Citigroup Inc. Lowers Stock Holdings in MKS Inc. (NASDAQ:MKSI)

Key Points

• Citigroup Inc. has reduced its stake in MKS Inc. by 20.2%, selling 97,643 shares and now owning about 0.57% of the company, valued at approximately $30.9 million.
• MKS reported strong earnings with $1.77 EPS for the latest quarter, exceeding analyst expectations, and a year-over-year revenue increase of 9.7%.
• The company announced a quarterly dividend of $0.22, representing a 0.9% yield, with a payout ratio of 22.34% and an ex-dividend date set for August 25th.

Citigroup Inc. trimmed its holdings in shares of MKS Inc. (NASDAQ:MKSI - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,478 shares of the scientific and technical instruments company's stock after selling 97,643 shares during the quarter. Citigroup Inc. owned 0.57% of MKS worth $30,896,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MKSI. Madison Asset Management LLC increased its position in MKS by 52.9% during the 1st quarter. Madison Asset Management LLC now owns 1,428,143 shares of the scientific and technical instruments company's stock valued at $114,466,000 after purchasing an additional 494,207 shares during the period. Shapiro Capital Management LLC bought a new position in MKS in the fourth quarter worth about $48,228,000. Victory Capital Management Inc. raised its holdings in MKS by 9.7% in the first quarter. Victory Capital Management Inc. now owns 3,388,639 shares of the scientific and technical instruments company's stock worth $271,599,000 after purchasing an additional 300,356 shares in the last quarter. Raymond James Financial Inc. bought a new position in MKS in the fourth quarter worth about $28,312,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in MKS by 158.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 367,437 shares of the scientific and technical instruments company's stock worth $38,357,000 after purchasing an additional 225,285 shares in the last quarter. 99.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MKS news, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Philip Henry sold 2,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $105.00, for a total value of $210,000.00. Following the completion of the sale, the executive vice president directly owned 20,571 shares of the company's stock, valued at $2,159,955. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on MKSI. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of MKS in a report on Friday, August 8th. Cantor Fitzgerald upped their price objective on shares of MKS from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, June 24th. Needham & Company LLC cut their price objective on shares of MKS from $140.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company upped their price objective on shares of MKS from $100.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, August 8th. Finally, Mizuho upped their price objective on shares of MKS from $105.00 to $118.00 and gave the company an "outperform" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $119.80.

MKS Price Performance

NASDAQ MKSI traded down $4.51 during mid-day trading on Friday, hitting $100.22. The stock had a trading volume of 1,054,933 shares, compared to its average volume of 1,099,695. The firm's 50 day moving average is $99.06 and its 200 day moving average is $90.22. MKS Inc. has a twelve month low of $54.84 and a twelve month high of $125.33. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.99 and a quick ratio of 1.88. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.22 and a beta of 1.86.

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

MKS Dividend Announcement

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