On Feb. 4, Madison Asset Management, LLC disclosed a new position in MSA Safety (NYSE:MSA), acquiring 568,244 shares. Its quarter-end position was valued at approximately $91 million. The position represents 1% of the 13F reportable assets under management (AUM) Its outside the fund's top five holdings What else to know Top holdings after the filing: NASDAQ:ACGL: $415,566,746 (4.8% of AUM) NASDAQ:ROST: $271,540,765 (3.1% of AUM) NASDAQ:PCAR: $249,949,983 (2.9% of AUM) NASDAQ:GOOGL: $241 ...

MEDELLÃ N, Colombia--(BUSINESS WIRE)--Mineros S.A. (TSX:MSA, OTCQX:MNSAF, BVC:MINEROS) ("Mineros†or the "Company) announces that its Board of Directors has initiated a formal evaluation of a potential corporate re-domiciliation or related reorganization involving the Company's jurisdiction of incorporation. • Record Date: March 11, 2026 • Purpose: To consider and, if deemed advisable, approve a special resolution authorizing a proposed merger agreement that could give effect to a potential re-domiciliation ...

PITTSBURGH, Jan. 29, 2026 /PRNewswire/ -- MSA Safety Incorporated (NYSE: MSA), a global leader in the development of advanced safety products and solutions that protect people and facility infrastructures, today announced that it will host the company's fourth quarter and full-year 2025 earnings conference call on Thursday, February 12, 2026, at 10:00 a.m. Eastern Time. The call and accompanying slide presentation will be webcast at http://investors.msasafety.com/ under the "News and Events" tab, subheadin ...

Core Insights - The AHR Expo, one of the largest HVAC-R events globally, will take place from February 2nd to 4th in Las Vegas, attracting over 50,000 industry experts and professionals to discuss emerging trends and technologies in the HVAC-R sector [1]. Company Overview - MSA Safety, a leader in advanced safety products and technologies, reported projected revenues of $1.8 billion for 2024 and has been innovating in safety since 1914, serving diverse end markets and creating sustainable value for shareholders [3]. Product Offerings - MSA Safety will showcase its comprehensive refrigerant management solutions, including the new Bacharach X30 and X50 monitors, designed for easy installation and compliance across various HVAC-R applications [5]. - The MSA Bacharach Multi-Zone Gas Monitor and Chillgard 5000 Refrigerant Leak Monitor can monitor up to 16 zones for over 60 refrigerants, detecting leaks as low as 1 ppm, which is considered very early detection [5]. - Parasense Refrigerant Tracking & Compliance Software provides tools for refrigerant management, helping users meet compliance and reporting requirements while reducing maintenance costs [5]. - FieldServer Protocol Gateways facilitate secure connections with detection devices, supporting over 140 protocols and enhancing data communication between HVAC-R products and cloud networks [5].

Core Insights - Pullen Investment Management has acquired a new stake in MSA Safety, purchasing 16,026 shares valued at approximately $2.57 million during Q4 2025, reflecting a strategic investment in the company [2] - MSA Safety's stock price has increased by 10.43% over the past year, currently priced at $184.16, although it has underperformed the S&P 500 by 4 percentage points [3] Company Overview - MSA Safety is a global leader in advanced safety products for industrial and emergency applications, with a revenue of $1.86 billion and a net income of $279.94 million [4][5] - The company offers a wide range of safety products, including gas detection instruments, portable gas detectors, breathing apparatus, and fall protection equipment, serving various sectors such as industrial, fire service, construction, and military [7] Financial Metrics - MSA Safety has a dividend yield of 1.15%, with a history of increasing dividend payments for 54 consecutive years, and a 5.7% growth in dividend payments over the last decade [4][10] - The company currently utilizes only 29% of its earnings to fund its dividend, indicating potential for larger increases in the future as margins improve [10] Investment Perspective - The recent acquisition by Pullen suggests confidence in MSA Safety's stock, which is viewed as an attractive investment opportunity at 21 times forward earnings, especially for those seeking stability in their portfolio [6][10] - MSA Safety's shift towards technology-driven solutions, such as data insights and the FireGrid Platform, is expected to enhance margins and support organic sales growth of 4% in the long term [9]

