Fifth Third Bancorp Lowers Stake in MKS Inc. $MKSI

Key Points

• Fifth Third Bancorp significantly reduced its stake in MKS Inc. by 86.6%, ending with only 589 shares valued at $59,000 after the sale of 3,819 shares in the second quarter.
• MKS recently reported a quarterly earnings per share (EPS) of $1.77, surpassing analysts' expectations of $1.61, with revenue hitting $973 million compared to forecasts of $931.05 million.
• The company announced a quarterly dividend of $0.22 per share, translating to an annualized dividend of $0.88 and a yield of 0.6%.

Fifth Third Bancorp reduced its holdings in shares of MKS Inc. (NASDAQ:MKSI - Free Report) by 86.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589 shares of the scientific and technical instruments company's stock after selling 3,819 shares during the period. Fifth Third Bancorp's holdings in MKS were worth $59,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MKSI. Wellington Management Group LLP raised its stake in MKS by 41.8% during the first quarter. Wellington Management Group LLP now owns 3,250,085 shares of the scientific and technical instruments company's stock valued at $260,494,000 after buying an additional 958,607 shares during the last quarter. Channing Capital Management LLC purchased a new position in MKS during the first quarter valued at $44,320,000. Madison Asset Management LLC raised its stake in MKS by 52.9% during the first 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 buying an additional 494,207 shares during the last quarter. Kodai Capital Management LP raised its holdings in MKS by 138.3% in the first 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 last quarter. Finally, Millennium Management LLC raised its holdings in MKS by 132.2% in the first quarter. Millennium Management LLC now owns 545,109 shares of the scientific and technical instruments company's stock worth $43,690,000 after buying an additional 310,314 shares during the last quarter. Hedge funds and other institutional investors own 99.79% of the company's stock.

MKS Stock Up 4.0%

MKSI opened at $136.54 on Friday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.51 and a beta of 1.97. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 1.71. MKS Inc. has a twelve month low of $54.84 and a twelve month high of $137.14. The firm has a 50 day moving average price of $108.67 and a 200-day moving average price of $93.67.

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 analysts' consensus estimates of $1.61 by $0.16. The company had revenue of $973.00 million during the quarter, compared to analysts' expectations of $931.05 million. MKS had a return on equity of 20.65% and a net margin of 7.11%.MKS's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 earnings per share. Equities research analysts forecast that MKS Inc. will post 6.94 earnings per share for the current year.

MKS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 25th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, August 25th. MKS's dividend payout ratio is currently 22.34%.

Analyst Ratings Changes

Several research analysts have issued reports on MKSI shares. Cantor Fitzgerald lifted their target price on shares of MKS from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Wall Street Zen raised shares of MKS from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 20th. Morgan Stanley boosted their price target on MKS from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. Zacks Research cut MKS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Finally, Needham & Company LLC decreased their price target on MKS from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Eight equities research 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's stock. Based on data from MarketBeat, MKS presently has a consensus rating of "Moderate Buy" and an average price target of $119.80.

Insider Buying and Selling at MKS

In other MKS news, EVP David Philip Henry sold 5,000 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president owned 15,571 shares in the company, valued at $2,024,230. This represents a 24.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jacqueline F. Moloney sold 300 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $122.14, for a total value of $36,642.00. Following the completion of the sale, the director owned 11,562 shares of the company's stock, valued at approximately $1,412,182.68. The trade was a 2.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,900 shares of company stock valued at $744,227. Insiders own 0.57% of the company's stock.

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.

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