MSA Safety Incorporporated $MSA Stock Position Decreased by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services Group reduced its stake in MSA Safety by 8.4% in the fourth quarter, selling 7,544 shares and ending with 82,023 shares valued at about $13.1 million.
• MSA Safety beat quarterly expectations, reporting EPS of $1.99 versus the $1.85 consensus and revenue of $463.63 million, up 10% year over year.
• The company also raised its quarterly dividend to $0.54 per share and authorized a $500 million stock buyback program, while analysts currently rate the stock a Hold on average.

PNC Financial Services Group Inc. lessened its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,023 shares of the industrial products company's stock after selling 7,544 shares during the period. PNC Financial Services Group Inc. owned 0.21% of MSA Safety Incorporporated worth $13,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MSA. Royal Bank of Canada boosted its stake in MSA Safety Incorporporated by 39.8% during the 1st quarter. Royal Bank of Canada now owns 47,391 shares of the industrial products company's stock valued at $6,953,000 after purchasing an additional 13,501 shares during the period. Integrated Wealth Concepts LLC acquired a new position in MSA Safety Incorporporated during the 1st quarter valued at about $501,000. Jane Street Group LLC boosted its stake in MSA Safety Incorporporated by 44.7% during the 1st quarter. Jane Street Group LLC now owns 4,401 shares of the industrial products company's stock valued at $646,000 after purchasing an additional 1,359 shares during the period. EverSource Wealth Advisors LLC boosted its stake in MSA Safety Incorporporated by 94.1% during 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 during the period. Finally, Baird Financial Group Inc. boosted its stake in MSA Safety Incorporporated by 31.5% during the 2nd quarter. Baird Financial Group Inc. now owns 2,757 shares of the industrial products company's stock valued at $462,000 after purchasing an additional 661 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MSA shares. Wall Street Zen raised shares of MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. B. Riley Financial reissued a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. DA Davidson reduced their target price on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. started coverage on shares of MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They set a "neutral" rating and a $200.00 target price for the company. Finally, National Bank Financial set a $235.00 target price on shares of MSA Safety Incorporporated in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $200.00.

MSA Safety Incorporporated Trading Up 1.4%

Shares of NYSE:MSA opened at $170.92 on Friday. The company has a 50 day moving average of $170.21 and a 200-day moving average of $172.58. The firm has a market cap of $6.60 billion, a P/E ratio of 23.10 and a beta of 0.97. MSA Safety Incorporporated has a twelve month low of $151.10 and a twelve month high of $208.92. The company has a current ratio of 3.17, a quick ratio of 1.92 and a debt-to-equity ratio of 0.45.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. The company had revenue of $463.63 million during the quarter, compared to analyst estimates of $451.28 million. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The business's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.68 EPS. As a group, analysts anticipate that MSA Safety Incorporporated will post 8.86 earnings per share for the current fiscal year.

MSA Safety Incorporporated announced that its board has approved a stock repurchase plan on Thursday, February 26th that allows the company to buyback $500.00 million in 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 typically an indication that the company's board of directors believes its shares are undervalued.

MSA Safety Incorporporated Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. MSA Safety Incorporporated's dividend payout ratio (DPR) is currently 29.19%.

About MSA Safety Incorporporated

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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