Cornercap Investment Counsel Inc. Sells 1,530 Shares of MKS Instruments, Inc. (NASDAQ:MKSI)

Cornercap Investment Counsel Inc. reduced its stake in shares of MKS Instruments, Inc. (NASDAQ:MKSI) by 25.8% in the third quarter, Holdings Channel reports. The fund owned 4,398 shares of the scientific and technical instruments company’s stock after selling 1,530 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in MKS Instruments were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of MKS Instruments during the 1st quarter valued at approximately $25,000. ProShare Advisors LLC lifted its stake in shares of MKS Instruments by 22.7% during the 1st quarter. ProShare Advisors LLC now owns 10,694 shares of the scientific and technical instruments company’s stock valued at $1,422,000 after buying an additional 1,980 shares in the last quarter. Bessemer Group Inc. lifted its stake in MKS Instruments by 7.1% in the 1st quarter. Bessemer Group Inc. now owns 78,093 shares of the scientific and technical instruments company’s stock worth $10,387,000 after purchasing an additional 5,184 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in MKS Instruments by 0.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 46,575 shares of the scientific and technical instruments company’s stock worth $6,198,000 after purchasing an additional 369 shares in the last quarter. Finally, K2 Principal Fund L.P. purchased a new stake in MKS Instruments in the 1st quarter worth approximately $944,000. 99.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jacqueline F. Moloney sold 250 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $108.90, for a total value of $27,225.00. Following the completion of the sale, the director now directly owns 10,283 shares of the company’s stock, valued at approximately $1,119,818.70. This trade represents a 2.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elizabeth Mora sold 275 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $115.97, for a total transaction 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. This represents a 1.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

MKSI has been the topic of several recent analyst reports. Benchmark reiterated a “buy” rating and issued a $142.00 target price on shares of MKS Instruments in a research note on Thursday, August 8th. Citigroup cut shares of MKS Instruments from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $145.00 to $120.00 in a research note on Monday, September 16th. Needham & Company LLC increased their target price on shares of MKS Instruments from $153.00 to $156.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. The Goldman Sachs Group started coverage on shares of MKS Instruments in a research report on Tuesday, September 3rd. They set a “neutral” rating and a $129.00 price objective on the stock. Finally, Mizuho upgraded shares of MKS Instruments to a “strong-buy” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.09.

MKS Instruments Price Performance

MKSI stock opened at $105.48 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.21 and a current ratio of 3.42. MKS Instruments, Inc. has a 52 week low of $75.07 and a 52 week high of $147.40. The firm’s fifty day moving average is $106.81 and its 200 day moving average is $118.81. The firm has a market cap of $7.10 billion, a P/E ratio of 234.40, a P/E/G ratio of 0.66 and a beta of 1.63.

MKS Instruments (NASDAQ:MKSI) last released its earnings results on Wednesday, November 6th. The scientific and technical instruments company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.45 by $0.27. MKS Instruments had a net margin of 0.90% and a return on equity of 15.79%. The company had revenue of $896.00 million for the quarter, compared to analyst estimates of $874.29 million. During the same quarter last year, the firm earned $1.46 EPS. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts predict that MKS Instruments, Inc. will post 6.22 earnings per share for the current year.

MKS Instruments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Monday, November 25th. MKS Instruments’s dividend payout ratio (DPR) is presently 195.56%.

MKS Instruments 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.