Northern Trust Corp Buys 25,822 Shares of MKS Inc. $MKSI

Key Points

• Northern Trust Corp increased its stake in MKS Inc. by 4.2%, now owning 634,204 shares valued at approximately $50.8 million.
• MKS reported earnings of $1.77 EPS, surpassing analyst estimates, with revenue of $973 million for the latest quarter, a 9.7% year-over-year increase.
• The company announced a quarterly dividend of $0.22 per share, payable on September 5th, representing an annualized yield of 0.8%.

Northern Trust Corp raised its stake in shares of MKS Inc. (NASDAQ:MKSI - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 634,204 shares of the scientific and technical instruments company's stock after purchasing an additional 25,822 shares during the period. Northern Trust Corp owned 0.94% of MKS worth $50,831,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Brooklyn Investment Group grew its holdings in MKS by 1,168.3% during the first 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 during the period. Ethic Inc. boosted its stake in shares of MKS by 7.2% in the first quarter. Ethic Inc. now owns 17,863 shares of the scientific and technical instruments company's stock worth $1,434,000 after acquiring an additional 1,196 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of MKS in the first quarter worth about $234,000. Sit Investment Associates Inc. boosted its stake in shares of MKS by 1.8% in the first quarter. Sit Investment Associates Inc. now owns 39,125 shares of the scientific and technical instruments company's stock worth $3,136,000 after acquiring an additional 700 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of MKS by 1.2% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 73,174 shares of the scientific and technical instruments company's stock worth $5,865,000 after acquiring an additional 891 shares during the period. Institutional investors own 99.79% of the company's stock.

Insider Buying and Selling

In other MKS news, EVP David Philip Henry sold 2,000 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 20,571 shares in the company, valued at $2,159,955. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jacqueline F. Moloney sold 300 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $92.10, for a total value of $27,630.00. Following the sale, the director owned 11,862 shares in the company, valued at approximately $1,092,490.20. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company's stock.

MKS Price Performance

Shares of MKS stock opened at $105.68 on Thursday. The stock has a 50 day moving average of $100.74 and a 200 day moving average of $89.76. MKS Inc. has a 12 month low of $54.84 and a 12 month high of $125.33. The firm has a market cap of $7.10 billion, a PE ratio of 26.82, a PEG ratio of 1.24 and a beta of 1.86. The company has a current ratio of 2.99, a quick ratio of 1.88 and a debt-to-equity ratio of 1.71.

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 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 company had revenue of $973.00 million during the quarter, compared to analyst estimates of $931.05 million. During the same period in the prior year, the company earned $1.53 earnings per share. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 25th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, August 25th. This represents a $0.88 dividend on an annualized basis and a yield of 0.8%. MKS's dividend payout ratio is 22.34%.

Wall Street Analysts Forecast Growth

MKSI has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on MKS from $100.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Wall Street Zen lowered MKS from a "strong-buy" rating to a "buy" rating in a research note on Friday, August 22nd. Cantor Fitzgerald upped their price objective on MKS from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. Needham & Company LLC dropped their price objective on MKS from $140.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Finally, Mizuho upped their price objective on MKS from $105.00 to $118.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $119.80.

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.

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