Harbor Capital Advisors Inc. Sells 9,979 Shares of MKS Inc. $MKSI

Key Points

• Harbor Capital Advisors Inc. decreased its stake in MKS Inc. by 9.1%, selling 9,979 shares and now owns 99,776 shares valued at approximately $9.9 million.
• MKS Inc. reported a quarterly earnings per share (EPS) of $1.77, surpassing estimates by $0.16, with revenue reaching $973 million, marking a year-over-year increase of 9.7%.
• The company declared a quarterly dividend of $0.22, with an annualized yield of 0.8% and a payout ratio of 22.34%.

Harbor Capital Advisors Inc. reduced its position in shares of MKS Inc. (NASDAQ:MKSI - Free Report) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,776 shares of the scientific and technical instruments company's stock after selling 9,979 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.15% of MKS worth $9,914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors boosted its stake in MKS by 66.7% during the first quarter. Optimum Investment Advisors now owns 500 shares of the scientific and technical instruments company's stock valued at $40,000 after buying an additional 200 shares in the last quarter. Parallel Advisors LLC lifted its holdings in MKS by 89.3% in the 1st quarter. Parallel Advisors LLC now owns 581 shares of the scientific and technical instruments company's stock valued at $47,000 after acquiring an additional 274 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of MKS by 1,168.3% during the 1st quarter. Brooklyn Investment Group now owns 799 shares of the scientific and technical instruments company's stock valued at $64,000 after purchasing an additional 736 shares in the last quarter. Signaturefd LLC grew its stake in shares of MKS by 79.2% in the 1st quarter. Signaturefd LLC now owns 828 shares of the scientific and technical instruments company's stock worth $66,000 after purchasing an additional 366 shares during the last quarter. Finally, eCIO Inc. acquired a new position in shares of MKS in the 1st quarter worth approximately $77,000. Institutional investors own 99.79% of the company's stock.

MKS Stock Up 0.9%

Shares of MKS stock traded up $1.09 on Wednesday, hitting $119.44. 1,590,570 shares of the company traded hands, compared to its average volume of 949,558. MKS Inc. has a 12-month low of $54.84 and a 12-month high of $125.33. The company has a quick ratio of 1.88, a current ratio of 2.99 and a debt-to-equity ratio of 1.71. The company has a market cap of $8.02 billion, a PE ratio of 30.31, a PEG ratio of 1.36 and a beta of 1.94. The company has a 50-day moving average price of $103.48 and a 200 day moving average price of $90.38.

MKS (NASDAQ:MKSI - Get Free Report) last released its quarterly earnings data 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. 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 analysts' expectations of $931.05 million. During the same quarter last year, the firm earned $1.53 earnings per share. The business's revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that MKS Inc. will post 6.94 earnings per share for the current year.

MKS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Monday, August 25th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $0.88 annualized dividend and a dividend yield of 0.7%. MKS's payout ratio is presently 22.34%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MKSI shares. The Goldman Sachs Group started coverage on shares of MKS in a research note on Thursday, July 10th. They set a "sell" rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of MKS in a research report on Friday, August 8th. Cantor Fitzgerald lifted their target price on MKS from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Wells Fargo & Company boosted their target price on MKS from $100.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Finally, Zacks Research downgraded MKS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MKS presently has an average rating of "Moderate Buy" and an average target price of $119.80.

Insider Buying and Selling

In other news, EVP David Philip Henry sold 2,000 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $105.00, for a total transaction of $210,000.00. Following the transaction, the executive vice president owned 20,571 shares in the company, valued at $2,159,955. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jacqueline F. Moloney sold 300 shares of MKS stock in a transaction on Friday, August 1st. The shares were sold at an average price of $92.10, for a total transaction of $27,630.00. Following the completion of the sale, the director directly owned 11,862 shares of the company's stock, valued at approximately $1,092,490.20. The trade was a 2.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,600 shares of company stock worth $267,585. Insiders own 0.57% of the company's stock.

MKS 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.