APG Asset Management US Inc. Updates Passive Stake in MSA Safety

TL;DR

**APG Asset Management US Inc. still owns MSA, but they're just holding, not shaking things up.**

AI Summary

APG Asset Management US Inc. has updated its ownership stake in MSA Safety Inc. (NYSE: MSA) as of December 31, 2023, filing an amended SC 13G/A. This filing indicates that APG Asset Management US Inc. is a passive investor, holding a significant but non-controlling interest in MSA Safety Inc. This matters to investors because it shows a large institutional investor maintains a position, suggesting continued confidence in the company's long-term prospects, but without any intent to influence management.

Why It Matters

This filing confirms a major institutional investor's continued, passive interest in MSA Safety Inc., providing a vote of confidence without signaling any immediate strategic changes.

Risk Assessment

Risk Level: low — This filing is routine for institutional investors and indicates a passive stake, posing minimal risk to current shareholders.

Analyst Insight

Investors should view this as a routine update from a large institutional holder, confirming their continued, passive interest in MSA Safety Inc. without signaling any immediate need for action.

Key Players & Entities

• APG Asset Management US Inc. (company) — the reporting person and institutional investor
• MSA Safety Inc. (company) — the subject company whose shares are being reported
• December 31, 2023 (date) — the date of the event requiring this filing
• 553498106 (number) — the CUSIP number for MSA Safety Inc. Common Stock

Forward-Looking Statements

• APG Asset Management US Inc. will likely maintain its passive investment strategy in MSA Safety Inc. for the foreseeable future. (APG Asset Management US Inc.) — high confidence, target: 2025-12-31

FAQ

Filing Documents

• formsc13ga.htm (SC 13G/A) — 144KB
• ex1.htm (EX-1) — 12KB
• 0001493152-24-005295.txt ( ) — 159KB

From the Filing

SC 13G/A 1 formsc13ga.htm UNITED SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 4)* MSA Safety Inc. (Name of Issuer) Common Stock, no par value (Title of Class of Securities) 553498106 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 553498106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) APG Asset Management US Inc. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware, United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,513,317* 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,513,317* 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,513,317* 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO, IA * Based on 39,311,193 Common Shares outstanding as of October 20, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023, filed with the Securities and Exchange Commission on October 25, 2023. CUSIP No. 553498106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) APG Asset Management, N.V. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Kingdom of the Netherlands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,513,317* 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,513,317* 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,513,317* 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO * Based on 39,311,193 Common Shares outstanding as of October 20, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023, filed with the Securities and Exchange Commission on October 25, 2023. CUSIP No. 553498106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) APG Groep, N.V. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Kingdom of the Netherlands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,513,317* 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,513,317* 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,513,317* 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.4% 12. TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO * Based on 39,311,193 Common Shares outstanding as of October 20, 2023, as reported in the Issuer’s Report on Form 10-Q for the period ended September 30, 2023, filed with the Securities and Exchange Commission on October 25, 2023. CUSIP No. 553498106 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Stichting Pensioenfonds ABP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Kingdom of the Netherlands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 4,513,317* 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 4,513,317* 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,

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View this SC 13G/A filing on SEC EDGAR