OppenheimerFunds Inc. increased its stake in MSA Safety Incorporated (NYSE:MSA) by 35.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,790 shares of the industrial products company’s stock after buying an additional 1,243 shares during the period. OppenheimerFunds Inc.’s holdings in MSA Safety were worth $339,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in MSA Safety by 15.7% in the first quarter. Bank of New York Mellon Corp now owns 1,162,950 shares of the industrial products company’s stock worth $82,210,000 after buying an additional 158,052 shares during the last quarter. ProShare Advisors LLC increased its position in shares of MSA Safety by 17.3% in the first quarter. ProShare Advisors LLC now owns 244,887 shares of the industrial products company’s stock valued at $17,311,000 after buying an additional 36,176 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of MSA Safety by 40.5% in the first quarter. Pictet Asset Management Ltd. now owns 243,500 shares of the industrial products company’s stock valued at $17,213,000 after buying an additional 70,200 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of MSA Safety by 202.1% in the first quarter. Nationwide Fund Advisors now owns 214,810 shares of the industrial products company’s stock valued at $15,185,000 after buying an additional 143,714 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MSA Safety during the fourth quarter valued at approximately $14,834,000. Hedge funds and other institutional investors own 65.96% of the company’s stock.
MSA Safety Incorporated (NYSE:MSA) traded up 1.33% during trading on Wednesday, reaching $69.30. 357,213 shares of the company traded hands. MSA Safety Incorporated has a 12-month low of $53.10 and a 12-month high of $84.86. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 34.91 and a beta of 1.62. The firm’s 50 day moving average price is $77.32 and its 200 day moving average price is $74.98.
MSA Safety (NYSE:MSA) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.02. MSA Safety had a return on equity of 19.64% and a net margin of 6.74%. The business had revenue of $288.78 million for the quarter, compared to the consensus estimate of $302.94 million. During the same quarter in the previous year, the company earned $0.79 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that MSA Safety Incorporated will post $3.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Monday, August 14th. MSA Safety’s payout ratio is 71.07%.
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Several brokerages have commented on MSA. Stifel Nicolaus boosted their price objective on shares of MSA Safety from $81.00 to $91.00 and gave the company a “buy” rating in a research report on Monday, May 22nd. Robert W. Baird boosted their target price on shares of MSA Safety from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, June 30th. Zacks Investment Research cut shares of MSA Safety from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. BidaskClub cut shares of MSA Safety from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Finally, Barrington Research boosted their price objective on shares of MSA Safety from $78.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.50.
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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