Franklin Resources Inc. Sells 17,858 Shares of MSA Safety Incorporated (NYSE:MSA)

Franklin Resources Inc. lowered its position in shares of MSA Safety Incorporated (NYSE:MSA) by 54.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,777 shares of the industrial products company’s stock after selling 17,858 shares during the period. Franklin Resources Inc.’s holdings in MSA Safety were worth $2,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of MSA Safety by 486.0% during the third quarter. Blue Trust Inc. now owns 252 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 209 shares in the last quarter. Quarry LP grew its holdings in MSA Safety by 690.5% during the 3rd quarter. Quarry LP now owns 751 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 656 shares during the last quarter. Covestor Ltd grew its holdings in MSA Safety by 985.1% during the 3rd quarter. Covestor Ltd now owns 803 shares of the industrial products company’s stock worth $143,000 after acquiring an additional 729 shares during the last quarter. Kowal Investment Group LLC acquired a new position in MSA Safety in the 2nd quarter valued at approximately $204,000. Finally, CIBC Asset Management Inc bought a new position in shares of MSA Safety during the second quarter valued at $206,000. Institutional investors and hedge funds own 92.51% of the company’s stock.

MSA Safety Stock Performance

Shares of MSA Safety stock opened at $168.94 on Thursday. The company has a market cap of $6.64 billion, a P/E ratio of 24.41 and a beta of 0.99. The company has a current ratio of 2.68, a quick ratio of 1.56 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $171.63 and a two-hundred day moving average price of $177.66. MSA Safety Incorporated has a 1-year low of $160.02 and a 1-year high of $200.60.

MSA Safety (NYSE:MSA) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $432.68 million during the quarter, compared to the consensus estimate of $449.95 million. MSA Safety had a return on equity of 29.14% and a net margin of 15.16%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. As a group, analysts anticipate that MSA Safety Incorporated will post 7.66 EPS for the current year.

MSA Safety Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, November 15th. MSA Safety’s dividend payout ratio is presently 29.48%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MSA shares. B. Riley assumed coverage on MSA Safety in a report on Tuesday, November 5th. They issued a “buy” rating and a $200.00 price objective for the company. DA Davidson initiated coverage on MSA Safety in a research report on Thursday, December 19th. They issued a “buy” rating and a $195.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on MSA Safety in a research report on Thursday, December 12th. They set a “hold” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $202.50.

MSA Safety Company Profile

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.