Reliance Trust Co. of Delaware decreased its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 927 shares of the medical instruments supplier’s stock after selling 33 shares during the period. Reliance Trust Co. of Delaware’s holdings in Mettler-Toledo International were worth $546,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of MTD. Quadrature Capital Ltd boosted its position in shares of Mettler-Toledo International by 167.1% in the fourth quarter. Quadrature Capital Ltd now owns 3,400 shares of the medical instruments supplier’s stock worth $1,424,000 after buying an additional 2,127 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Mettler-Toledo International by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 37,697 shares of the medical instruments supplier’s stock worth $15,778,000 after buying an additional 2,672 shares during the period. Kentucky Retirement Systems purchased a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $797,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Mettler-Toledo International during the fourth quarter worth about $356,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Mettler-Toledo International by 31.8% in the fourth quarter. Macquarie Group Ltd. now owns 6,590 shares of the medical instruments supplier’s stock worth $2,757,000 after buying an additional 1,590 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.
Mettler-Toledo International, Inc. (NYSE MTD) traded up 1.11% during mid-day trading on Friday, hitting $577.58. 141,233 shares of the stock were exchanged. The stock has a 50 day moving average price of $591.25 and a 200 day moving average price of $529.09. The company has a market capitalization of $14.83 billion, a PE ratio of 35.52 and a beta of 1.13. Mettler-Toledo International, Inc. has a 1-year low of $386.01 and a 1-year high of $618.13.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.03. The business had revenue of $653.70 million during the quarter, compared to analysts’ expectations of $646.68 million. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.22 earnings per share. On average, equities analysts anticipate that Mettler-Toledo International, Inc. will post $16.89 earnings per share for the current fiscal year.
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Several equities research analysts have weighed in on the stock. Jefferies Group LLC restated a “hold” rating and issued a $550.00 price objective on shares of Mettler-Toledo International in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $664.00 target price on the stock in a research note on Thursday, June 22nd. Bank of America Corporation raised their target price on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Cleveland Research raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 19th. Finally, BidaskClub raised shares of Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $569.80.
In other news, Director Robert F. Spoerry sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $555.78, for a total value of $2,778,900.00. Following the completion of the sale, the director now directly owns 9,656 shares of the company’s stock, valued at approximately $5,366,611.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Shawn Vadala sold 330 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $577.00, for a total value of $190,410.00. Following the completion of the sale, the chief financial officer now directly owns 5,855 shares of the company’s stock, valued at $3,378,335. The disclosure for this sale can be found here. Insiders have sold 23,996 shares of company stock valued at $13,673,195 in the last quarter. 5.20% of the stock is currently owned by company insiders.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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