Guru John Rogers (Trades, Portfolio) did something in February that he has done in nearly every quarter for the last two years – he bought stock in MTS Systems Corp (MTSC, Financial), a provider of test systems and industrial position sensors based in suburban Minneapolis.
MTSC announced three weeks ago that it had reached an agreement with McLaren Applied Technologies (MAT, Financial) to manufacture a next-generation vehicle dynamics simulator (VDS).
MTSC was a new buy for Rogers when he bought nearly 700,000 shares in the second quarter of 2013. His subsequent purchases all have been smaller, but he has been adding to his stake regularly, in almost every quarter, since – with the exceptions of the first and second quarters of 2014, when the average price of a share was the highest it had been up to that time, and his sales were modest by his transaction standards.
Rogers bought 102,185 shares in MTSC for an average price of $72.45 per share. At the end of the fourth quarter, Joel Greenblatt (Trades, Portfolio) was the only other guru who had shares of MTSC in his portfolio.
Greenblatt had been a long-term holder of the stock with a stake in his portfolio that dated back to the third quarter of 2010. He periodically sold portions of it, then sold his remaining stake in the third quarter of 2014 and reinvested in the company with a 25,040-share purchase in the fourth quarter.
MTSC has a P/E of 24.7, a Price/Book of 4.4 and a Price/Sales of 2.0. It has a market cap of $1.14 billion and an enterprise value of $1.15 billion.
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