Concentric Capital Strategies LP grew its stake in shares of MKS Inc. (NASDAQ:MKSI – Free Report) by 36.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 102,590 shares of the scientific and technical instruments company’s stock after acquiring an additional 27,677 shares during the period. MKS comprises approximately 0.8% of Concentric Capital Strategies LP’s investment portfolio, making the stock its 24th biggest holding. Concentric Capital Strategies LP owned approximately 0.15% of MKS worth $16,394,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MKSI. Vanguard Group Inc. increased its holdings in MKS by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 7,752,097 shares of the scientific and technical instruments company’s stock worth $959,477,000 after purchasing an additional 295,480 shares during the period. Dimensional Fund Advisors LP lifted its holdings in MKS by 30.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,265,365 shares of the scientific and technical instruments company’s stock worth $156,602,000 after buying an additional 297,850 shares during the period. Geode Capital Management LLC lifted its stake in shares of MKS by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,254,049 shares of the scientific and technical instruments company’s stock worth $200,438,000 after purchasing an additional 5,551 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of MKS by 44.2% in the 2nd quarter. Bank of America Corp DE now owns 982,643 shares of the scientific and technical instruments company’s stock valued at $97,635,000 after buying an additional 301,223 shares in the last quarter. Finally, Norges Bank purchased a new stake in MKS during the fourth quarter valued at approximately $147,453,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.
MKS Trading Up 1.4%
Shares of MKS stock opened at $371.26 on Thursday. The firm’s 50 day simple moving average is $303.72 and its two-hundred day simple moving average is $242.34. The firm has a market capitalization of $25.07 billion, a price-to-earnings ratio of 77.67, a PEG ratio of 1.30 and a beta of 1.99. MKS Inc. has a 12-month low of $88.49 and a 12-month high of $386.01. The company has a current ratio of 1.11, a quick ratio of 0.70 and a debt-to-equity ratio of 0.94.
MKS Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, June 3rd. MKS’s payout ratio is presently 20.92%.
Insiders Place Their Bets
In other news, EVP Kathleen Flaherty Burke sold 4,355 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $319.94, for a total value of $1,393,338.70. Following the completion of the transaction, the executive vice president directly owned 49,439 shares in the company, valued at $15,817,513.66. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David Philip Henry sold 2,500 shares of MKS stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $330.50, for a total value of $826,250.00. Following the sale, the executive vice president directly owned 16,341 shares of the company’s stock, valued at $5,400,700.50. This trade represents a 13.27% decrease in their position. 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. In the last ninety days, insiders sold 53,949 shares of company stock valued at $17,446,108. Insiders own 0.57% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on MKSI. Mizuho set a $400.00 price target on shares of MKS in a report on Wednesday, May 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of MKS in a report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on MKS from $305.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. KeyCorp upped their target price on MKS from $310.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Cantor Fitzgerald increased their price target on MKS from $300.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $324.92.
Get Our Latest Stock Analysis on MKS
MKS Profile
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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