Nuveen LLC Purchases New Position in MSA Safety Incorporporated $MSA

Key Points

• Nuveen LLC acquired a new stake in MSA Safety Incorporated, purchasing 99,740 shares worth approximately $14.63 million, which brings its ownership to 0.25% of the company.
• MSA Safety Incorporated reported earnings of $1.93 EPS for the latest quarter, exceeding expectations by $0.17, and the company's revenue increased by 2.5% year-over-year.
• The firm will pay a quarterly dividend of $0.53 on September 10th, with a current dividend yield of 1.2% and a payout ratio of 30.24%.

Nuveen LLC bought a new stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 99,740 shares of the industrial products company's stock, valued at approximately $14,631,000. Nuveen LLC owned 0.25% of MSA Safety Incorporporated as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Entropy Technologies LP raised its holdings in MSA Safety Incorporporated by 194.4% in the 1st quarter. Entropy Technologies LP now owns 5,300 shares of the industrial products company's stock valued at $777,000 after buying an additional 3,500 shares during the period. Invesco Ltd. raised its holdings in MSA Safety Incorporporated by 0.5% in the 1st quarter. Invesco Ltd. now owns 420,655 shares of the industrial products company's stock valued at $61,706,000 after buying an additional 2,213 shares during the period. Covestor Ltd lifted its holdings in shares of MSA Safety Incorporporated by 11.6% in the 1st quarter. Covestor Ltd now owns 970 shares of the industrial products company's stock worth $142,000 after acquiring an additional 101 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of MSA Safety Incorporporated by 1.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,027,471 shares of the industrial products company's stock worth $297,410,000 after acquiring an additional 27,692 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of MSA Safety Incorporporated by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 90,774 shares of the industrial products company's stock worth $13,316,000 after purchasing an additional 2,306 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSA has been the topic of a number of research analyst reports. Wall Street Zen raised MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. B. Riley reiterated a "buy" rating and issued a $195.00 price objective (down previously from $200.00) on shares of MSA Safety Incorporporated in a report on Thursday, May 1st. Robert W. Baird set a $166.00 target price on MSA Safety Incorporporated in a report on Monday, May 5th. DA Davidson lifted their target price on MSA Safety Incorporporated from $183.00 to $203.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, Stifel Nicolaus assumed coverage on shares of MSA Safety Incorporporated in a research report on Wednesday, July 16th. They set a "hold" rating and a $182.00 price target on the stock. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $189.20.

MSA Safety Incorporporated Stock Up 3.1%

MSA stock traded up $5.2520 during mid-day trading on Friday, reaching $175.9620. The company had a trading volume of 167,829 shares, compared to its average volume of 238,478. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.90 and a current ratio of 3.11. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 25.10 and a beta of 0.96. The firm has a fifty day simple moving average of $172.75 and a 200 day simple moving average of $161.21. MSA Safety Incorporporated has a fifty-two week low of $127.86 and a fifty-two week high of $187.41.

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

MSA Safety Incorporporated Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. MSA Safety Incorporporated's dividend payout ratio is 30.24%.

MSA Safety Incorporporated Profile

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.