Is MSA Safety Incorporated (MSA) A Good Stock To Buy?

Consequently, key hedge funds were leading the bulls’ herd. Joel Greenblatt of Gotham Asset Management initiated the largest position in Mine Safety Incorporated (NYSE:MSA). Gotham Asset Management had $0.6 million invested in the company at the end of the quarter. Matthew Hulsizer’s PEAK6 Capital Management also initiated a $0 million position during the quarter. The following funds were also among the new MSA investors: Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital and PEAK6 Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Mine Safety Incorporated (NYSE:MSA) but similarly valued. We will take a look at Allegiant Travel Company (NASDAQ:ALGT), Sanderson Farms, Inc. (NASDAQ:SAFM), Glacier Bancorp, Inc. (NASDAQ:GBCI), and Owens & Minor, Inc. (NYSE:OMI). All of these stocks’ market caps are closest to MSA’s market cap.

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $163 million. That figure was $18 million in MSA’s case. Allegiant Travel Company (NASDAQ:ALGT) is the most popular stock in this table. On the other hand Glacier Bancorp, Inc. (NASDAQ:GBCI) is the least popular one with only 5 bullish hedge fund positions. Mine Safety Incorporated (NYSE:MSA) is not the least popular stock in this group but hedge fund interest is still below average. MSA has been a strong performer this year and several hedge funds sold out of the stock too early at the end of last year. Usually they jump back in after a stock shows some momentum, but this hasn’t been the case with MSA. Given the stock’s forward P/E multiple of 21, we’d also be more inclined to look elsewhere for value.

Disclosure: None