State Board of Administration of Florida Retirement System decreased its position in shares of MSA Safety Inc. (NYSE:MSA) by 17.1% during the second quarter, Holdings Channel reports. The firm owned 17,311 shares of the company’s stock after selling 3,569 shares during the period. State Board of Administration of Florida Retirement System’s holdings in MSA Safety were worth $909,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in MSA Safety during the fourth quarter worth about $11,257,000. Silvercrest Asset Management Group LLC increased its position in MSA Safety by 10.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,109,823 shares of the company’s stock worth $102,010,000 after buying an additional 192,279 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in MSA Safety during the second quarter worth about $9,806,000. Goldman Sachs Group Inc. increased its position in MSA Safety by 22.9% in the first quarter. Goldman Sachs Group Inc. now owns 509,344 shares of the company’s stock worth $24,627,000 after buying an additional 95,030 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in MSA Safety during the first quarter worth about $2,814,000. Institutional investors and hedge funds own 60.18% of the company’s stock.
Shares of MSA Safety Inc. (NYSE:MSA) traded down 0.32% during midday trading on Monday, reaching $55.74. The company had a trading volume of 52,888 shares. The company has a 50 day moving average of $56.31 and a 200 day moving average of $51.90. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 26.47 and a beta of 1.62. MSA Safety Inc. has a 12-month low of $37.68 and a 12-month high of $58.62.
MSA Safety (NYSE:MSA) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business earned $296 million during the quarter, compared to the consensus estimate of $301.02 million. MSA Safety had a return on equity of 19.19% and a net margin of 6.69%. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Analysts anticipate that MSA Safety Inc. will post $2.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Thursday, August 18th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.36%. MSA Safety’s dividend payout ratio (DPR) is 64.39%.
A number of equities analysts recently weighed in on the stock. Robert W. Baird downgraded shares of MSA Safety from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $54.00 to $57.00 in a report on Friday, July 22nd. Stifel Nicolaus raised shares of MSA Safety from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Tuesday, June 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $55.50.
In other MSA Safety news, insider William M. Lambert sold 19,200 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $55.03, for a total value of $1,056,576.00. Following the completion of the transaction, the insider now owns 162,806 shares in the company, valued at $8,959,214.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Douglas K. Mcclaine sold 4,731 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $56.00, for a total value of $264,936.00. Following the completion of the transaction, the insider now owns 36,428 shares of the company’s stock, valued at approximately $2,039,968. The disclosure for this sale can be found here. 15.53% of the stock is owned by company insiders.
MSA Safety Company Profile
Mine Safety Appliances Company is engaged in the development, manufacture and supply of products that protect people’s health and safety. The Company’s line of safety products is used by workers worldwide in the fire service, homeland security, oil and gas, construction and other industries, as well as the military.
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