Comerica Bank Has $6.77 Million Position in MSA Safety Inc (MSA)
Comerica Bank increased its stake in shares of MSA Safety Inc (NYSE:MSA) by 160.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 69,165 shares of the industrial products company’s stock after purchasing an additional 42,638 shares during the quarter. Comerica Bank’s holdings in MSA Safety were worth $6,771,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Wedge Capital Management L L P NC acquired a new stake in MSA Safety during the second quarter worth about $22,607,000. Janney Montgomery Scott LLC acquired a new stake in MSA Safety during the second quarter worth about $226,000. BerganKDV Wealth Management LLC acquired a new stake in MSA Safety during the second quarter worth about $187,000. Diversified Trust Co acquired a new stake in MSA Safety during the second quarter worth about $226,000. Finally, James Investment Research Inc. acquired a new stake in MSA Safety during the second quarter worth about $2,333,000. 69.66% of the stock is currently owned by hedge funds and other institutional investors.
MSA Safety opened at $100.17 on Friday, Marketbeat.com reports. The stock has a market cap of $3.80 billion, a P/E ratio of 26.10 and a beta of 1.38. MSA Safety Inc has a 52 week low of $65.95 and a 52 week high of $101.82. The company has a current ratio of 2.15, a quick ratio of 1.53 and a debt-to-equity ratio of 0.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 20th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, August 17th. MSA Safety’s payout ratio is currently 39.28%.
In other MSA Safety news, CFO Kenneth D. Krause sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $92.00, for a total value of $115,000.00. Following the sale, the chief financial officer now directly owns 20,920 shares of the company’s stock, valued at $1,924,640. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Steven C. Sr. Blanco sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $90.36, for a total value of $153,612.00. Following the completion of the sale, the vice president now directly owns 13,462 shares in the company, valued at $1,216,426.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 179,730 shares of company stock worth $17,000,491. 9.90% of the stock is owned by corporate insiders.
MSA has been the topic of several analyst reports. Zacks Investment Research lowered MSA Safety from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 27th. Stifel Nicolaus raised their target price on MSA Safety from $91.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 25th. Barrington Research reaffirmed a “hold” rating on shares of MSA Safety in a report on Friday, April 27th. ValuEngine raised MSA Safety from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Finally, Robert W. Baird raised their target price on MSA Safety from $98.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. MSA Safety currently has an average rating of “Hold” and an average target price of $100.00.
About MSA Safety
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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