Retirement Systems of Alabama lifted its holdings in shares of MSA Safety Inc (NYSE:MSA) by 107.4% in the first quarter, HoldingsChannel.com reports. The firm owned 94,103 shares of the industrial products company’s stock after acquiring an additional 48,721 shares during the quarter. Retirement Systems of Alabama’s holdings in MSA Safety were worth $9,730,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of MSA Safety during the 4th quarter worth $28,000. Ffcm LLC grew its holdings in shares of MSA Safety by 329.5% during the 4th quarter. Ffcm LLC now owns 378 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 290 shares during the period. Simplex Trading LLC purchased a new position in shares of MSA Safety during the 4th quarter worth $84,000. Covington Capital Management purchased a new position in shares of MSA Safety during the 4th quarter worth $154,000. Finally, Berman Capital Advisors LLC purchased a new position in shares of MSA Safety during the 4th quarter worth $168,000. Institutional investors and hedge funds own 73.54% of the company’s stock.
In related news, insider William M. Lambert sold 24,592 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $103.50, for a total transaction of $2,545,272.00. Following the transaction, the insider now owns 56,734 shares of the company’s stock, valued at approximately $5,871,969. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director L Edward Shaw, Jr. sold 50,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $104.02, for a total value of $5,201,000.00. Following the transaction, the director now directly owns 467,238 shares in the company, valued at approximately $48,602,096.76. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.
MSA Safety (NYSE:MSA) last posted its earnings results on Thursday, February 21st. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.01. MSA Safety had a return on equity of 27.35% and a net margin of 9.14%. The firm had revenue of $361.78 million for the quarter, compared to analyst estimates of $359.32 million. During the same quarter in the prior year, the company earned $1.31 EPS. MSA Safety’s revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that MSA Safety Inc will post 4.81 earnings per share for the current year.
MSA has been the subject of a number of research analyst reports. Zacks Investment Research upgraded MSA Safety from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Robert W. Baird reiterated a “hold” rating and set a $105.00 price target on shares of MSA Safety in a report on Friday, February 22nd. ValuEngine cut MSA Safety from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, William Blair began coverage on MSA Safety in a report on Thursday, January 10th. They set a “market perform” rating and a $98.30 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $106.10.
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MSA Safety Company Profile
MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. It operates through Americas and International segments. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air.
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