Principal Financial Group Inc. raised its stake in MSA Safety Inc. (NYSE:MSA) by 28.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 423,118 shares of the company’s stock after buying an additional 92,543 shares during the period. Principal Financial Group Inc. owned 1.13% of MSA Safety worth $22,227,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fairview Capital Investment Management LLC boosted its position in shares of MSA Safety by 7.6% in the second quarter. Fairview Capital Investment Management LLC now owns 120,386 shares of the company’s stock valued at $6,324,000 after buying an additional 8,550 shares in the last quarter. Prudential Financial Inc. boosted its position in MSA Safety by 2.5% in the second quarter. Prudential Financial Inc. now owns 20,872 shares of the company’s stock worth $1,096,000 after buying an additional 500 shares during the period. Dimensional Fund Advisors LP boosted its position in MSA Safety by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 843,050 shares of the company’s stock worth $44,283,000 after buying an additional 25,208 shares during the period. Teacher Retirement System of Texas boosted its position in MSA Safety by 14.1% in the second quarter. Teacher Retirement System of Texas now owns 4,435 shares of the company’s stock worth $233,000 after buying an additional 547 shares during the period. Finally, Edge Asset Management Inc. boosted its position in MSA Safety by 30.1% in the second quarter. Edge Asset Management Inc. now owns 531,757 shares of the company’s stock worth $27,933,000 after buying an additional 123,138 shares during the period. Institutional investors and hedge funds own 60.18% of the company’s stock.
Shares of MSA Safety Inc. (NYSE:MSA) traded up 0.78% during mid-day trading on Friday, reaching $56.70. 11,596 shares of the company’s stock traded hands. The company’s 50 day moving average is $56.36 and its 200 day moving average is $52.22. The company has a market cap of $2.13 billion, a P/E ratio of 26.92 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 results on Wednesday, July 20th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.06. The firm had revenue of $296 million for the quarter, compared to the consensus estimate of $301.02 million. MSA Safety had a net margin of 6.69% and a return on equity of 19.19%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 earnings per share. On average, analysts predict that MSA Safety Inc. will post $2.76 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Thursday, August 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Tuesday, August 16th. MSA Safety’s dividend payout ratio is currently 64.39%.
A number of research firms recently weighed in on MSA. Robert W. Baird cut shares of MSA Safety from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $54.00 to $57.00 in a research note on Friday, July 22nd. Stifel Nicolaus upgraded shares of MSA Safety from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $55.50.
In other news, insider William M. Lambert sold 19,200 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $55.03, for a total value of $1,056,576.00. Following the transaction, the insider now directly owns 162,806 shares of the company’s stock, valued at $8,959,214.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas K. Mcclaine sold 4,731 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $56.00, for a total transaction of $264,936.00. Following the completion of the transaction, the insider now directly owns 36,428 shares in the company, valued at $2,039,968. The disclosure for this sale can be found here. 15.53% of the stock is currently owned by 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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