MSA Safety Inc (NYSE:MSA) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 1,490,000 shares, a decrease of 6.3% from the January 15th total of 1,590,000 shares. Currently, 4.2% of the company’s stock are short sold. Based on an average daily volume of 158,700 shares, the short-interest ratio is presently 9.4 days.
In other MSA Safety news, VP Douglas K. Mcclaine sold 8,500 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $126.43, for a total value of $1,074,655.00. Following the transaction, the vice president now directly owns 16,553 shares of the company’s stock, valued at approximately $2,092,795.79. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.12% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MSA. First Trust Advisors LP grew its holdings in MSA Safety by 16.6% in the first quarter. First Trust Advisors LP now owns 49,793 shares of the industrial products company’s stock valued at $5,149,000 after purchasing an additional 7,097 shares during the period. Royal Bank of Canada boosted its holdings in shares of MSA Safety by 30.6% in the 2nd quarter. Royal Bank of Canada now owns 13,530 shares of the industrial products company’s stock valued at $1,426,000 after purchasing an additional 3,174 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of MSA Safety by 0.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 11,041 shares of the industrial products company’s stock valued at $1,205,000 after buying an additional 97 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MSA Safety by 8.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,260 shares of the industrial products company’s stock valued at $247,000 after buying an additional 182 shares during the period. Finally, Brinker Capital Inc. increased its holdings in shares of MSA Safety by 9.0% during the 3rd quarter. Brinker Capital Inc. now owns 3,426 shares of the industrial products company’s stock worth $374,000 after buying an additional 284 shares during the last quarter. Institutional investors own 75.76% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 12th will be given a $0.42 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.19%.
Several analysts have commented on the stock. Sidoti boosted their target price on shares of MSA Safety from $109.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Zacks Investment Research downgraded shares of MSA Safety from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.
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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