Zacks Investment Research upgraded shares of MSA Safety (NYSE:MSA) from a hold rating to a buy rating in a report released on Saturday. The brokerage currently has $92.00 price objective on the industrial products company’s stock.
According to Zacks, “MSA Safety Inc. is engaged in the development, manufacture and supply of safety products that protect people and facility infrastructures. The company’s core product lines include self-contained breathing apparatus, fixed gas and flame detection systems, handheld gas detection instruments, industrial and fire service head protection products and fall protection devices. It serves a broad range of industries, including the oil, gas and petrochemical industry, the fire service, construction, mining and general industry. MSA Safety Inc., formerly known as Mine Safety Appliances Company, is headquartered in Cranberry Township, Pennsylvania. “
A number of other research firms have also recently commented on MSA. Robert W. Baird raised shares of MSA Safety from a neutral rating to an outperform rating and set a $89.00 target price for the company in a report on Thursday, February 22nd. TheStreet cut shares of MSA Safety from an a- rating to a c+ rating in a report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $90.00.
MSA Safety (NYSE:MSA) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.31. The business had revenue of $346.00 million during the quarter, compared to analysts’ expectations of $326.62 million. MSA Safety had a net margin of 2.17% and a return on equity of 23.91%. MSA Safety’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. analysts expect that MSA Safety will post 4.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 10th. Stockholders of record on Wednesday, February 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.65%. MSA Safety’s dividend payout ratio (DPR) is currently 215.39%.
In other news, insider Kerry M. Bove sold 1,500 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $82.50, for a total value of $123,750.00. Following the completion of the transaction, the insider now owns 56,739 shares of the company’s stock, valued at $4,680,967.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.47% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of MSA Safety by 3.3% in the second quarter. Royal Bank of Canada now owns 1,643 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 53 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of MSA Safety by 142.6% in the fourth quarter. Advisor Group Inc. now owns 1,647 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 968 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of MSA Safety by 126.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,817 shares of the industrial products company’s stock worth $144,000 after acquiring an additional 1,015 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of MSA Safety by 99.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,200 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MSA Safety by 44.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,253 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 693 shares during the last quarter. 68.57% of the stock is owned by hedge funds and other institutional investors.
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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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