Y Intercept Hong Kong Ltd Buys New Stake in MSA Safety Incorporporated $MSA

Key Points

• Y Intercept Hong Kong Ltd opened a new position in MSA Safety, buying 7,217 shares worth about $1.18 million in the first quarter. Several other institutional investors also increased or initiated stakes, and institutions now own 92.51% of the stock.
• MSA Safety reported better-than-expected quarterly results, with EPS of $1.99 versus the $1.85 estimate and revenue of $463.63 million, up 10% year over year. Analysts currently expect full-year EPS of 8.86.
• The company raised its dividend to $0.54 per quarter from $0.53, implying a 1.3% yield and a payout ratio of 29.19%. Meanwhile, analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $200.00.

Y Intercept Hong Kong Ltd bought a new stake in shares of MSA Safety Incorporporated (NYSE:MSA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,217 shares of the industrial products company's stock, valued at approximately $1,183,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Keybank National Association OH increased its holdings in shares of MSA Safety Incorporporated by 7.0% during the first quarter. Keybank National Association OH now owns 3,192 shares of the industrial products company's stock valued at $523,000 after purchasing an additional 210 shares during the period. Root Financial Partners LLC increased its stake in MSA Safety Incorporporated by 109.3% during the 1st quarter. Root Financial Partners LLC now owns 157 shares of the industrial products company's stock valued at $26,000 after buying an additional 82 shares during the period. MQS Management LLC bought a new stake in shares of MSA Safety Incorporporated during the 1st quarter worth about $212,000. Janney Montgomery Scott LLC raised its position in shares of MSA Safety Incorporporated by 36.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,351 shares of the industrial products company's stock worth $2,025,000 after buying an additional 3,314 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in shares of MSA Safety Incorporporated by 5.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,033 shares of the industrial products company's stock worth $989,000 after acquiring an additional 308 shares during the period. Institutional investors own 92.51% of the company's stock.

Insider Activity

In related news, CFO Julie A. Beck acquired 448 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $158.69 per share, for a total transaction of $71,093.12. Following the transaction, the chief financial officer owned 3,825 shares of the company's stock, valued at approximately $606,989.25. The trade was a 13.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MSA shares. DA Davidson decreased their price objective on shares of MSA Safety Incorporporated from $235.00 to $206.00 and set a "buy" rating for the company in a report on Monday, May 11th. Jefferies Financial Group reissued a "hold" rating and set a $180.00 target price (down from $200.00) on shares of MSA Safety Incorporporated in a report on Tuesday, March 31st. Wall Street Zen upgraded MSA Safety Incorporporated from a "hold" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Robert W. Baird set a $197.00 price target on MSA Safety Incorporporated in a research note on Wednesday, May 6th. Finally, Weiss Ratings cut MSA Safety Incorporporated from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $200.00.

MSA Safety Incorporporated Price Performance

NYSE MSA traded up $3.19 on Friday, reaching $171.04. The company's stock had a trading volume of 252,706 shares, compared to its average volume of 313,613. MSA Safety Incorporporated has a twelve month low of $151.10 and a twelve month high of $208.92. 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 firm's 50 day moving average is $167.31 and its two-hundred day moving average is $174.20. The stock has a market cap of $6.60 billion, a PE ratio of 23.11 and a beta of 0.95.

MSA Safety Incorporporated (NYSE:MSA - Get Free Report) last announced 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. MSA Safety Incorporporated had a net margin of 15.16% and a return on equity of 24.54%. The company had revenue of $463.63 million for the quarter, compared to analysts' expectations of $451.28 million. During the same quarter in the previous year, the company posted $1.68 EPS. The business's revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that MSA Safety Incorporporated will post 8.86 EPS for the current year.

MSA Safety Incorporporated Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $0.54 dividend. This is an increase from MSA Safety Incorporporated's previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, May 15th. MSA Safety Incorporporated's dividend payout ratio is currently 29.19%.

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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