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 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]