PNC Financial Services Group Inc. Has $13.32 Million Stake in MSA Safety Incorporporated (NYSE:MSA)

Key Points

• PNC Financial Services Group Inc. increased its holdings in MSA Safety Incorporated by 2.6%, owning 90,774 shares valued at approximately $13.3 million.
• MSA Safety Incorporated reported $1.93 EPS for the quarter, beating analyst estimates, with revenue of $474.12 million, surpassing expectations of $446.46 million.
• The company is declaring a quarterly dividend of $0.53 per share, with an annualized yield of 1.2%, payable on September 10th to investors of record on August 15th.

PNC Financial Services Group Inc. raised its stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 90,774 shares of the industrial products company's stock after buying an additional 2,306 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.23% of MSA Safety Incorporporated worth $13,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MSA. Bayforest Capital Ltd increased its holdings in shares of MSA Safety Incorporporated by 3,400.0% during the first quarter. Bayforest Capital Ltd now owns 175 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 170 shares during the period. GAMMA Investing LLC increased its holdings in shares of MSA Safety Incorporporated by 39.4% during the first quarter. GAMMA Investing LLC now owns 269 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 76 shares during the period. UMB Bank n.a. increased its holdings in shares of MSA Safety Incorporporated by 54.4% during the first quarter. UMB Bank n.a. now owns 281 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 99 shares during the period. Fifth Third Bancorp increased its holdings in shares of MSA Safety Incorporporated by 24.7% during the first quarter. Fifth Third Bancorp now owns 682 shares of the industrial products company's stock valued at $100,000 after purchasing an additional 135 shares during the period. Finally, Covestor Ltd increased its holdings in shares of MSA Safety Incorporporated by 8.2% during the fourth quarter. Covestor Ltd now owns 869 shares of the industrial products company's stock valued at $144,000 after purchasing an additional 66 shares during the period. 92.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MSA Safety Incorporporated news, Chairman Nishan J. Vartanian sold 30,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $161.32, for a total transaction of $4,839,600.00. Following the completion of the sale, the chairman directly owned 35,401 shares in the company, valued at approximately $5,710,889.32. This trade represents a 45.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

MSA has been the topic of a number of research analyst reports. DA Davidson raised their price target on MSA Safety Incorporporated from $183.00 to $203.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Stifel Nicolaus initiated coverage on MSA Safety Incorporporated in a report on Wednesday, July 16th. They set a "hold" rating and a $182.00 price target on the stock. Wall Street Zen lowered MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a report on Friday, July 18th. B. Riley reaffirmed a "buy" rating and set a $195.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a report on Thursday, May 1st. Finally, Robert W. Baird set a $166.00 target price on MSA Safety Incorporporated in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $189.20.

MSA Safety Incorporporated Price Performance

NYSE:MSA traded down $2.40 during mid-day trading on Friday, reaching $174.54. 285,686 shares of the stock were exchanged, compared to its average volume of 195,378. The business has a fifty day moving average price of $171.43 and a 200 day moving average price of $160.77. The firm has a market capitalization of $6.83 billion, a PE ratio of 24.90 and a beta of 0.96. MSA Safety Incorporporated has a 1-year low of $127.86 and a 1-year high of $187.41. The company has a current ratio of 3.11, a quick ratio of 1.84 and a debt-to-equity ratio of 0.54.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last released its earnings results on Monday, August 4th. The industrial products company reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.17. The firm had revenue of $474.12 million for the quarter, compared to analyst estimates of $446.46 million. MSA Safety Incorporporated had a return on equity of 26.03% and a net margin of 15.15%. MSA Safety Incorporporated's revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. Research analysts expect that MSA Safety Incorporporated will post 8.06 earnings per share for the current fiscal year.

MSA Safety Incorporporated Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. MSA Safety Incorporporated's dividend payout ratio (DPR) is presently 30.24%.

About MSA Safety Incorporporated

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.