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

MSA Safety Incorporporated (NYSE:MSA) saw a large drop in short interest during the month of 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. Currently, 2.4% of the company’s shares are sold short. Based on an average daily volume of 228,146 shares, the days-to-cover ratio is currently 4.1 days. Based on an average daily volume of 228,146 shares, the days-to-cover ratio is currently 4.1 days. Currently, 2.4% of the company’s shares are sold short.

MSA Safety Incorporporated Stock Down 1.4%

NYSE:MSA traded down $2.59 during mid-day trading on Friday, hitting $176.85. The company had a trading volume of 205,275 shares, compared to its average volume of 185,355. The business has a fifty day simple moving average of $186.49 and a 200-day simple moving average of $172.38. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 24.98 and a beta of 0.96. MSA Safety Incorporporated has a 1 year low of $127.86 and a 1 year high of $208.92. 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 earnings results on Wednesday, February 11th. The industrial products company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.12. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The company had revenue of $510.91 million during the quarter, compared to the consensus estimate of $508.62 million. During the same quarter in the prior year, the business earned $2.25 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that MSA Safety Incorporporated will post 8.06 earnings per share for the current fiscal year.

MSA Safety Incorporporated Cuts Dividend

The business 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. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, February 13th. MSA Safety Incorporporated’s dividend payout ratio is currently 29.94%.

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

Insider Buying and Selling at MSA Safety Incorporporated

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its stake in shares of MSA Safety Incorporporated by 700.0% in the third quarter. Brown Brothers Harriman & Co. now owns 144 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 126 shares during the period. eCIO Inc. purchased a new stake in MSA Safety Incorporporated during the 4th quarter worth $27,000. First Horizon Corp acquired a new position in MSA Safety Incorporporated in the 3rd quarter worth $30,000. Penserra Capital Management LLC acquired a new position in MSA Safety Incorporporated in the 2nd quarter worth $33,000. Finally, EverSource Wealth Advisors LLC boosted its position in MSA Safety Incorporporated by 94.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock valued at $33,000 after buying an additional 96 shares during the last quarter. 92.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on MSA shares. National Bank Financial set a $235.00 target price on MSA Safety Incorporporated in a report on Wednesday, February 18th. B. Riley Financial restated a “buy” rating on shares of MSA Safety Incorporporated in a research note on Thursday, February 12th. Wall Street Zen downgraded MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. began coverage on MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $200.00 price objective on the stock. Finally, Weiss Ratings upgraded MSA Safety Incorporporated from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 26th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, MSA Safety Incorporporated presently has an average rating of “Moderate Buy” and a consensus price target of $202.17.

MSA Safety Incorporporated Company Profile

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.