Vanguard Group Inc. Acquires 82,305 Shares of MSA Safety Incorporporated $MSA

Key Points

• Vanguard increased its stake by 2.2% in the fourth quarter, buying 82,305 shares to hold 3,792,712 shares (about 9.69% of MSA), valued at roughly $607.4 million.
• MSA’s board approved a $500 million share buyback, authorizing repurchases of up to 6.6% of outstanding shares, signaling management believes the stock may be undervalued.
• MSA beat quarterly estimates with EPS of $2.38 vs. $2.26 expected and revenue of $510.9 million, though analysts’ consensus remains a Hold with a $204.50 price target.

Vanguard Group Inc. increased its holdings in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,792,712 shares of the industrial products company's stock after acquiring an additional 82,305 shares during the quarter. Vanguard Group Inc. owned about 9.69% of MSA Safety Incorporporated worth $607,365,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cooke & Bieler LP increased its position in MSA Safety Incorporporated by 1.3% during the third quarter. Cooke & Bieler LP now owns 824,620 shares of the industrial products company's stock worth $141,892,000 after acquiring an additional 10,858 shares during the period. New York State Common Retirement Fund increased its holdings in MSA Safety Incorporporated by 2.4% in the 3rd quarter. New York State Common Retirement Fund now owns 156,293 shares of the industrial products company's stock valued at $26,893,000 after buying an additional 3,600 shares during the period. Y Intercept Hong Kong Ltd bought a new position in MSA Safety Incorporporated in the 3rd quarter valued at about $782,000. Alps Advisors Inc. bought a new position in MSA Safety Incorporporated in the 3rd quarter valued at about $15,282,000. Finally, Citigroup Inc. increased its holdings in MSA Safety Incorporporated by 123.6% in the 3rd quarter. Citigroup Inc. now owns 46,775 shares of the industrial products company's stock valued at $8,049,000 after buying an additional 25,856 shares during the period. 92.51% of the stock is owned by institutional investors.

MSA Safety Incorporporated Trading Up 0.0%

MSA opened at $165.79 on Monday. MSA Safety Incorporporated has a fifty-two week low of $151.10 and a fifty-two week high of $208.92. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.01 and a quick ratio of 1.82. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 23.42 and a beta of 0.97. The company's 50 day moving average price is $176.16 and its two-hundred day moving average price is $172.11.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last posted its earnings results on Wednesday, February 11th. The industrial products company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $510.91 million for the quarter, compared to analyst estimates of $508.62 million. During the same period in the previous year, the firm posted $2.25 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts predict that MSA Safety Incorporporated will post 8.74 earnings per share for the current year.

MSA Safety Incorporporated announced that its board has approved a share buyback plan on Thursday, February 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 6.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total transaction of $223,828.00. Following the sale, the chief accounting officer directly owned 3,234 shares of the company's stock, valued at $658,054.32. The trade was a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MSA shares. Weiss Ratings lowered shares of MSA Safety Incorporporated from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 6th. Wall Street Zen lowered shares of MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. Robert W. Baird decreased their target price on shares of MSA Safety Incorporporated from $205.00 to $195.00 and set a "neutral" rating on the stock in a report on Monday, March 30th. B. Riley Financial reissued a "buy" rating on shares of MSA Safety Incorporporated in a report on Thursday, February 12th. Finally, National Bank Financial set a $235.00 price target on shares of MSA Safety Incorporporated in a report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, MSA Safety Incorporporated presently has a consensus rating of "Hold" and a consensus price target of $204.50.

MSA Safety Incorporporated Company 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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