Royal Bank of Canada Sells 77,741 Shares of MKS Instruments, Inc. (MKSI)
Royal Bank of Canada cut its holdings in shares of MKS Instruments, Inc. (NASDAQ:MKSI) by 6.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,777 shares of the scientific and technical instruments company’s stock after selling 77,741 shares during the quarter. Royal Bank of Canada owned approximately 1.93% of MKS Instruments worth $70,517,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Riverhead Capital Management LLC boosted its stake in shares of MKS Instruments by 71.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,063 shares of the scientific and technical instruments company’s stock worth $139,000 after buying an additional 863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MKS Instruments by 47.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,201 shares of the scientific and technical instruments company’s stock valued at $151,000 after purchasing an additional 712 shares during the last quarter. Creative Planning boosted its position in MKS Instruments by 22.8% during the second quarter. Creative Planning now owns 2,239 shares of the scientific and technical instruments company’s stock valued at $151,000 after purchasing an additional 416 shares during the last quarter. Good Life Advisors LLC acquired a new position in MKS Instruments during the second quarter valued at approximately $203,000. Finally, Suntrust Banks Inc. acquired a new position in MKS Instruments during the first quarter valued at approximately $209,000. 95.38% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Seth H. Bagshaw sold 7,500 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $85.80, for a total value of $643,500.00. Following the transaction, the chief financial officer now directly owns 21,615 shares of the company’s stock, valued at approximately $1,854,567. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Charles Quirk sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $79.30, for a total transaction of $158,600.00. Following the completion of the transaction, the vice president now directly owns 15,785 shares in the company, valued at $1,251,750.50. The disclosure for this sale can be found here. Insiders have sold 11,100 shares of company stock worth $935,105 over the last quarter. 1.65% of the stock is currently owned by corporate insiders.
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A number of research firms have weighed in on MKSI. BidaskClub downgraded MKS Instruments from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 5th. Deutsche Bank AG initiated coverage on MKS Instruments in a report on Wednesday, July 5th. They issued a “buy” rating and a $84.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating on shares of MKS Instruments in a report on Sunday. Finally, KeyCorp reissued an “outperform” rating and issued a $100.00 target price on shares of MKS Instruments in a research note on Saturday, September 16th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $86.67.
MKS Instruments, Inc. (MKSI) traded up 1.11% during midday trading on Wednesday, reaching $95.45. The company had a trading volume of 94,411 shares. MKS Instruments, Inc. has a 12-month low of $46.51 and a 12-month high of $96.65. The stock’s 50 day moving average is $85.55 and its 200 day moving average is $78.22. The firm has a market capitalization of $5.18 billion, a price-to-earnings ratio of 19.83 and a beta of 1.13.
MKS Instruments (NASDAQ:MKSI) last posted its earnings results on Tuesday, July 25th. The scientific and technical instruments company reported $1.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.41. MKS Instruments had a net margin of 15.47% and a return on equity of 19.47%. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $463.86 million. During the same quarter last year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 47.6% compared to the same quarter last year. Equities research analysts expect that MKS Instruments, Inc. will post $5.42 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $0.70 dividend on an annualized basis and a yield of 0.74%. MKS Instruments’s dividend payout ratio (DPR) is currently 14.58%.
MKS Instruments Profile
MKS Instruments, Inc is a global provider of instruments, subsystems and process control solutions that measures, controls, powers, delivers, monitors and analyzes critical parameters of advanced manufacturing processes. The Company operates through two segments, including the Vacuum & Analysis segment and the Light & Motion segment.
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