Corebridge Financial Inc. Reduces Stock Holdings in MKS Instruments, Inc. (NASDAQ:MKSI)

Corebridge Financial Inc. cut its holdings in MKS Instruments, Inc. (NASDAQ:MKSI) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,193 shares of the scientific and technical instruments company’s stock after selling 3,422 shares during the period. Corebridge Financial Inc.’s holdings in MKS Instruments were worth $7,954,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in MKS Instruments by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 7,445,956 shares of the scientific and technical instruments company’s stock worth $777,283,000 after acquiring an additional 97,392 shares during the last quarter. LPL Financial LLC raised its position in shares of MKS Instruments by 8.6% during the 4th quarter. LPL Financial LLC now owns 25,145 shares of the scientific and technical instruments company’s stock worth $2,625,000 after purchasing an additional 1,992 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in MKS Instruments in the 4th quarter valued at approximately $1,441,000. Sei Investments Co. lifted its stake in MKS Instruments by 32.1% in the 4th quarter. Sei Investments Co. now owns 151,025 shares of the scientific and technical instruments company’s stock valued at $15,766,000 after buying an additional 36,721 shares in the last quarter. Finally, Summit Global Investments acquired a new stake in MKS Instruments during the 4th quarter valued at $1,254,000. 99.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MKS Instruments news, Director Elizabeth Mora sold 275 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.46, for a total transaction of $25,426.50. Following the completion of the sale, the director now directly owns 17,384 shares in the company, valued at $1,607,324.64. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerard G. Colella sold 8,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.53, for a total transaction of $836,240.00. Following the completion of the transaction, the director now directly owns 60,017 shares in the company, valued at approximately $6,273,577.01. This represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

MKS Instruments Stock Down 3.2 %

Shares of MKSI opened at $84.82 on Friday. MKS Instruments, Inc. has a fifty-two week low of $76.37 and a fifty-two week high of $147.40. The company’s fifty day moving average is $100.12 and its two-hundred day moving average is $105.66. The firm has a market cap of $5.72 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.75. The company has a quick ratio of 2.04, a current ratio of 3.19 and a debt-to-equity ratio of 1.93.

MKS Instruments (NASDAQ:MKSI) last issued its earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.23. MKS Instruments had a return on equity of 18.94% and a net margin of 5.30%. Analysts forecast that MKS Instruments, Inc. will post 6.94 earnings per share for the current year.

MKS Instruments Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Monday, February 24th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, February 24th. MKS Instruments’s payout ratio is currently 31.43%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MKSI shares. Morgan Stanley cut their price target on MKS Instruments from $150.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, February 14th. The Goldman Sachs Group boosted their target price on shares of MKS Instruments from $128.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC decreased their price target on shares of MKS Instruments from $156.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Benchmark cut their price objective on shares of MKS Instruments from $142.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $140.00 target price on shares of MKS Instruments in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.08.

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.