World Asset Management Inc decreased its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 12.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,532 shares of the medical instruments supplier’s stock after selling 349 shares during the period. World Asset Management Inc’s holdings in Mettler-Toledo International were worth $1,490,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Israel Discount Bank of New York bought a new position in shares of Mettler-Toledo International during the first quarter valued at about $102,000. YorkBridge Wealth Partners LLC raised its position in shares of Mettler-Toledo International by 11.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 222 shares of the medical instruments supplier’s stock valued at $115,000 after buying an additional 22 shares in the last quarter. TLP Group LLC acquired a new position in Mettler-Toledo International during the first quarter worth $144,000. Penserra Capital Management LLC raised its position in Mettler-Toledo International by 9.5% in the first quarter. Penserra Capital Management LLC now owns 414 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 36 shares during the period. Finally, Fernwood Investment Management LLC acquired a new position in Mettler-Toledo International during the first quarter worth $204,000. Institutional investors own 96.22% of the company’s stock.
Mettler-Toledo International, Inc. (NYSE:MTD) traded up 1.11% during trading on Friday, hitting $577.58. 141,233 shares of the stock traded hands. Mettler-Toledo International, Inc. has a 52-week low of $386.01 and a 52-week high of $618.13. The firm 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 cap of $14.83 billion, a P/E ratio of 35.52 and a beta of 1.13.
Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 EPS for the quarter, topping the Zacks’ consensus estimate of $3.89 by $0.03. Mettler-Toledo International had a return on equity of 95.28% and a net margin of 16.60%. The firm had revenue of $653.70 million during the quarter, compared to the consensus estimate of $646.68 million. During the same quarter in the previous year, the company posted $3.22 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities analysts expect that Mettler-Toledo International, Inc. will post $16.89 EPS for the current year.
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A number of research firms have weighed in on MTD. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $665.00 price objective on the stock in a research note on Wednesday, June 7th. Cleveland Research raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 19th. BidaskClub raised shares of Mettler-Toledo International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and set a $550.00 price target on shares of Mettler-Toledo International in a research report on Thursday, July 27th. Finally, Wells Fargo & Company upgraded shares of Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $569.80.
In related news, CFO Shawn Vadala sold 330 shares of Mettler-Toledo International stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $577.00, for a total transaction of $190,410.00. Following the completion of the sale, the chief financial officer now owns 5,855 shares of the company’s stock, valued at $3,378,335. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Caratsch sold 150 shares of Mettler-Toledo International stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $578.00, for a total value of $86,700.00. Following the sale, the insider now directly owns 920 shares of the company’s stock, valued at approximately $531,760. 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 ninety days. Corporate 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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