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MSA Safety Incorporated (NYSE:MSA) Shares Sold by Covington Capital Management

Financial News Live · Sep 17, 2022 09:11

Covington Capital Management trimmed its position in shares of MSA Safety Incorporated (NYSE:MSA – Get Rating) by 51.1% during the second quarter, Holdings Channel reports. The firm owned 15,424 shares of the industrial products company's stock after selling 16,105 shares during the quarter. Covington Capital Management's holdings in MSA Safety were worth $1,867,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. increased its holdings in MSA Safety by 5.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,689 shares of the industrial products company's stock valued at $255,000 after buying an additional 87 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in MSA Safety by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,500 shares of the industrial products company's stock valued at $1,245,000 after buying an additional 100 shares during the last quarter. Profund Advisors LLC boosted its stake in MSA Safety by 5.6% in the first quarter. Profund Advisors LLC now owns 1,931 shares of the industrial products company's stock valued at $256,000 after acquiring an additional 102 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in MSA Safety by 1.1% in the first quarter. Commonwealth Equity Services LLC now owns 10,632 shares of the industrial products company's stock valued at $1,411,000 after acquiring an additional 118 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in MSA Safety by 15.9% in the first quarter. Van ECK Associates Corp now owns 858 shares of the industrial products company's stock valued at $114,000 after acquiring an additional 118 shares in the last quarter. 76.95% of the stock is currently owned by institutional investors and hedge funds.

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MSA Safety Price Performance

Shares of MSA opened at $117.58 on Friday. MSA Safety Incorporated has a fifty-two week low of $112.89 and a fifty-two week high of $157.29. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 115.27 and a beta of 0.91. The firm has a 50-day simple moving average of $124.79 and a 200-day simple moving average of $126.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.50 and a current ratio of 2.51.

MSA Safety (NYSE:MSA – Get Rating) last announced its earnings results on Wednesday, July 27th. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.04. MSA Safety had a net margin of 2.79% and a return on equity of 23.65%. The business had revenue of $372.31 million during the quarter, compared to the consensus estimate of $363.70 million. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that MSA Safety Incorporated will post 5.38 earnings per share for the current year.

MSA Safety Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 1.56%. MSA Safety's dividend payout ratio (DPR) is 180.39%.

Wall Street Analysts Forecast Growth

MSA has been the subject of several research analyst reports. StockNews.com upgraded shares of MSA Safety from a "hold" rating to a "buy" rating in a research note on Tuesday. Stifel Nicolaus upped their price objective on shares of MSA Safety from $149.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday.

Insider Transactions at MSA Safety

In related news, Director William M. Lambert sold 28,767 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $126.11, for a total value of $3,627,806.37. Following the completion of the sale, the director now owns 42,869 shares in the company, valued at $5,406,209.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Robert A. Bruggeworth sold 885 shares of the firm's stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $131.00, for a total value of $115,935.00. Following the completion of the sale, the director now owns 2,423 shares in the company, valued at $317,413. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William M. Lambert sold 28,767 shares of the firm's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $126.11, for a total transaction of $3,627,806.37. Following the completion of the sale, the director now owns 42,869 shares of the company's stock, valued at approximately $5,406,209.59. The disclosure for this sale can be found here. Insiders own 6.29% of the company's stock.

MSA Safety Company Profile

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MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufacturing applications, utilities, military, and mining industries in North America, Latin America, and internationally.