Bank of New York Mellon Corp Sells 7,982 Shares of MKS Inc. (NASDAQ:MKSI)

Bank of New York Mellon Corp trimmed its stake in shares of MKS Inc. (NASDAQ:MKSI - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 603,708 shares of the scientific and technical instruments company's stock after selling 7,982 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of MKS worth $48,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MKSI. Teacher Retirement System of Texas acquired a new stake in shares of MKS during the first quarter worth approximately $789,000. Prudential Financial Inc. increased its holdings in shares of MKS by 772.7% during the fourth quarter. Prudential Financial Inc. now owns 61,447 shares of the scientific and technical instruments company's stock worth $6,481,000 after buying an additional 54,406 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of MKS during the fourth quarter worth approximately $1,480,000. Artemis Investment Management LLP lifted its position in shares of MKS by 2.2% during the first quarter. Artemis Investment Management LLP now owns 251,799 shares of the scientific and technical instruments company's stock worth $20,182,000 after purchasing an additional 5,422 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of MKS during the fourth quarter worth approximately $85,451,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MKSI. Mizuho upped their target price on shares of MKS from $105.00 to $118.00 and gave the stock an "outperform" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upgraded shares of MKS from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Tuesday, May 20th. The Goldman Sachs Group began coverage on shares of MKS in a research report on Thursday, July 10th. They set a "sell" rating and a $90.00 target price on the stock. Morgan Stanley upped their target price on shares of MKS from $93.00 to $100.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Needham & Company LLC reduced their target price on shares of MKS from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.80.

Insiders Place Their Bets

In other MKS news, EVP David Philip Henry sold 2,000 shares of MKS stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $105.00, for a total value of $210,000.00. Following the transaction, the executive vice president owned 20,571 shares of the company's stock, valued at approximately $2,159,955. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.57% of the company's stock.

MKS Trading Up 0.7%

NASDAQ:MKSI traded up $0.76 during trading hours on Thursday, hitting $102.73. The stock had a trading volume of 105,925 shares, compared to its average volume of 1,053,083. MKS Inc. has a one year low of $54.84 and a one year high of $141.45. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.96 and a current ratio of 3.11. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 30.66, a P/E/G ratio of 1.17 and a beta of 1.88. The business's 50 day moving average is $93.36 and its 200-day moving average is $92.19.

MKS (NASDAQ:MKSI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.42 by $0.29. MKS had a net margin of 6.21% and a return on equity of 20.67%. The firm had revenue of $936.00 million during the quarter, compared to the consensus estimate of $913.59 million. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The business's quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that MKS Inc. will post 6.94 EPS for the current fiscal year.

MKS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 27th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, May 27th. MKS's payout ratio is currently 26.27%.

About MKS

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.