MKS Instruments, Inc. (NASDAQ:MKSI), the scientific and technical instruments company, had its holdings reduced by PNC Financial Services Group Inc. in the 4th quarter of 2016 by 31.9%, according to recent filings with the Securities and Exchange Commission (SEC). The financial giant now owns just under 9,112 shares of MKS Instruments stock after selling 4,273 shares during the period, valued at $772k as of its latest filing with the SEC.
The Boston-based business announced a quarterly dividend of $0.22 per share this week which is due to be paid on June 9th to shareholders on record as of May 30th; consequently individuals that invest prior to May 26th will be eligible for such dividends representing an annual yield of 0.89%.
Several equities research analysts have also recently weighed in on the stock with Deutsche Bank Aktiengesellschaft pricing MKS Instruments’ stock at a target price of $100, but upholding a buy rating. Furthermore, some ratings respondents reported that there is an average “Moderate Buy” rating given by Bloomberg for MKS Instruments’ stock with an average target price set for it of $114.36.
Benchmark also dropped its price objective on shares from $125 to $115 and has maintained a “buy” rating for MKSI’s stock owing to its considerable market recognition in sectors such as industrial technology and health science applications – especially where there are components required that relate to advanced process control systems using motion detection technologies.
In summary, despite recent reductions in PNC Financial Services’ stake in this scientific technology enterprise, positive outlooks conveyed by equities research analysts suggest that there is notable potential for growth amongst healthy pre-existing infrastructure within MkS Technologies especially with regards to automated flow control procedures involving microelectronics production lines or transducers used for determining material characteristics such as tensile strength, yield strength, and elongation properties.
Institutional Investors and Hedge Funds Modify Holdings in MKS Instruments while Major Shareholder Sells Shares
MKS Instruments, a leading provider of scientific and technical instruments, has recently seen a number of institutional investors and hedge funds modify their holdings in the company. In the fourth quarter, Fifth Third Bancorp increased its position in MKS by 257.4%, while Itau Unibanco Holding S.A. bought a new stake in the company worth $98,000. Other companies including Covestor Ltd, Quadrant Capital Group LLC and US Asset Management LLC have also increased their positions in MKS.
Despite this increase in ownership by institutional investors and hedge funds, major shareholder Carlyle Partners Vi Cayman Hol recently sold 2 million shares of the company’s stock at an average price of $86.12 on May 8th. Following the sale, Carlyle now owns just over 6.4 million shares in the company.
MKS Instruments also recently disclosed a quarterly dividend that will be paid on June 9th to shareholders of record on May 30th. The dividend payout ratio for MKS is presently at 34.11%.
Shares of NASDAQ:MKSI opened at $99.15 on Friday with a market cap of $6.62 billion and a PE ratio of 38.43. The company’s recent earnings report showed revenue of $794 million for Q1 compared to the consensus estimate of $769.85 million.
Overall, it seems that despite some fluctuations due to insider selling and changes in institutional investor positions, MKS Instruments continues to perform well as a leader in scientific and technical instruments within the industry.
Source: beststocks.com
