Bank of Nova Scotia Purchases Shares of 2,354 MSA Safety Incorporated (NYSE:MSA)

Bank of Nova Scotia acquired a new position in MSA Safety Incorporated (NYSE:MSAFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,354 shares of the industrial products company’s stock, valued at approximately $397,000.

Several other large investors have also recently modified their holdings of MSA. Contravisory Investment Management Inc. purchased a new position in MSA Safety in the 4th quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new stake in MSA Safety during the 4th quarter valued at $26,000. Quadrant Capital Group LLC boosted its position in MSA Safety by 51.2% during the 4th quarter. Quadrant Capital Group LLC now owns 183 shares of the industrial products company’s stock valued at $31,000 after buying an additional 62 shares during the period. Global Retirement Partners LLC bought a new stake in MSA Safety in the 4th quarter worth $46,000. Finally, Fifth Third Bancorp increased its position in shares of MSA Safety by 28.2% in the fourth quarter. Fifth Third Bancorp now owns 336 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised MSA Safety from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.50.

Read Our Latest Analysis on MSA Safety

MSA Safety Stock Performance

NYSE:MSA opened at $171.23 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.51 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $186.79 and its 200 day simple moving average is $178.36. The stock has a market cap of $6.74 billion, a P/E ratio of 25.37 and a beta of 0.99. MSA Safety Incorporated has a twelve month low of $146.65 and a twelve month high of $196.02.

MSA Safety (NYSE:MSAGet Free Report) last announced its earnings results on Monday, April 29th. The industrial products company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.14. MSA Safety had a net margin of 14.81% and a return on equity of 31.51%. The firm had revenue of $413.00 million for the quarter, compared to analyst estimates of $428.38 million. During the same quarter in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts predict that MSA Safety Incorporated will post 7.75 EPS for the current year.

MSA Safety Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $0.51 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.04 annualized dividend and a dividend yield of 1.19%. This is a positive change from MSA Safety’s previous quarterly dividend of $0.47. MSA Safety’s dividend payout ratio is currently 30.22%.

Insider Activity

In related news, CEO Nishan J. Vartanian sold 4,099 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $185.75, for a total value of $761,389.25. Following the sale, the chief executive officer now directly owns 67,800 shares of the company’s stock, valued at $12,593,850. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Nishan J. Vartanian sold 11,000 shares of MSA Safety stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $185.29, for a total transaction of $2,038,190.00. Following the completion of the transaction, the chief executive officer now directly owns 56,800 shares in the company, valued at $10,524,472. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nishan J. Vartanian sold 4,099 shares of MSA Safety stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $185.75, for a total value of $761,389.25. Following the transaction, the chief executive officer now owns 67,800 shares of the company’s stock, valued at approximately $12,593,850. The disclosure for this sale can be found here. Insiders sold a total of 15,404 shares of company stock worth $2,856,157 in the last quarter. 6.20% of the stock is owned by company insiders.

About MSA Safety

(Free Report)

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.

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Institutional Ownership by Quarter for MSA Safety (NYSE:MSA)

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