Commerce Bank bought a new stake in shares of MKS Inc. (NASDAQ:MKSI – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,224 shares of the scientific and technical instruments company’s stock, valued at approximately $2,768,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. purchased a new position in MKS in the second quarter valued at $25,000. Allied Private Wealth LLC acquired a new stake in shares of MKS during 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. Carolina Wealth Advisors LLC raised its holdings in MKS by 47.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 87 shares of the scientific and technical instruments company’s stock worth $39,000 after purchasing an additional 28 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in MKS during the second quarter worth approximately $40,000. 99.79% of the stock is owned by hedge funds and other institutional investors.
MKS Stock Down 3.6%
MKSI stock opened at $269.06 on Tuesday. The company has a market cap of $18.19 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 0.59 and a beta of 1.98. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.85. MKS Inc. has a 12 month low of $97.50 and a 12 month high of $447.62. The firm has a 50-day moving average of $339.83 and a two-hundred day moving average of $294.95.
MKS Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Tuesday, August 25th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 25th. This represents a $1.00 dividend on an annualized basis and a yield of 0.4%. MKS’s dividend payout ratio (DPR) is presently 15.95%.
Insider Activity at MKS
In other MKS news, CAO Michelle M. Mccarthy sold 2,434 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $315.23, for a total value of $767,269.82. Following the completion of the sale, the chief accounting officer directly owned 2 shares of the company’s stock, valued at $630.46. This trade represents a 99.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph B. Donahue sold 2,100 shares of MKS stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $327.95, for a total value of $688,695.00. Following the transaction, the director owned 10,033 shares in the company, valued at approximately $3,290,322.35. This represents a 17.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,991 shares of company stock valued at $11,275,822 in the last three months. Company insiders own 0.57% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $265.00 target price on shares of MKS in a research note on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $600.00 price objective on shares of MKS in a report on Monday, August 3rd. BMO Capital Markets started coverage on shares of MKS in a research note on Tuesday, June 30th. They set an “outperform” rating and a $453.00 target price for the company. Bank of America raised their price target on shares of MKS from $380.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft set a $360.00 price objective on MKS in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $385.00.
Read Our Latest Stock Analysis on MKS
MKS Company 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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