Summit Financial LLC Raises Position in MSA Safety Incorporporated $MSA

Key Points

• Summit Financial LLC significantly increased its stake in MSA Safety Incorporated by acquiring 14,718 shares during the first quarter, raising its total holdings by 1,180.3% to 15,965 shares valued at approximately $2.34 million.
• MSA Safety Incorporated reported earnings of $1.93 per share for the last quarter, exceeding analysts' expectations of $1.76, and generated revenue of $474.12 million, surpassing the forecast of $446.46 million.
• The company has announced a quarterly dividend of $0.53 per share, yielding 1.2%, with a dividend payout ratio of 30.24%, reinforcing its commitment to returning value to shareholders.

Summit Financial LLC boosted its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 1,180.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,965 shares of the industrial products company's stock after purchasing an additional 14,718 shares during the period. Summit Financial LLC's holdings in MSA Safety Incorporporated were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MSA. Bayforest Capital Ltd lifted its position in 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 raised its position in shares of MSA Safety Incorporporated by 39.4% in the first quarter. GAMMA Investing LLC now owns 269 shares of the industrial products company's stock worth $39,000 after acquiring an additional 76 shares during the period. UMB Bank n.a. raised its position in shares of MSA Safety Incorporporated by 54.4% in the first quarter. UMB Bank n.a. now owns 281 shares of the industrial products company's stock worth $41,000 after acquiring an additional 99 shares during the period. Fifth Third Bancorp raised its position in shares of MSA Safety Incorporporated by 24.7% in the first quarter. Fifth Third Bancorp now owns 682 shares of the industrial products company's stock worth $100,000 after acquiring an additional 135 shares during the period. Finally, Covestor Ltd raised its position in shares of MSA Safety Incorporporated by 11.6% in the first 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 period. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MSA has been the subject of several research reports. Stifel Nicolaus started coverage on shares of MSA Safety Incorporporated in a research note on Wednesday, July 16th. They set a "hold" rating and a $182.00 price objective for the company. Wall Street Zen raised shares of MSA Safety Incorporporated from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. DA Davidson increased their target price on shares of MSA Safety Incorporporated from $183.00 to $203.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. B. Riley restated a "buy" rating and issued a $195.00 price objective (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 price objective on shares of MSA Safety Incorporporated in a report on Monday, May 5th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, MSA Safety Incorporporated has an average rating of "Hold" and a consensus target price of $189.20.

MSA Safety Incorporporated Stock Performance

MSA Safety Incorporporated stock traded down $0.76 during midday trading on Thursday, hitting $173.37. 41,940 shares of the company's stock were exchanged, compared to its average volume of 206,481. MSA Safety Incorporporated has a 12-month low of $127.86 and a 12-month high of $187.41. 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 stock has a market cap of $6.79 billion, a price-to-earnings ratio of 24.73 and a beta of 0.96. The firm's 50 day simple moving average is $173.19 and its 200 day simple moving average is $161.37.

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