California Public Employees Retirement System reduced its stake in shares of MSA Safety Inc. (NYSE:MSA) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 62,088 shares of the company’s stock after selling 5,700 shares during the period. California Public Employees Retirement System owned approximately 0.17% of MSA Safety worth $3,262,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. 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 valued at $102,010,000 after buying an additional 192,279 shares during the period. State Street Corp increased its position in MSA Safety by 1.5% in the first quarter. State Street Corp now owns 955,630 shares of the company’s stock valued at $46,207,000 after buying an additional 13,938 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in MSA Safety by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 900,657 shares of the company’s stock valued at $43,547,000 after buying an additional 15,370 shares during the period. 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 valued at $24,627,000 after buying an additional 95,030 shares during the period. Finally, Norges Bank acquired a new position in MSA Safety during the fourth quarter valued at approximately $11,257,000. Hedge funds and other institutional investors own 60.18% of the company’s stock.
MSA Safety Inc. (NYSE:MSA) traded down 0.86% during midday trading on Monday, reaching $55.44. 93,128 shares of the company traded hands. The firm has a 50-day moving average price of $56.31 and a 200-day moving average price of $51.90. MSA Safety Inc. has a one year low of $37.68 and a one year high of $58.62. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 26.32 and a beta of 1.62.
MSA Safety (NYSE:MSA) last released its earnings results on Wednesday, July 20th. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.06. The company had revenue of $296 million for the quarter, compared to analysts’ expectations of $301.02 million. MSA Safety had a return on equity of 19.19% and a net margin of 6.69%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. Equities analysts predict that MSA Safety Inc. will post $2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Thursday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, August 16th. MSA Safety’s payout ratio is 64.39%.
Several equities research analysts recently weighed in on the stock. Robert W. Baird cut shares of MSA Safety from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $54.00 to $57.00 in a research 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 objective for the company in a research 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 company’s stock. The company presently has an average rating of “Buy” and an average price target of $55.50.
In other news, insider Douglas K. Mcclaine sold 4,731 shares of MSA Safety stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $56.00, for a total transaction of $264,936.00. Following the sale, the insider now directly owns 36,428 shares in the company, valued at approximately $2,039,968. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William M. Lambert sold 19,200 shares of MSA Safety 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 sale, the insider now owns 162,806 shares in the company, valued at $8,959,214.18. The disclosure for this sale can be found here. Insiders own 15.53% of the company’s stock.
About MSA Safety
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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