The Manufacturers Life Insurance Company Reduces Stock Holdings in MKS Instruments, Inc. (NASDAQ:MKSI)

The Manufacturers Life Insurance Company lowered its stake in MKS Instruments, Inc. (NASDAQ:MKSI) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 368,441 shares of the scientific and technical instruments company’s stock after selling 50,453 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MKS Instruments were worth $40,053,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of MKS Instruments by 196.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 288 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 191 shares in the last quarter. Key Financial Inc bought a new stake in MKS Instruments during the 2nd quarter valued at approximately $39,000. Quarry LP purchased a new position in shares of MKS Instruments during the 2nd quarter worth approximately $39,000. BOKF NA bought a new position in shares of MKS Instruments in the 2nd quarter worth approximately $39,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of MKS Instruments by 62.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 309 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 119 shares during the period. 99.79% of the stock is owned by hedge funds and other institutional investors.

MKS Instruments Trading Down 0.7 %

Shares of NASDAQ:MKSI opened at $112.36 on Friday. MKS Instruments, Inc. has a 1 year low of $78.17 and a 1 year high of $147.40. The stock’s fifty day moving average price is $107.34 and its 200-day moving average price is $118.18. The company has a market cap of $7.56 billion, a P/E ratio of 249.68, a PEG ratio of 0.69 and a beta of 1.63. The company has a debt-to-equity ratio of 1.98, a current ratio of 3.42 and a quick ratio of 2.21.

MKS Instruments (NASDAQ:MKSI) last announced its quarterly earnings results on Wednesday, November 6th. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.27. MKS Instruments had a net margin of 0.90% and a return on equity of 15.79%. The firm had revenue of $896.00 million for the quarter, compared to the consensus estimate of $874.29 million. During the same quarter last year, the firm posted $1.46 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Sell-side analysts expect that MKS Instruments, Inc. will post 6.22 earnings per share for the current year.

MKS Instruments Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.88 dividend on an annualized basis and a yield of 0.78%. MKS Instruments’s dividend payout ratio is presently 195.56%.

Analyst Ratings Changes

MKSI has been the topic of several recent research reports. Cantor Fitzgerald assumed coverage on MKS Instruments in a research note on Tuesday, September 10th. They issued an “overweight” rating and a $140.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of MKS Instruments from $140.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Mizuho raised shares of MKS Instruments to a “strong-buy” rating in a research note on Monday, October 7th. Needham & Company LLC boosted their price target on MKS Instruments from $153.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup downgraded MKS Instruments from a “buy” rating to a “neutral” rating and cut their price target for the stock from $145.00 to $120.00 in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MKS Instruments currently has an average rating of “Moderate Buy” and a consensus price target of $141.09.

Insider Activity

In related news, Director Elizabeth Mora sold 275 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $115.97, for a total transaction of $31,891.75. Following the completion of the sale, the director now directly owns 17,934 shares in the company, valued at approximately $2,079,805.98. The trade was a 1.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jacqueline F. Moloney sold 250 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $108.90, for a total transaction of $27,225.00. Following the completion of the transaction, the director now owns 10,283 shares in the company, valued at $1,119,818.70. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

MKS Instruments Profile

MKS Instruments, Inc provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, Germany, China, South Korea, and internationally. It operates through Vacuum Solutions Division (VSD), Photonics Solutions Division (PSD), and Material Solutions Division (MSD) segments.