Caisse DE Depot ET Placement DU Quebec Invests $3.85 Million in MSA Safety Inc (MSA)
Caisse DE Depot ET Placement DU Quebec purchased a new position in MSA Safety Inc (NYSE:MSA) in the second quarter, Holdings Channel reports. The firm purchased 40,000 shares of the industrial products company’s stock, valued at approximately $3,854,000.
Other hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its stake in shares of MSA Safety by 252.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,200 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 860 shares during the period. Vigilant Capital Management LLC grew its stake in shares of MSA Safety by 100.0% in the second quarter. Vigilant Capital Management LLC now owns 1,680 shares of the industrial products company’s stock worth $162,000 after acquiring an additional 840 shares during the period. Diversified Trust Co bought a new stake in shares of MSA Safety in the second quarter worth approximately $226,000. Janney Montgomery Scott LLC bought a new stake in shares of MSA Safety in the second quarter worth approximately $226,000. Finally, Bayesian Capital Management LP bought a new stake in shares of MSA Safety in the first quarter worth approximately $235,000. Hedge funds and other institutional investors own 71.23% of the company’s stock.
Shares of MSA stock opened at $103.62 on Wednesday. MSA Safety Inc has a 52 week low of $70.28 and a 52 week high of $104.30. The company has a market capitalization of $3.96 billion, a PE ratio of 26.78 and a beta of 1.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.15 and a quick ratio of 1.53.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 20th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Friday, August 17th. MSA Safety’s payout ratio is 39.28%.
MSA has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their price target on shares of MSA Safety from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Zacks Investment Research lowered shares of MSA Safety from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Finally, ValuEngine upgraded shares of MSA Safety from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. MSA Safety currently has an average rating of “Buy” and a consensus target price of $100.00.
In related news, Chairman William M. Lambert sold 63,382 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $94.88, for a total value of $6,013,684.16. Following the transaction, the chairman now owns 148,921 shares of the company’s stock, valued at $14,129,624.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William M. Lambert sold 96,464 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $94.89, for a total transaction of $9,153,468.96. Following the completion of the transaction, the insider now directly owns 148,921 shares in the company, valued at approximately $14,131,113.69. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.
About MSA Safety
MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. It operates through Americas and International segments. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air.
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