Chevy Chase Trust Holdings Inc. reduced its position in Mettler-Toledo International, Inc. (NYSE:MTD) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,395 shares of the medical instruments supplier’s stock after selling 123 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Mettler-Toledo International worth $13,180,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Atria Investments LLC raised its position in Mettler-Toledo International by 12.2% in the first quarter. Atria Investments LLC now owns 1,139 shares of the medical instruments supplier’s stock worth $545,000 after buying an additional 124 shares during the period. Highland Capital Management LLC acquired a new stake in Mettler-Toledo International during the first quarter worth approximately $299,000. Legacy Private Trust Co. increased its stake in Mettler-Toledo International by 3.4% in the first quarter. Legacy Private Trust Co. now owns 10,049 shares of the medical instruments supplier’s stock worth $4,813,000 after buying an additional 327 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Mettler-Toledo International by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 8,168 shares of the medical instruments supplier’s stock worth $3,911,000 after buying an additional 110 shares in the last quarter. Finally, Creative Planning increased its stake in Mettler-Toledo International by 7.4% in the first quarter. Creative Planning now owns 1,151 shares of the medical instruments supplier’s stock worth $551,000 after buying an additional 79 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.
Mettler-Toledo International, Inc. (NYSE MTD) traded up 1.11% during mid-day trading on Friday, reaching $577.58. The company’s stock had a trading volume of 141,233 shares. The stock’s 50-day moving average is $591.77 and its 200-day moving average is $527.92. The firm 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 12 month low of $386.01 and a 12 month high of $618.13.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.03. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The firm had revenue of $653.70 million for the quarter, compared to analysts’ expectations of $646.68 million. During the same period last year, the firm earned $3.22 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts anticipate that Mettler-Toledo International, Inc. will post $16.89 EPS for the current year.
Several equities research analysts recently issued reports on MTD shares. Bank of America Corporation boosted their price objective on Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research downgraded Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, June 5th. Morgan Stanley restated an “equal weight” rating and set a $565.00 price target (up previously from $533.00) on shares of Mettler-Toledo International in a report on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and set a $550.00 price target on shares of Mettler-Toledo International in a report on Tuesday, June 20th. Finally, BidaskClub downgraded Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $569.80.
In related news, CFO Shawn Vadala sold 330 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $577.00, for a total transaction of $190,410.00. Following the sale, the chief financial officer now directly owns 5,855 shares in the company, valued at $3,378,335. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert F. Spoerry sold 5,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $555.78, for a total transaction of $2,778,900.00. Following the sale, the director now owns 9,656 shares in the company, valued at $5,366,611.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,996 shares of company stock worth $13,673,195. Company insiders own 5.20% of the company’s stock.
About Mettler-Toledo International
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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