Corebridge Financial Inc. Cuts Stake in MSA Safety Incorporated (NYSE:MSA)

Corebridge Financial Inc. lessened its stake in MSA Safety Incorporated (NYSE:MSA) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,464 shares of the industrial products company’s stock after selling 2,055 shares during the quarter. Corebridge Financial Inc. owned 0.11% of MSA Safety worth $7,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MSA. UMB Bank n.a. raised its holdings in MSA Safety by 78.4% in the fourth quarter. UMB Bank n.a. now owns 182 shares of the industrial products company’s stock worth $30,000 after buying an additional 80 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of MSA Safety by 120.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 225 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 123 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in MSA Safety by 97.6% in the 4th quarter. JFS Wealth Advisors LLC now owns 251 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 124 shares during the last quarter. First Horizon Advisors Inc. lifted its position in MSA Safety by 81.3% in the 4th quarter. First Horizon Advisors Inc. now owns 330 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 148 shares in the last quarter. Finally, Hilltop National Bank boosted its stake in MSA Safety by 23.5% during the 4th quarter. Hilltop National Bank now owns 520 shares of the industrial products company’s stock valued at $86,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 92.51% of the company’s stock.

MSA Safety Stock Down 2.5 %

MSA Safety stock opened at $148.07 on Friday. The stock has a market cap of $5.81 billion, a PE ratio of 20.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.76 and a current ratio of 2.79. The stock has a fifty day moving average of $159.17 and a 200 day moving average of $167.06. MSA Safety Incorporated has a one year low of $147.77 and a one year high of $200.61.

MSA Safety (NYSE:MSA) last issued its quarterly earnings data on Wednesday, February 12th. The industrial products company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.02. MSA Safety had a net margin of 15.76% and a return on equity of 28.64%. As a group, sell-side analysts predict that MSA Safety Incorporated will post 8.06 EPS for the current year.

MSA Safety Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, February 14th. MSA Safety’s dividend payout ratio is presently 28.29%.

Insider Activity

In related news, CAO Jonathan D. Buck sold 717 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $159.00, for a total transaction of $114,003.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,673 shares in the company, valued at approximately $584,007. The trade was a 16.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MSA. DA Davidson began coverage on MSA Safety in a report on Thursday, December 19th. They set a “buy” rating and a $195.00 price target on the stock. Robert W. Baird decreased their target price on MSA Safety from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group began coverage on shares of MSA Safety in a report on Thursday, December 12th. They set a “hold” rating and a $200.00 price target on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $197.00.

MSA Safety Profile

MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures in the fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries worldwide.