Ruane Cunniff & Goldfarb L.P. lowered its position in shares of MSA Safety Incorporporated (NYSE:MSA – Free Report) by 2.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,776,282 shares of the industrial products company’s stock after selling 35,353 shares during the period. MSA Safety Incorporporated makes up approximately 4.8% of Ruane Cunniff & Goldfarb L.P.’s portfolio, making the stock its 9th largest position. Ruane Cunniff & Goldfarb L.P. owned about 4.60% of MSA Safety Incorporporated worth $291,221,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Madison Asset Management LLC purchased a new position in MSA Safety Incorporporated in the fourth quarter worth approximately $90,999,000. Norges Bank acquired a new position in shares of MSA Safety Incorporporated in the 4th quarter valued at $66,878,000. Natixis Advisors LLC lifted its stake in shares of MSA Safety Incorporporated by 1,447.3% in the 4th quarter. Natixis Advisors LLC now owns 363,177 shares of the industrial products company’s stock valued at $58,159,000 after purchasing an additional 339,705 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of MSA Safety Incorporporated by 233.9% during the 4th quarter. Franklin Resources Inc. now owns 452,505 shares of the industrial products company’s stock worth $72,464,000 after purchasing an additional 316,975 shares during the period. Finally, Sei Investments Co. grew its holdings in shares of MSA Safety Incorporporated by 193.0% during the 2nd quarter. Sei Investments Co. now owns 236,729 shares of the industrial products company’s stock worth $39,660,000 after purchasing an additional 155,927 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.
Insider Transactions at MSA Safety Incorporporated
In other MSA Safety Incorporporated news, CFO Julie A. Beck purchased 448 shares of MSA Safety Incorporporated stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $158.69 per share, with a total value of $71,093.12. Following the completion of the transaction, the chief financial officer owned 3,825 shares of the company’s stock, valued at $606,989.25. This trade represents a 13.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
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MSA Safety Incorporporated Trading Up 0.5%
MSA opened at $175.44 on Tuesday. MSA Safety Incorporporated has a 52 week low of $151.10 and a 52 week high of $208.92. The company has a quick ratio of 1.92, a current ratio of 3.17 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $167.48 and a 200-day simple moving average of $174.94. The firm has a market cap of $6.77 billion, a P/E ratio of 23.71 and a beta of 0.95.
MSA Safety Incorporporated (NYSE:MSA – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. MSA Safety Incorporporated had a return on equity of 24.54% and a net margin of 15.16%.The firm had revenue of $463.63 million for the quarter, compared to the consensus estimate of $451.28 million. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that MSA Safety Incorporporated will post 8.86 earnings per share for the current year.
MSA Safety Incorporporated Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.2%. This is a boost from MSA Safety Incorporporated’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 15th. MSA Safety Incorporporated’s payout ratio is currently 29.19%.
MSA Safety Incorporporated Profile
MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.
Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.
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