Royce & Associates LP Acquires 9,840 Shares of MSA Safety Incorporporated $MSA

Key Points

• Royce & Associates LP boosted its MSA Safety stake by 11.4% in the fourth quarter, buying 9,840 shares and bringing its total holdings to 95,838 shares worth about $15.35 million.
• MSA Safety reported strong quarterly results, with EPS of $1.99 beating estimates and revenue of $463.63 million topping expectations; revenue rose 10% year over year.
• The company also raised its quarterly dividend to $0.54 per share and has an active $500 million share buyback program, signaling continued confidence from management.

Royce & Associates LP increased its holdings in MSA Safety Incorporporated (NYSE:MSA - Free Report) by 11.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 95,838 shares of the industrial products company's stock after buying an additional 9,840 shares during the quarter. Royce & Associates LP owned about 0.24% of MSA Safety Incorporporated worth $15,347,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. increased its holdings in MSA Safety Incorporporated by 700.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company's stock worth $25,000 after buying an additional 126 shares in the last quarter. eCIO Inc. bought a new stake in shares of MSA Safety Incorporporated during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of 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. Picton Mahoney Asset Management bought a new stake in shares of MSA Safety Incorporporated during the 3rd quarter valued at about $43,000. Finally, Kelleher Financial Advisors bought a new stake in shares of MSA Safety Incorporporated during the 4th quarter valued at about $50,000. 92.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSA has been the subject of a number of recent research reports. National Bank Financial set a $235.00 price target on MSA Safety Incorporporated in a research note on Wednesday, February 18th. Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a research note on Wednesday, May 6th. DA Davidson cut their price target on 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. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. initiated coverage on MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They set a "neutral" rating and a $200.00 price target for the company. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, MSA Safety Incorporporated presently has a consensus rating of "Hold" and an average target price of $200.00.

MSA Safety Incorporporated Price Performance

MSA stock opened at $173.47 on Wednesday. MSA Safety Incorporporated has a one year low of $151.10 and a one year high of $208.92. The company's fifty day moving average price is $169.97 and its 200-day moving average price is $172.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.92 and a current ratio of 3.17. The company has a market capitalization of $6.70 billion, a PE ratio of 23.44 and a beta of 0.97.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $463.63 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. On average, equities analysts anticipate that MSA Safety Incorporporated will post 8.86 EPS for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The company also recently disclosed 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 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. This represents a $2.16 annualized dividend and a dividend yield of 1.2%. MSA Safety Incorporporated's payout ratio is currently 29.19%.

MSA Safety Incorporporated announced that its Board of Directors has initiated a stock buyback program on Thursday, February 26th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 6.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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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