Harber Asset Management LLC Makes New Investment in MKS Inc. $MKSI

Key Points

• Harber Asset Management LLC acquired 82,140 shares of MKS Inc. for approximately $6.58 million, making MKS 2.3% of their investment portfolio.
• MKS reported Q2 earnings of $1.77 EPS, surpassing analysts' expectations, with revenue up 9.7% year-over-year.
• The company declared a quarterly dividend of $0.22 per share, which will be paid on September 5th, representing an annualized yield of 0.9%.

Harber Asset Management LLC acquired a new stake in shares of MKS Inc. (NASDAQ:MKSI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,140 shares of the scientific and technical instruments company's stock, valued at approximately $6,584,000. MKS makes up approximately 2.3% of Harber Asset Management LLC's portfolio, making the stock its 19th biggest holding. Harber Asset Management LLC owned about 0.12% of MKS as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sculptor Capital LP acquired a new position in shares of MKS during the first quarter valued at about $5,073,000. Kodai Capital Management LP increased its holdings in MKS by 138.3% in the 1st quarter. Kodai Capital Management LP now owns 708,021 shares of the scientific and technical instruments company's stock worth $56,748,000 after buying an additional 410,865 shares during the period. The Manufacturers Life Insurance Company increased its holdings in MKS by 10.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 543,421 shares of the scientific and technical instruments company's stock worth $43,560,000 after buying an additional 51,924 shares during the period. Canada Pension Plan Investment Board increased its holdings in MKS by 12.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 27,800 shares of the scientific and technical instruments company's stock worth $2,228,000 after buying an additional 3,100 shares during the period. Finally, Trexquant Investment LP increased its holdings in MKS by 357.4% in the 1st quarter. Trexquant Investment LP now owns 65,961 shares of the scientific and technical instruments company's stock worth $5,287,000 after buying an additional 51,541 shares during the period. Institutional investors and hedge funds own 99.79% of the company's stock.

Insider Buying and Selling at MKS

In other MKS news, Director Elizabeth Mora sold 300 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $99.85, for a total value of $29,955.00. Following the transaction, the director owned 19,263 shares in the company, valued at approximately $1,923,410.55. This trade represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jacqueline F. Moloney sold 300 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $92.10, for a total value of $27,630.00. Following the completion of the sale, the director directly owned 11,862 shares of the company's stock, valued at $1,092,490.20. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,600 shares of company stock worth $267,585. Corporate insiders own 0.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on MKSI shares. Wells Fargo & Company increased their price target on shares of MKS from $100.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, August 8th. Zacks Research lowered MKS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on MKS in a research report on Thursday, July 10th. They issued a "sell" rating and a $90.00 price objective on the stock. Mizuho upped their price objective on MKS from $105.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, Needham & Company LLC lowered their price objective on MKS from $140.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $119.80.

MKS Price Performance

Shares of NASDAQ:MKSI traded up $0.93 during midday trading on Thursday, reaching $101.17. 155,862 shares of the company's stock traded hands, compared to its average volume of 1,169,987. MKS Inc. has a 1 year low of $54.84 and a 1 year high of $125.33. The company has a market cap of $6.79 billion, a P/E ratio of 25.64, a PEG ratio of 1.20 and a beta of 1.94. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.88 and a current ratio of 2.99. The company has a fifty day simple moving average of $101.64 and a two-hundred day simple moving average of $89.58.

MKS (NASDAQ:MKSI - Get Free Report) last announced its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.16. The firm had revenue of $973.00 million for the quarter, compared to analyst estimates of $931.05 million. MKS had a return on equity of 20.65% and a net margin of 7.11%.The business's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. Equities analysts predict that MKS Inc. will post 6.94 EPS for the current fiscal year.

MKS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 25th will be issued a $0.22 dividend. The ex-dividend date is Monday, August 25th. This represents a $0.88 dividend on an annualized basis and a yield of 0.9%. MKS's dividend payout ratio (DPR) is presently 22.34%.

MKS Company 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.