purchased a new stake in shares of MSA Safety Incorporporated during the 3rd quarter worth approximately $30,000. Penserra Capital Management LLC purchased a new position in MSA Safety Incorporporated in the 2nd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 96 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in MSA Safety Incorporporated by 397.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 219 shares of the industrial products company's stock worth $37,000 after purchasing an additional 175 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in MSA Safety Incorporporated during the third quarter worth $43,000. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the sale, the chief accounting officer directly owned 3,234 shares of the company's stock, valued at $658,054.32. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings raised MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, January 26th. B. Riley Financial reaffirmed a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. JPMorgan Chase & Co. initiated coverage on shares of MSA Safety Incorporporated in a research report on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 price objective on the stock. Wall Street Zen cut shares of MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, DA Davidson raised their target price on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $202.17.

MSA Safety Incorporporated Price Performance

Shares of NYSE:MSA opened at $179.40 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.82 and a current ratio of 3.01. The business's fifty day moving average price is $186.19 and its two-hundred day moving average price is $172.35. The stock has a market cap of $6.96 billion, a PE ratio of 25.34 and a beta of 0.96. MSA Safety Incorporporated has a one year low of $127.86 and a one year high of $208.92.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.12. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The company had revenue of $510.91 million during the quarter, compared to analysts' expectations of $508.62 million. During the same period in the previous year, the firm posted $2.25 earnings per share. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, analysts forecast that MSA Safety Incorporporated will post 8.06 EPS for the current fiscal year.

MSA Safety Incorporporated declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

MSA Safety Incorporporated Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, February 13th. MSA Safety Incorporporated's dividend payout ratio is 29.94%.

MSA Safety Incorporporated Company 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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