 Shares of MSA Safety Inc NYSE:MSA rose by 1.4 from the previous closing price. A Form 4 filing filed with the SEC on Tuesday, August 11 showed that Lambert William M sold 53,922 shares at an average price of 124.03. The transaction moved the executives stake in MSA Safety Inc. to 25,133 shares.Why Insider Transactions Are Important? Insider transactions shouldnt be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.Insiders buying stock after a notable sell off can indicate an insiders long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesnt feel the stock is overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. If the transaction was an open-market transaction, that means that the insider made a concious decision for the companys stock moving forward.Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company.See more from Benzinga Earnings Scheduled For July 29, 2020C 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 