Pullen Investment Management LLC Takes Position in MSA Safety Incorporporated $MSA

Key Points

• Pullen Investment Management initiated a new position in MSA, buying 16,026 shares in Q4 valued at about $2.57 million, which is roughly 1.4% of its portfolio and its 24th largest holding.
• MSA authorized a $500 million share repurchase (up to ~6.6% of shares) and reported quarterly EPS of $2.38 (beat) with revenue of $510.9 million, while the company has a $6.4 billion market cap and a P/E of 23.3.
• Analysts hold a consensus rating of "Hold" with a $203.14 price target, reflecting mixed views—some upgrades (Weiss, B. Riley) alongside neutral/trimmed targets from firms like JPMorgan and Robert W. Baird.

Pullen Investment Management LLC bought a new stake in MSA Safety Incorporporated (NYSE:MSA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,026 shares of the industrial products company's stock, valued at approximately $2,566,000. MSA Safety Incorporporated comprises about 1.4% of Pullen Investment Management LLC's investment portfolio, making the stock its 24th biggest holding.

Several other large investors have also recently added to or reduced their stakes in MSA. Cooke & Bieler LP grew its holdings in MSA Safety Incorporporated by 1.3% in the 3rd quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock valued at $141,892,000 after buying an additional 10,858 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of MSA Safety Incorporporated by 2.4% during the 3rd quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock worth $26,893,000 after acquiring an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of MSA Safety Incorporporated in the third quarter worth approximately $782,000. Alps Advisors Inc. purchased a new stake in MSA Safety Incorporporated in the third quarter valued at approximately $15,282,000. Finally, Invesco Ltd. grew its holdings in MSA Safety Incorporporated by 6.8% in the second quarter. Invesco Ltd. now owns 449,136 shares of the industrial products company's stock valued at $75,244,000 after purchasing an additional 28,481 shares during the period. 92.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on MSA shares. Weiss Ratings raised shares of MSA Safety Incorporporated from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, January 26th. B. Riley Financial reissued a "buy" rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. Robert W. Baird dropped their price objective on MSA Safety Incorporporated from $205.00 to $195.00 and set a "neutral" rating for the company in a report on Monday, March 30th. National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a research report on Wednesday, February 18th. Finally, JPMorgan Chase & Co. began coverage on MSA Safety Incorporporated in a report on Tuesday, February 3rd. They issued a "neutral" rating and a $200.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $203.14.

MSA Safety Incorporporated Trading Down 0.1%

NYSE MSA opened at $164.94 on Friday. MSA Safety Incorporporated has a one year low of $127.86 and a one year high of $208.92. The company's 50 day moving average price is $184.17 and its 200 day moving average price is $172.35. 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 firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 23.30 and a beta of 1.05.

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

MSA Safety Incorporporated Cuts Dividend

The business also recently declared 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 1.3%. The ex-dividend date was Friday, February 13th. MSA Safety Incorporporated's dividend payout ratio is currently 29.94%.

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

Insider Transactions at MSA Safety Incorporporated

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total value of $223,828.00. Following the completion of the sale, the chief accounting officer owned 3,234 shares of the company's stock, valued at $658,054.32. This trade represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

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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