Citigroup Inc. Has $8.05 Million Stock Position in MSA Safety Incorporporated $MSA

Citigroup Inc. lifted its stake in MSA Safety Incorporporated (NYSE:MSA) by 123.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,775 shares of the industrial products company’s stock after buying an additional 25,856 shares during the period. Citigroup Inc. owned about 0.12% of MSA Safety Incorporporated worth $8,049,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MSA. First Horizon Corp bought a new position in MSA Safety Incorporporated during the 3rd quarter valued at about $30,000. Penserra Capital Management LLC bought a new position in shares of MSA Safety Incorporporated in the second quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 worth $33,000 after acquiring an additional 96 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in MSA Safety Incorporporated by 397.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 219 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 175 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in MSA Safety Incorporporated by 34.8% during the 2nd quarter. Allworth Financial LP now owns 298 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 92.51% of the company’s stock.

Insider Buying and Selling

In other MSA Safety Incorporporated news, CAO Jonathan D. Buck sold 1,100 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 3,234 shares in the company, valued at approximately $658,054.32. This trade represents a 25.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

MSA Safety Incorporporated Price Performance

Shares of MSA stock opened at $195.69 on Monday. The company has a quick ratio of 1.82, a current ratio of 3.01 and a debt-to-equity ratio of 0.42. MSA Safety Incorporporated has a 12-month low of $127.86 and a 12-month high of $208.92. The firm has a fifty day moving average of $181.60 and a 200-day moving average of $171.34. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 27.64 and a beta of 0.96.

MSA Safety Incorporporated (NYSE:MSA) last posted 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 firm had revenue of $510.91 million for the quarter, compared to analyst estimates of $508.62 million. During the same period in the previous year, the company posted $2.25 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that MSA Safety Incorporporated will post 8.06 earnings per share for the current year.

MSA Safety Incorporporated announced that its Board of Directors has approved a share repurchase program on Thursday, February 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

MSA Safety Incorporporated Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be given a $0.53 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. MSA Safety Incorporporated’s payout ratio is currently 29.94%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. DA Davidson raised their price target on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. assumed coverage on MSA Safety Incorporporated in a research note on Tuesday, February 3rd. They issued a “neutral” rating and a $200.00 target price for the company. Weiss Ratings raised MSA Safety Incorporporated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. B. Riley Financial reiterated a “buy” rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Finally, National Bank Financial set a $235.00 price objective on MSA Safety Incorporporated in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, MSA Safety Incorporporated currently has an average rating of “Moderate Buy” and an average target price 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.