Zacks Investment Research downgraded shares of MSA Safety Incorporporated (NYSE:MSA) from a hold rating to a sell rating in a research report report published on Friday, October 20th.
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. “
Several other analysts have also issued reports on MSA. BidaskClub lowered shares of MSA Safety Incorporporated from a buy rating to a hold rating in a research note on Friday, June 23rd. Robert W. Baird increased their price target on shares of MSA Safety Incorporporated from $82.00 to $84.00 and gave the company an outperform rating in a research report on Friday, June 30th. Finally, Stifel Nicolaus restated a buy rating and set a $91.00 price target on shares of MSA Safety Incorporporated in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $89.75.
Shares of MSA Safety Incorporporated (MSA) opened at 81.31 on Friday. The firm has a market capitalization of $3.10 billion, a P/E ratio of 40.96 and a beta of 1.64. The stock’s 50 day moving average price is $77.64 and its 200 day moving average price is $76.97. MSA Safety Incorporporated has a 52 week low of $55.27 and a 52 week high of $85.80.
MSA Safety Incorporporated (NYSE:MSA) last released its earnings results on Thursday, October 19th. The industrial products company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.13. MSA Safety Incorporporated had a net margin of 7.32% and a return on equity of 20.56%. The company had revenue of $296.13 million for the quarter, compared to the consensus estimate of $298.47 million. During the same quarter in the previous year, the company earned $0.72 EPS. MSA Safety Incorporporated’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that MSA Safety Incorporporated will post $3.28 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.72%. MSA Safety Incorporporated’s dividend payout ratio is presently 64.52%.
In related news, Director John T. Ryan III sold 32,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $71.43, for a total value of $2,292,903.00. Following the sale, the director now directly owns 1,025,013 shares of the company’s stock, valued at $73,216,678.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Markus H. Weber sold 5,811 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.80, for a total transaction of $423,040.80. Following the completion of the sale, the vice president now directly owns 15,950 shares in the company, valued at $1,161,160. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,724 shares of company stock worth $3,642,145. Insiders own 15.53% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in MSA Safety Incorporporated by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,596 shares of the industrial products company’s stock valued at $373,000 after buying an additional 18 shares during the period. Capstone Asset Management Co. lifted its position in MSA Safety Incorporporated by 0.7% during the second quarter. Capstone Asset Management Co. now owns 2,863 shares of the industrial products company’s stock valued at $232,000 after buying an additional 20 shares during the period. Jennison Associates LLC lifted its position in MSA Safety Incorporporated by 0.3% during the second quarter. Jennison Associates LLC now owns 8,538 shares of the industrial products company’s stock valued at $693,000 after buying an additional 26 shares during the period. Royal Bank of Canada lifted its position in MSA Safety Incorporporated by 3.3% during the second quarter. Royal Bank of Canada now owns 1,643 shares of the industrial products company’s stock valued at $133,000 after buying an additional 53 shares during the period. Finally, Bank of Montreal Can lifted its position in MSA Safety Incorporporated by 2.0% during the second quarter. Bank of Montreal Can now owns 2,908 shares of the industrial products company’s stock valued at $236,000 after buying an additional 58 shares during the period. 66.49% of the stock is owned by institutional investors and hedge funds.
About MSA Safety Incorporporated
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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