OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in MKS Inc. (NASDAQ:MKSI – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,477 shares of the scientific and technical instruments company’s stock, valued at approximately $8,219,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in MKS by 560.0% in the fourth quarter. Global Retirement Partners LLC now owns 165 shares of the scientific and technical instruments company’s stock valued at $26,000 after buying an additional 140 shares in the last quarter. IFP Advisors Inc boosted its position in shares of MKS by 616.7% during the 4th quarter. IFP Advisors Inc now owns 172 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 148 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of MKS in the 2nd quarter valued at about $33,000. Clearstead Trust LLC purchased a new position in shares of MKS in the 2nd quarter valued at about $36,000. Finally, Danske Bank A S acquired a new stake in shares of MKS during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 99.79% of the company’s stock.
MKS Price Performance
Shares of MKSI opened at $281.88 on Friday. MKS Inc. has a fifty-two week low of $97.50 and a fifty-two week high of $447.62. The firm has a 50-day simple moving average of $343.48 and a 200-day simple moving average of $294.36. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.72 and a current ratio of 1.14. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 44.96, a price-to-earnings-growth ratio of 0.60 and a beta of 1.98.
MKS Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Tuesday, August 25th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 25th. This represents a $1.00 annualized dividend and a dividend yield of 0.4%. MKS’s payout ratio is presently 15.95%.
Insider Buying and Selling at MKS
In related news, Director Gerald G. Colella sold 20,000 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $333.40, for a total transaction of $6,668,000.00. Following the completion of the transaction, the director directly owned 20,017 shares of the company’s stock, valued at $6,673,667.80. This represents a 49.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Tseng-Chung Lee sold 10,000 shares of MKS stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $302.01, for a total value of $3,020,100.00. Following the completion of the sale, the chief executive officer owned 134,776 shares in the company, valued at approximately $40,703,699.76. This trade represents a 6.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 37,491 shares of company stock valued at $12,102,072. Insiders own 0.57% of the company’s stock.
Wall Street Analyst Weigh In
MKSI has been the subject of several recent analyst reports. Wall Street Zen upgraded MKS from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. The Goldman Sachs Group reiterated a “sell” rating and issued a $265.00 price target on shares of MKS in a research note on Thursday, May 7th. Needham & Company LLC raised their price objective on shares of MKS from $360.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of MKS from $374.00 to $442.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company upped their target price on shares of MKS from $300.00 to $325.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MKS currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.00.
View Our Latest Stock Analysis on MKSI
About MKS
MKS Instruments, Inc (NASDAQ: MKSI) designs, manufactures and markets technology solutions that enable advanced processes in a variety of high‐technology and industrial markets. The company’s core offerings include vacuum and gas delivery systems, pressure and flow measurement instruments, optical metrology tools, photonics subsystems and critical components for manufacturing processes. These products support the precise control and monitoring needs of semiconductor, industrial manufacturing, life and health sciences, and research applications.
The company’s product portfolio features mass flow controllers, pressure transducers, vacuum gauges, gas purity monitors, laser-based metrology systems and photonic devices such as lasers and detectors.
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