Zacks Investment Research upgraded shares of MSA Safety Incorporporated (NYSE:MSA) from a hold rating to a buy rating in a research note released on Thursday, October 26th. The brokerage currently has $91.00 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. “
Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a buy rating and set a $91.00 price target on shares of MSA Safety Incorporporated in a research note on Friday, August 4th. Barrington Research restated a market perform rating on shares of MSA Safety Incorporporated in a research note on Monday, October 23rd. Robert W. Baird raised their price target on shares of MSA Safety Incorporporated from $80.00 to $89.00 and gave the stock a neutral rating in a research note on Sunday, October 22nd. Finally, BidaskClub upgraded shares of MSA Safety Incorporporated from a strong sell rating to a sell rating in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. MSA Safety Incorporporated presently has a consensus rating of Hold and an average price target of $89.00.
MSA Safety Incorporporated (NYSE MSA) traded down $0.36 during trading on Thursday, reaching $78.16. 75,400 shares of the company’s stock traded hands, compared to its average volume of 183,915. The firm has a market capitalization of $2,972.58, a P/E ratio of 24.97 and a beta of 1.68. MSA Safety Incorporporated has a 52-week low of $59.50 and a 52-week high of $85.80. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.11 and a quick ratio of 1.52.
MSA Safety Incorporporated (NYSE:MSA) last released its earnings results on Thursday, October 19th. The industrial products company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $296.13 million during the quarter, compared to analysts’ expectations of $298.47 million. During the same quarter last year, the company earned $0.72 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. equities research analysts forecast that MSA Safety Incorporporated will post 3.31 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Sunday, December 10th. Investors of record on Tuesday, November 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Monday, November 13th. MSA Safety Incorporporated’s dividend payout ratio is currently 64.52%.
In other MSA Safety Incorporporated news, Director John T. Ryan III sold 32,100 shares of MSA Safety Incorporporated stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $71.43, for a total transaction of $2,292,903.00. Following the completion of the sale, the director now owns 1,025,013 shares of the company’s stock, valued at approximately $73,216,678.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman William M. Lambert sold 7,258 shares of MSA Safety Incorporporated stock in a transaction on Monday, November 6th. The stock was sold at an average price of $79.55, for a total transaction of $577,373.90. Following the sale, the chairman now directly owns 164,737 shares of the company’s stock, valued at approximately $13,104,828.35. The disclosure for this sale can be found here. In the last three months, insiders sold 64,834 shares of company stock valued at $4,847,536. 15.53% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of MSA Safety Incorporporated by 184.5% during the third quarter. Wells Fargo & Company MN now owns 119,442 shares of the industrial products company’s stock worth $9,496,000 after purchasing an additional 77,462 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of MSA Safety Incorporporated during the third quarter worth $270,000. JPMorgan Chase & Co. boosted its position in shares of MSA Safety Incorporporated by 77.8% during the third quarter. JPMorgan Chase & Co. now owns 87,602 shares of the industrial products company’s stock worth $7,077,000 after purchasing an additional 38,337 shares in the last quarter. Legal & General Group Plc boosted its position in shares of MSA Safety Incorporporated by 17.5% during the third quarter. Legal & General Group Plc now owns 28,958 shares of the industrial products company’s stock worth $2,305,000 after purchasing an additional 4,303 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of MSA Safety Incorporporated by 6.7% during the third quarter. Eagle Asset Management Inc. now owns 248,728 shares of the industrial products company’s stock worth $20,169,000 after purchasing an additional 15,618 shares in the last quarter. 66.26% of the stock is currently owned by institutional investors.
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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