Core Viewpoint - MSA Safety has demonstrated a strong commitment to maintaining its dividend, even during challenging cash flow conditions, indicating resilience and potential for future growth [2][5][6]. Dividend Performance - MSA Safety pays an annual dividend of $2.08 per share, yielding 1.28% [2]. - The company has delivered 53 consecutive quarterly payments, with the most recent increase being 3.9% in Q2 2025 [2]. - The 5-year growth rate of the dividend stands at 4.2% CAGR [2]. Payout Ratios - The earnings payout ratio is 29.3%, indicating that 71% of profits are retained for reinvestment or debt reduction [3]. - In 2024, the free cash flow (FCF) payout ratio was 32.5%, while in 2023, it spiked to 147% due to cash flow challenges [4][5]. Cash Flow Analysis - In 2024, MSA generated $296.4 million in operating cash flow and $242.2 million in free cash flow, with dividend payments totaling $78.8 million [4]. - In 2023, operating cash flow dropped to $92.9 million, leading to a free cash flow of $50.1 million, which was insufficient to cover dividend payments [5]. Balance Sheet Strength - MSA has a total debt of $674 million against $1.30 billion in shareholders' equity, resulting in a debt-to-equity ratio of 0.52x [8]. - The net debt stands at approximately $504 million, with a net debt-to-EBITDA ratio of around 1.0x, indicating a conservative financial position [8].

Core Viewpoint - MSA Safety has maintained a consistent dividend payment history, with a current annual dividend of $2.08 per share, yielding 1.28%, and has paid dividends for 53 consecutive quarters, raising questions about its sustainability moving forward [1][12]. Financial Metrics - The earnings payout ratio stands at 29.3%, indicating that MSA retains approximately 71% of its profits for reinvestment and growth [2]. - In 2024, MSA generated $296.4 million in operating cash flow, resulting in a free cash flow (FCF) of $242.2 million, with a FCF payout ratio of 32.5% [3]. - However, in 2023, operating cash flow dropped to $92.9 million due to inventory build, leading to a FCF of $50.1 million and a FCF payout ratio of 147%, indicating that dividends exceeded free cash flow generation [4]. Yearly Comparison - The earnings payout ratio for 2024 is projected at 26.0%, compared to 26.7% in 2023, reflecting a healthy trend [5]. - The FCF payout ratio for 2024 is 32.5%, a significant improvement from the 146.7% in 2023, which is considered an outlier [5]. - Operating cash flow coverage improved to 3.8x in 2024 from 1.3x in 2023, indicating a strong recovery [5]. Dividend Growth and Stability - MSA has consistently raised its dividend since at least 2015, with a compound annual growth rate of 5.1%, growing from $1.27 in 2015 to $2.10 in 2025 [11]. - The company has never cut its dividend, maintaining payments even during cash flow challenges in 2023, demonstrating a commitment to dividend stability [12]. Balance Sheet Strength - MSA has a total debt of $674 million against $1.30 billion in shareholders' equity, resulting in a debt-to-equity ratio of 0.52x, indicating a conservative financial structure [9]. - With $170 million in cash, the net debt is approximately $504 million, leading to a net debt-to-EBITDA ratio of about 1.0x, which is considered manageable [9]. - Interest coverage is robust, with EBIT of $100.9 million covering interest expenses 12 times over, ensuring that debt service does not threaten dividend payments [10]. Conclusion on Dividend Safety - MSA's dividend is rated as safe, supported by an earnings payout ratio under 30%, a recovery in free cash flow, and a clean balance sheet [13]. - The company is positioned as a reliable option for income investors seeking consistent dividends from a stable industrial company, despite the relatively low yield of 1.28% [14].

