MSA Safety Incorporporated (MSA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of MSA Safety Incorporporated (NYSE:MSA) from a hold rating to a sell rating in a research report released on Thursday morning.

According to Zacks, “MSA Safety Inc. is engaged in the development, manufacture and supply of safety products that protect people and facility infrastructures. The company’s core product lines include self-contained breathing apparatus, fixed gas and flame detection systems, handheld gas detection instruments, industrial and fire service head protection products and fall protection devices. It serves a broad range of industries, including the oil, gas and petrochemical industry, the fire service, construction, mining and general industry. MSA Safety Inc., formerly known as Mine Safety Appliances Company, is headquartered in Cranberry Township, Pennsylvania. “

MSA has been the topic of a number of other research reports. BidaskClub lowered MSA Safety Incorporporated from a buy rating to a hold rating in a research report on Friday, June 23rd. Robert W. Baird lifted their target price on MSA Safety Incorporporated from $82.00 to $84.00 and gave the company an outperform rating in a research report on Friday, June 30th. Finally, Stifel Nicolaus reissued a buy rating and issued a $91.00 target price on shares of MSA Safety Incorporporated in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $86.33.

MSA Safety Incorporporated (NYSE MSA) traded up 0.78% during mid-day trading on Thursday, reaching $77.90. The company’s stock had a trading volume of 265,908 shares. The stock’s 50 day moving average is $73.86 and its 200 day moving average is $75.78. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 39.24 and a beta of 1.64. MSA Safety Incorporporated has a 12 month low of $55.00 and a 12 month high of $84.86.

MSA Safety Incorporporated (NYSE:MSA) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.02). The business had revenue of $288.78 million for the quarter, compared to analyst estimates of $302.94 million. MSA Safety Incorporporated had a return on equity of 19.64% and a net margin of 6.74%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts predict that MSA Safety Incorporporated will post $3.19 EPS for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Sunday, September 10th. Stockholders of record on Wednesday, August 16th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, August 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. MSA Safety Incorporporated’s dividend payout ratio is currently 71.07%.

In related news, Director John T. Ryan III sold 32,100 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $71.43, for a total value of $2,292,903.00. Following the completion of the sale, the director now directly owns 1,025,013 shares in the company, valued at approximately $73,216,678.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Markus H. Weber sold 2,300 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $71.08, for a total value of $163,484.00. Following the completion of the sale, the vice president now owns 13,801 shares of the company’s stock, valued at $980,975.08. The disclosure for this sale can be found here. Insiders have sold a total of 40,211 shares of company stock valued at $2,879,428 over the last quarter. 15.53% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in MSA Safety Incorporporated by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,596 shares of the industrial products company’s stock valued at $373,000 after purchasing an additional 18 shares during the period. Capstone Asset Management Co. boosted its stake in MSA Safety Incorporporated by 0.7% in the 2nd quarter. Capstone Asset Management Co. now owns 2,863 shares of the industrial products company’s stock valued at $232,000 after purchasing an additional 20 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in MSA Safety Incorporporated by 0.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 5,401 shares of the industrial products company’s stock valued at $382,000 after purchasing an additional 24 shares during the period. Jennison Associates LLC boosted its stake in MSA Safety Incorporporated by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 8,538 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 26 shares during the period. Finally, Royal Bank of Canada boosted its stake in MSA Safety Incorporporated by 3.3% in the 2nd quarter. Royal Bank of Canada now owns 1,643 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 66.74% of the company’s stock.

MSA Safety Incorporporated 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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