PNC Financial Services Group Inc. Sells 2,070 Shares of MKS Inc. (NASDAQ:MKSI)

PNC Financial Services Group Inc. reduced its position in MKS Inc. (NASDAQ:MKSI) by 25.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,923 shares of the scientific and technical instruments company’s stock after selling 2,070 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MKS were worth $475,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MKSI. Teacher Retirement System of Texas purchased a new stake in shares of MKS in the first quarter worth approximately $789,000. Artemis Investment Management LLP boosted its holdings in MKS by 2.2% during the 1st quarter. Artemis Investment Management LLP now owns 251,799 shares of the scientific and technical instruments company’s stock valued at $20,182,000 after acquiring an additional 5,422 shares during the period. M&T Bank Corp grew its position in MKS by 15.5% in the 1st quarter. M&T Bank Corp now owns 18,884 shares of the scientific and technical instruments company’s stock valued at $1,513,000 after acquiring an additional 2,530 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in MKS by 16.2% in 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, Raymond James Financial Inc. bought a new stake in shares of MKS during the fourth quarter worth $28,312,000. Institutional investors own 99.79% of the company’s stock.

Insider Transactions at MKS

In other news, Director Jacqueline F. Moloney sold 300 shares of the firm’s stock in a transaction dated 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 directly owned 11,862 shares in the company, valued at approximately $1,092,490.20. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Philip Henry sold 2,000 shares of MKS 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 completion of the transaction, the executive vice president directly owned 20,571 shares in the company, valued at approximately $2,159,955. The trade was a 8.86% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

MKS Stock Performance

Shares of MKSI stock opened at $104.36 on Thursday. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 1.21 and a beta of 1.86. MKS Inc. has a 52-week low of $54.84 and a 52-week 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’s 50 day moving average is $98.48 and its 200 day moving average is $90.29.

MKS (NASDAQ:MKSI) 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 analysts’ consensus estimates of $1.61 by $0.16. The business had revenue of $973.00 million for the quarter, compared to the consensus estimate of $931.05 million. MKS had a return on equity of 20.65% and a net margin of 7.11%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.53 EPS. On average, sell-side analysts anticipate that MKS Inc. will post 6.94 EPS for the current fiscal year.

MKS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 25th will be issued a $0.22 dividend. 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 payout ratio is currently 22.34%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Mizuho upped their price target on shares of MKS from $105.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, July 14th. Cantor Fitzgerald upped their target price on shares of MKS from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 24th. Morgan Stanley lifted their price target on shares of MKS from $100.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Wells Fargo & Company increased 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. Finally, The Goldman Sachs Group assumed coverage on MKS in a report on Thursday, July 10th. They set a “sell” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.