Core Insights - SmartStop Self Storage REIT, Inc. has acquired a self-storage facility in Winter Garden, Florida, expanding its presence in the Orlando market [1][3] - The facility features approximately 72,100 net rentable square feet and 515 storage units, including climate-controlled and non-climate-controlled options [1] - The acquisition aligns with SmartStop's growth strategy, targeting high-growth areas with strong demographics and significant residential expansion [4] Acquisition Details - The newly acquired facility is located 15 miles west of downtown Orlando, benefiting from high visibility with around 7,900 vehicles passing daily [2] - The surrounding area has a strong median household income and is projected to experience an 8.4% population growth over the next five years [2] - A nearby residential development is expected to add over 42,000 new housing units, further enhancing the market potential [2] Strategic Importance - This acquisition marks SmartStop's fifth location in the Orlando market, reinforcing its footprint in central Florida [3] - The facility will serve several neighborhoods, including Hamlin, Independence, and Horizon West, which are experiencing rapid growth [3] - The President and Chief Investment Officer of SmartStop emphasized the long-term value of the property due to its demographics and ongoing residential expansion [4] Company Overview - SmartStop Self Storage REIT, Inc. is a self-managed real estate investment trust with over 1,000 self-storage professionals [4] - As of November 26, 2025, SmartStop has a portfolio of more than 460 operating properties across 34 states, Washington D.C., and Canada, totaling over 270,000 units and 35 million rentable square feet [4]

Core Insights - Mineros S.A. will be included in the MSCI Colombia Small Cap Index effective November 30, 2025, marking a significant milestone for the company [1] - This inclusion reflects the company's sustained market performance and improvements in liquidity and market capitalization on the Colombian Stock Exchange [1] Company Performance - The recognition of Mineros S.A. in the MSCI index indicates a positive trend in its market performance [1] - The company has shown improvements in liquidity and market capitalization, which are critical factors for inclusion in the index [1] Market Impact - Being part of the MSCI Colombia Small Cap Index enhances the visibility of Mineros S.A. among investors and may attract more investment [1] - The rebalancing of the index signifies a broader recognition of the company's growth potential within the Colombian market [1]

Core Insights - Ruane Cunniff has significantly increased its stake in MSA Safety, now owning nearly $300 million worth of shares, making it the fund's 10th largest holding [1][2] - The total position in MSA Safety has reached 1,705,286 shares, valued at $293.43 million as of September 30, 2025, reflecting a substantial increase from the previous quarter [2][3] - MSA Safety represents 4.86% of Ruane Cunniff's reported U.S. equity assets under management (AUM) [3] Company Overview - MSA Safety Incorporated is a leading provider of advanced safety products, focusing on mission-critical applications with a strong market presence [5] - The company has a market capitalization of $6.24 billion and reported revenue of $1.86 billion and net income of $279.94 million for the trailing twelve months (TTM) [4] - MSA Safety's stock price was $159.27 as of November 13, 2025, which is down 9% over the past year, underperforming the S&P 500 by 21 percentage points [3][4] Financial Performance - MSA Safety has a dividend yield of 1.3%, utilizing only 29% of its net income for dividends, indicating potential for future dividend increases [9] - The company has a history of growing its dividend for over 50 consecutive years, achieving "Dividend King" status [8][9] - MSA Safety is currently trading at 22 times free cash flow, positioning it as a stable investment for passive income seekers [9] Product and Market Position - MSA Safety offers a diversified product portfolio, including gas and flame detection instruments, breathing apparatus, and protective equipment for various industries [7] - The company serves demanding environments such as oil & gas, petrochemical, utilities, and mining, targeting sectors with high safety requirements [7] - MSA Safety's operations are recognized as best-in-class, contributing to its elite status in the safety equipment market [9]