Principal Financial Group Inc. Sells 56,588 Shares of MKS Instruments, Inc. (NASDAQ:MKSI)

Principal Financial Group Inc. reduced its position in shares of MKS Instruments, Inc. (NASDAQ:MKSI - Free Report) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 837,695 shares of the scientific and technical instruments company's stock after selling 56,588 shares during the period. Principal Financial Group Inc. owned about 1.25% of MKS Instruments worth $91,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of MKS Instruments in the first quarter worth about $25,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of MKS Instruments by 196.9% in the third quarter. Massmutual Trust Co. FSB ADV now owns 288 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 191 shares in the last quarter. UMB Bank n.a. raised its position in MKS Instruments by 53.7% in the 3rd quarter. UMB Bank n.a. now owns 349 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 122 shares during the last quarter. Key Financial Inc acquired a new position in MKS Instruments during the 2nd quarter worth $39,000. Finally, BOKF NA bought a new position in MKS Instruments in the 2nd quarter valued at $39,000. 99.79% of the stock is currently owned by institutional investors and hedge funds.

MKS Instruments Stock Up 0.6 %

MKSI traded up $0.65 during trading on Friday, reaching $116.29. The company had a trading volume of 796,253 shares, compared to its average volume of 869,968. The business's fifty day moving average price is $106.63 and its 200 day moving average price is $119.01. The company has a debt-to-equity ratio of 2.16, a current ratio of 3.58 and a quick ratio of 2.31. MKS Instruments, Inc. has a 12 month low of $67.57 and a 12 month high of $147.40. The company has a market cap of $7.83 billion, a P/E ratio of 258.42, a PEG ratio of 0.72 and a beta of 1.63.

MKS Instruments (NASDAQ:MKSI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.30. MKS Instruments had a net margin of 0.90% and a return on equity of 15.82%. The firm had revenue of $896.00 million during the quarter, compared to analyst estimates of $874.29 million. During the same period in the prior year, the business earned $1.46 EPS. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts anticipate that MKS Instruments, Inc. will post 5.61 EPS for the current year.

MKS Instruments Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.88 annualized dividend and a dividend yield of 0.76%. MKS Instruments's dividend payout ratio is currently 195.56%.

Insider Activity

In related news, EVP John Edward Williams sold 1,800 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $118.71, for a total transaction of $213,678.00. Following the completion of the transaction, the executive vice president now owns 13 shares in the company, valued at approximately $1,543.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other MKS Instruments news, Director Jacqueline F. Moloney sold 250 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $108.90, for a total transaction of $27,225.00. Following the transaction, the director now owns 10,283 shares of the company's stock, valued at $1,119,818.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Edward Williams sold 1,800 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $118.71, for a total value of $213,678.00. Following the completion of the sale, the executive vice president now directly owns 13 shares of the company's stock, valued at approximately $1,543.23. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,325 shares of company stock worth $272,795 over the last ninety days. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

MKSI has been the subject of several analyst reports. Mizuho upgraded shares of MKS Instruments to a "strong-buy" rating in a research report on Monday, October 7th. Benchmark reiterated a "buy" rating and set a $142.00 target price on shares of MKS Instruments in a research report on Thursday, August 8th. Cantor Fitzgerald initiated coverage on MKS Instruments in a research report on Tuesday, September 10th. They issued an "overweight" rating and a $140.00 price target on the stock. Citigroup downgraded MKS Instruments from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $145.00 to $120.00 in a report on Monday, September 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on MKS Instruments from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MKS Instruments presently has a consensus rating of "Moderate Buy" and an average price target of $141.09.

MKS Instruments 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.