Victory Capital Management Inc. Sells 55,346 Shares of MSA Safety Incorporporated (NYSE:MSA)

Key Points

• Victory Capital Management Inc. significantly reduced its stake in MSA Safety Incorporated by 88.9%, selling 55,346 shares and leaving it with just 6,913 shares valued at approximately $1,014,000.
• MSA Safety Incorporated reported a quarterly earnings per share of $1.68, exceeding analyst expectations, with revenues of $421.34 million, marking a year-over-year increase of 1.9%.
• The company announced an increase in its quarterly dividend from $0.51 to $0.53 per share, reflecting a 1.2% dividend yield.

Victory Capital Management Inc. lessened its stake in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) by 88.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,913 shares of the industrial products company's stock after selling 55,346 shares during the quarter. Victory Capital Management Inc.'s holdings in MSA Safety Incorporporated were worth $1,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSA. American Century Companies Inc. raised its holdings in shares of MSA Safety Incorporporated by 38.8% in the 4th quarter. American Century Companies Inc. now owns 56,365 shares of the industrial products company's stock worth $9,344,000 after acquiring an additional 15,761 shares during the last quarter. LPL Financial LLC raised its holdings in shares of MSA Safety Incorporporated by 2.7% in the 4th quarter. LPL Financial LLC now owns 74,940 shares of the industrial products company's stock worth $12,423,000 after acquiring an additional 1,952 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of MSA Safety Incorporporated by 21.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,536 shares of the industrial products company's stock worth $418,000 after acquiring an additional 450 shares during the last quarter. Norges Bank acquired a new stake in shares of MSA Safety Incorporporated in the 4th quarter worth about $72,693,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of MSA Safety Incorporporated by 12.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,797 shares of the industrial products company's stock worth $961,000 after acquiring an additional 650 shares during the last quarter. Institutional investors and hedge funds own 92.51% of the company's stock.

MSA Safety Incorporporated Trading Down 0.9%

NYSE:MSA opened at $177.86 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.84 and a current ratio of 2.94. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 24.53 and a beta of 0.95. MSA Safety Incorporporated has a 52 week low of $127.86 and a 52 week high of $192.12. The firm has a 50-day moving average price of $169.53 and a two-hundred day moving average price of $160.22.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.09. MSA Safety Incorporporated had a net margin of 15.77% and a return on equity of 27.65%. The company had revenue of $421.34 million during the quarter, compared to analyst estimates of $402.60 million. During the same quarter last year, the business posted $1.61 EPS. MSA Safety Incorporporated's quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that MSA Safety Incorporporated will post 8.06 earnings per share for the current fiscal year.

MSA Safety Incorporporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 15th. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.51. MSA Safety Incorporporated's dividend payout ratio (DPR) is 29.24%.

Insider Activity

In other news, Chairman Nishan J. Vartanian sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $161.32, for a total transaction of $4,839,600.00. Following the completion of the sale, the chairman owned 35,401 shares in the company, valued at $5,710,889.32. This trade represents a 45.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. B. Riley restated a "buy" rating and issued a $195.00 target price (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 price objective on shares of MSA Safety Incorporporated in a research note on Monday, May 5th. DA Davidson increased their price objective on shares of MSA Safety Incorporporated from $183.00 to $203.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus initiated coverage on shares of MSA Safety Incorporporated in a research note on Wednesday, July 16th. They issued a "hold" rating and a $182.00 price objective for the company. Finally, Wall Street Zen lowered shares of MSA Safety Incorporporated from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $189.20.

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.

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