Gabelli Funds LLC Has $3 Million Stock Holdings in MKS Inc. $MKSI

Key Points

• Gabelli Funds LLC increased its stake in MKS Inc. by 16.5%, owning 37,386 shares valued at approximately $3 million following a recent acquisition during the 1st quarter.
• MKS reported a 9.7% increase in revenue year-over-year with Q2 earnings of $1.77 EPS, exceeding expectations and demonstrating strong financial performance.
• The company has declared a quarterly dividend of $0.22 per share, reflecting a 0.9% yield and a payout ratio of 22.34%.

Gabelli Funds LLC lifted its stake in MKS Inc. (NASDAQ:MKSI - Free Report) by 16.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,386 shares of the scientific and technical instruments company's stock after acquiring an additional 5,300 shares during the quarter. Gabelli Funds LLC owned approximately 0.06% of MKS worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Teacher Retirement System of Texas acquired a new position in MKS during the first quarter worth $789,000. Artemis Investment Management LLP grew its position in 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 buying an additional 5,422 shares in the last quarter. M&T Bank Corp grew its position in MKS by 15.5% during the first quarter. M&T Bank Corp now owns 18,884 shares of the scientific and technical instruments company's stock worth $1,513,000 after buying an additional 2,530 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in MKS by 16.2% during the first quarter. Envestnet Asset Management Inc. now owns 110,765 shares of the scientific and technical instruments company's stock worth $8,878,000 after purchasing an additional 15,482 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in MKS by 33.7% during the first quarter. Janney Montgomery Scott LLC now owns 11,973 shares of the scientific and technical instruments company's stock valued at $960,000 after purchasing an additional 3,021 shares in the last quarter. 99.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Elizabeth Mora sold 300 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $99.85, for a total value of $29,955.00. Following the completion of the transaction, the director directly owned 19,263 shares of the company's stock, valued at approximately $1,923,410.55. This represents a 1.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Philip Henry sold 2,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the transaction, the executive vice president directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 2,600 shares of company stock valued at $267,585. Company insiders own 0.57% of the company's stock.

MKS Trading Up 1.5%

Shares of MKS stock traded up $1.48 on Thursday, hitting $101.72. 651,402 shares of the company's stock traded hands, compared to its average volume of 945,205. MKS Inc. has a one year low of $54.84 and a one year high of $125.33. The stock has a market capitalization of $6.83 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.16 and a beta of 1.94. 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 firm's 50-day moving average price is $101.67 and its two-hundred day moving average price is $89.57.

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

MKS Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on MKS from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, June 24th. Morgan Stanley lifted their price objective on MKS from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group began coverage on MKS in a report on Thursday, July 10th. They set a "sell" rating and a $90.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of MKS from $100.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, August 8th. Finally, Mizuho lifted their target price on shares of MKS from $105.00 to $118.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, MKS currently has an average rating of "Moderate Buy" and an average price target of $119.80.

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.