MSA Safety Inc's (NYSE:MSA) CEO and Chairman, Nishan J. Vartanian, has sold 6,055 shares of common stock at a price of $188.0 per share, totaling $1,138,340. The transaction occurred on July 30, as reported in the company's latest SEC filing.
Vartanian's sale of MSA Safety stock is part of his trading activities as the company's CEO. Following this transaction, he still owns 35,898 shares of common stock directly, as per the filing. Additionally, there are 1,190 shares owned indirectly by Vartanian's wife. It is important to note that the total shares owned following the transaction reflects changes in beneficial ownership, including the forfeiture of 14,847 shares on June 11, 2024, due to Vartanian's retirement and in line with the company's retirement policy related to stock awards.
MSA Safety Inc., headquartered in Cranberry Township, Pennsylvania, is known for its production of safety equipment and systems. The company's common stock is traded on the New York Stock Exchange under the ticker symbol MSA.
The sale was signed off by Richard W. Roda, Attorney in Fact, on July 31, the day after the reported transaction. Investors and followers of MSA Safety Inc. can stay updated on further insider transactions through the company's filings and public disclosures.
In other recent news, MSA Safety Incorporated reported a steady growth in Q2 2024, with a 3% increase in net sales and 4% organic constant-currency sales growth. The company has also shown progress in optimizing their manufacturing footprint and reducing backlog to normalized levels. MSA Safety's free cash flow stood at $39 million, with a conversion rate of 49% of adjusted earnings, and the company paid $20 million in dividends, repurchased $10 million in common stock, and repaid $8 million in debt. Adjusted EBITDA reached $466 million, representing 25.7% of net sales. Despite a slight decline in Industrial PPE sales, the company saw an increase in sales in fire service and detection categories. Amid ongoing supply chain challenges, MSA Safety reaffirmed its full-year 2024 outlook, maintaining expectations of mid-single-digit sales growth. These recent developments indicate MSA Safety's continued focus on sustainable business practices and profitable growth.
InvestingPro Insights
Amidst the news of CEO Nishan J. Vartanian's recent sale of MSA Safety Inc. (NYSE:MSA) shares, investors may be curious about the current financial health and market sentiment towards the company. Recent data from InvestingPro provides a snapshot of MSA's market performance and analyst expectations.
With a market capitalization of $7.45 billion and a Price/Earnings (P/E) ratio of 27.22, MSA Safety stands as a notable player in its industry. The company has shown an ability to grow, reflected in an 8.82% increase in revenue over the last twelve months as of Q2 2024. This growth is further underscored by a gross profit margin of 48.16%, indicating a strong ability to control costs relative to revenue.
InvestingPro Tips reveal that MSA Safety has been consistent in rewarding its shareholders, having raised its dividend for 10 consecutive years and maintaining dividend payments for an impressive 52 years. This consistency is a testament to the company's financial stability and commitment to shareholder returns. Additionally, MSA's net income is expected to grow this year, which could be a positive sign for potential investors.
For those interested in more in-depth analysis, InvestingPro offers a broader range of tips, with 12 additional insights available for MSA Safety Inc. These tips, including metrics on debt levels, profitability, and stock volatility, can provide a more comprehensive understanding of the company's financial position and future prospects. Visit the InvestingPro platform for these additional insights and to see a fair value estimation based on analyst targets and InvestingPro's own fair value assessment.
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