Granite Investment Partners LLC Lowers Stock Holdings in MKS Instruments, Inc. (NASDAQ:MKSI)

Granite Investment Partners LLC lowered its position in shares of MKS Instruments, Inc. (NASDAQ:MKSI) by 50.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 34,126 shares of the scientific and technical instruments company’s stock after selling 34,200 shares during the period. Granite Investment Partners LLC’s holdings in MKS Instruments were worth $4,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MKSI. Cornerstone Investment Partners LLC boosted its stake in MKS Instruments by 2.9% during the first quarter. Cornerstone Investment Partners LLC now owns 3,574 shares of the scientific and technical instruments company’s stock valued at $475,000 after buying an additional 100 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of MKS Instruments by 62.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 309 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 119 shares in the last quarter. Verity Asset Management Inc. increased its position in shares of MKS Instruments by 6.3% in the first quarter. Verity Asset Management Inc. now owns 2,085 shares of the scientific and technical instruments company’s stock worth $277,000 after purchasing an additional 124 shares during the last quarter. CWM LLC raised its stake in MKS Instruments by 23.0% in the second quarter. CWM LLC now owns 937 shares of the scientific and technical instruments company’s stock valued at $122,000 after purchasing an additional 175 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in MKS Instruments by 0.4% during the second quarter. GHP Investment Advisors Inc. now owns 46,864 shares of the scientific and technical instruments company’s stock valued at $6,119,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 99.79% of the company’s stock.

MKS Instruments Stock Down 3.7 %

Shares of MKS Instruments stock opened at $109.88 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 2.31 and a current ratio of 3.58. MKS Instruments, Inc. has a 52-week low of $63.44 and a 52-week high of $147.40. The company’s 50 day moving average price is $117.35 and its 200-day moving average price is $123.90. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of -4.12, a P/E/G ratio of 0.79 and a beta of 1.64.

MKS Instruments (NASDAQ:MKSI) last announced its quarterly earnings results on Wednesday, August 7th. The scientific and technical instruments company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.51. MKS Instruments had a net margin of 0.25% and a return on equity of 14.91%. The business had revenue of $887.00 million for the quarter, compared to analyst estimates of $866.38 million. During the same quarter last year, the firm earned $1.32 EPS. The company’s revenue was down 11.6% on a year-over-year basis. Equities research analysts forecast that MKS Instruments, Inc. will post 5.6 EPS for the current year.

MKS Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 26th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, August 26th. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. MKS Instruments’s dividend payout ratio is presently -3.30%.

Insider Buying and Selling at MKS Instruments

In other news, Director Elizabeth Mora sold 275 shares of MKS Instruments stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $115.97, for a total value of $31,891.75. Following the sale, the director now directly owns 17,934 shares in the company, valued at approximately $2,079,805.98. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Elizabeth Mora sold 275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $115.97, for a total value of $31,891.75. Following the completion of the sale, the director now directly owns 17,934 shares of the company’s stock, valued at approximately $2,079,805.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jacqueline F. Moloney sold 250 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $123.46, for a total transaction of $30,865.00. Following the transaction, the director now owns 10,533 shares in the company, valued at approximately $1,300,404.18. The disclosure for this sale can be found here. Insiders sold 2,325 shares of company stock valued at $276,435 in the last 90 days. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MKSI. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MKS Instruments from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Citigroup cut MKS Instruments from a “buy” rating to a “neutral” rating and reduced their target price for the company from $145.00 to $120.00 in a research note on Monday, September 16th. The Goldman Sachs Group assumed coverage on MKS Instruments in a research note on Tuesday, September 3rd. They set a “neutral” rating and a $129.00 price target for the company. Needham & Company LLC increased their price objective on MKS Instruments from $153.00 to $156.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, KeyCorp raised their price objective on MKS Instruments from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, MKS Instruments presently has an average rating of “Moderate Buy” and an average target price of $142.00.

About MKS Instruments

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.