MSA Safety Incorporporated (NYSE:MSA) Sees Significant Decrease in Short Interest

MSA Safety Incorporporated (NYSE:MSA) was the target of a significant drop in short interest in February. As of February 27th, there was short interest totaling 932,674 shares, a drop of 22.4% from the February 12th total of 1,202,000 shares. Based on an average daily trading volume, of 228,146 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.4% of the shares of the stock are sold short. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 228,146 shares, the days-to-cover ratio is currently 4.1 days.

Wall Street Analysts Forecast Growth

MSA has been the subject of a number of research reports. National Bank Financial set a $235.00 target price on shares of MSA Safety Incorporporated in a research report on Wednesday, February 18th. DA Davidson increased their price target on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Wall Street Zen downgraded MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings raised MSA Safety Incorporporated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. Finally, B. Riley Financial reiterated a “buy” rating on shares of MSA Safety Incorporporated in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, MSA Safety Incorporporated presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.17.

MSA Safety Incorporporated Trading Down 1.4%

Shares of MSA Safety Incorporporated stock traded down $2.59 during mid-day trading on Friday, hitting $176.85. 205,275 shares of the stock were exchanged, compared to its average volume of 185,355. MSA Safety Incorporporated has a twelve month low of $127.86 and a twelve month high of $208.92. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 24.98 and a beta of 0.96. The company has a 50-day simple moving average of $186.49 and a 200 day simple moving average of $172.38. The company has a current ratio of 3.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.42.

MSA Safety Incorporporated (NYSE:MSA) last issued its quarterly earnings results on Wednesday, February 11th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.12. The business had revenue of $510.91 million during the quarter, compared to the consensus estimate of $508.62 million. MSA Safety Incorporporated had a net margin of 14.88% and a return on equity of 24.48%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.25 earnings per share. Research analysts forecast that MSA Safety Incorporporated will post 8.06 EPS for the current year.

MSA Safety Incorporporated Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th were issued a $0.53 dividend. The ex-dividend date was Friday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.2%. MSA Safety Incorporporated’s payout ratio is 29.94%.

MSA Safety Incorporporated announced that its Board of Directors has approved a share buyback plan on Thursday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 6.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CAO Jonathan D. Buck sold 1,100 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total value of $223,828.00. Following the sale, the chief accounting officer directly owned 3,234 shares in the company, valued at $658,054.32. The trade was a 25.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Institutional Trading of MSA Safety Incorporporated

A number of hedge funds have recently added to or reduced their stakes in MSA. Brown Brothers Harriman & Co. grew its holdings in MSA Safety Incorporporated by 700.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company’s stock valued at $25,000 after buying an additional 126 shares during the period. eCIO Inc. acquired a new stake in shares of MSA Safety Incorporporated in the fourth quarter worth approximately $27,000. First Horizon Corp acquired a new stake in shares of MSA Safety Incorporporated in the third quarter worth approximately $30,000. Penserra Capital Management LLC purchased a new stake in MSA Safety Incorporporated in the second quarter valued at approximately $33,000. Finally, EverSource Wealth Advisors LLC grew its holdings in MSA Safety Incorporporated by 94.1% in the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 96 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.

About MSA Safety Incorporporated

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.