MSA Safety Incorporated (MSA) Shares Gap Up to $56.90
MSA Safety Incorporated (NYSE:MSA) gapped up prior to trading on Tuesday . The stock had previously closed at $56.66, but opened at $56.90. MSA Safety shares last traded at $57.43, with a volume of 41,180 shares traded.
Several brokerages have weighed in on MSA. Robert W. Baird cut MSA Safety from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $54.00 to $57.00 in a research note on Friday, July 22nd. Stifel Nicolaus raised MSA Safety from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, June 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.50.
The company’s 50-day moving average price is $55.57 and its 200-day moving average price is $49.88. The firm has a market cap of $2.16 billion and a PE ratio of 27.34.
MSA Safety (NYSE:MSA) last posted its earnings results on Wednesday, July 20th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.06. The business had revenue of $296 million for the quarter, compared to analyst estimates of $301.02 million. During the same quarter last year, the business earned $0.67 earnings per share. MSA Safety’s revenue was up 3.1% on a year-over-year basis. Equities analysts forecast that MSA Safety Incorporated will post $2.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 10th. Investors of record on Thursday, August 18th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, August 16th.
In related news, insider Douglas K. Mcclaine sold 4,731 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $56.00, for a total value of $264,936.00. Following the transaction, the insider now directly owns 36,428 shares of the company’s stock, valued at approximately $2,039,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,056,576.00. Following the completion of the transaction, the insider now directly owns 162,806 shares in the company, valued at $8,959,214.18. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of MSA Safety by 0.3% in the fourth quarter. Principal Financial Group Inc. now owns 314,307 shares of the company’s stock worth $13,663,000 after buying an additional 977 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of MSA Safety by 1.7% in the fourth quarter. New York State Common Retirement Fund now owns 61,349 shares of the company’s stock worth $2,667,000 after buying an additional 999 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of MSA Safety by 9.2% in the fourth quarter. First Trust Advisors LP now owns 28,869 shares of the company’s stock worth $1,255,000 after buying an additional 2,438 shares in the last quarter.
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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