MSA Safety Incorporporated $MSA Stake Boosted by Swedbank AB

Key Points

• Swedbank AB boosted its stake in MSA Safety by 730.1% in the fourth quarter, buying 17,493 additional shares and bringing its total holding to 19,889 shares valued at about $3.19 million.
• MSA Safety reported strong quarterly results, with EPS of $1.99 topping estimates and revenue of $463.63 million, up 10% year over year. Analysts still have a cautious stance overall, with a consensus rating of Hold and an average price target of $204.83.
• The company raised its dividend to $0.54 per share quarterly and approved a $500 million share repurchase plan, signaling confidence in its valuation and cash flow. The new dividend implies a 1.3% annual yield and a modest increase from the prior payout.

Swedbank AB increased its position in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 730.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,889 shares of the industrial products company's stock after purchasing an additional 17,493 shares during the quarter. Swedbank AB owned 0.05% of MSA Safety Incorporporated worth $3,185,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cooke & Bieler LP lifted its stake in MSA Safety Incorporporated by 1.3% during the third quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock worth $141,892,000 after purchasing an additional 10,858 shares during the last quarter. New York State Common Retirement Fund increased its position in MSA Safety Incorporporated by 2.4% in the third quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock worth $26,893,000 after buying an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in MSA Safety Incorporporated in the third quarter worth $782,000. Alps Advisors Inc. acquired a new stake in MSA Safety Incorporporated in the third quarter worth $15,282,000. Finally, Citigroup Inc. increased its position in MSA Safety Incorporporated by 123.6% in the third quarter. Citigroup Inc. now owns 46,775 shares of the industrial products company's stock worth $8,049,000 after buying an additional 25,856 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on MSA. B. Riley Financial reaffirmed a "buy" rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. DA Davidson increased their target price on MSA Safety Incorporporated from $186.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a research report on Tuesday, March 31st. JPMorgan Chase & Co. began coverage on MSA Safety Incorporporated in a research report on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 target price on the stock. Finally, National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $204.83.

MSA Safety Incorporporated Price Performance

Shares of MSA opened at $169.70 on Friday. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.93 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 3.17. MSA Safety Incorporporated has a one year low of $151.10 and a one year high of $208.92. The stock's fifty day moving average is $174.71 and its 200-day moving average is $172.23.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The company had revenue of $463.63 million for the quarter, compared to analyst estimates of $451.28 million. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.68 earnings per share. Equities analysts anticipate that MSA Safety Incorporporated will post 8.83 EPS for the current year.

MSA Safety Incorporporated Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change 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%.

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

Insider Activity at MSA Safety Incorporporated

In other news, CAO Jonathan D. Buck sold 1,100 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was 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 approximately $658,054.32. This trade represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company's stock.

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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