TD Asset Management Inc. trimmed its position in Mettler-Toledo International Inc. (NYSE:MTD) by 11.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,251 shares of the medical instruments supplier’s stock after selling 5,860 shares during the quarter. TD Asset Management Inc. owned 0.20% of Mettler-Toledo International worth $45,633,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. WCM Investment Management LLC grew its position in Mettler-Toledo International by 3.3% in the third quarter. WCM Investment Management LLC now owns 1,356,013 shares of the medical instruments supplier’s stock valued at $1,309,570,000 after acquiring an additional 43,143 shares during the period. Goldman Sachs Group Inc. grew its position in Mettler-Toledo International by 24.2% in the second quarter. Goldman Sachs Group Inc. now owns 215,212 shares of the medical instruments supplier’s stock valued at $173,364,000 after acquiring an additional 41,925 shares during the period. Bank of Montreal Can grew its position in Mettler-Toledo International by 17.8% in the second quarter. Bank of Montreal Can now owns 131,002 shares of the medical instruments supplier’s stock valued at $108,801,000 after acquiring an additional 19,802 shares during the period. Acadian Asset Management LLC grew its position in Mettler-Toledo International by 8.3% in the third quarter. Acadian Asset Management LLC now owns 130,860 shares of the medical instruments supplier’s stock valued at $126,380,000 after acquiring an additional 10,068 shares during the period. Finally, Chilton Investment Co. LLC grew its position in Mettler-Toledo International by 0.9% in the third quarter. Chilton Investment Co. LLC now owns 121,754 shares of the medical instruments supplier’s stock valued at $117,584,000 after acquiring an additional 1,038 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.
In other Mettler-Toledo International news, insider Gerry Keller sold 388 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $1,182.48, for a total value of $458,802.24. Following the transaction, the insider now owns 607 shares of the company’s stock, valued at $717,765.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Shawn Vadala sold 1,114 shares of the stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $1,182.48, for a total value of $1,317,282.72. Following the completion of the transaction, the chief financial officer now directly owns 5,231 shares in the company, valued at approximately $6,185,552.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,004 shares of company stock worth $3,552,170. 3.20% of the stock is owned by company insiders.
Shares of MTD stock opened at $1,147.60 on Friday. The stock’s fifty day moving average is $1,064.00 and its 200-day moving average is $914.32. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.98 and a current ratio of 1.41. The stock has a market capitalization of $27.31 billion, a PE ratio of 48.28, a PEG ratio of 4.48 and a beta of 1.02. Mettler-Toledo International Inc. has a 52 week low of $579.40 and a 52 week high of $1,228.41.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, November 5th. The medical instruments supplier reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.02 by $1.00. The business had revenue of $807.36 million for the quarter, compared to analysts’ expectations of $749.04 million. Mettler-Toledo International had a return on equity of 138.77% and a net margin of 18.61%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $5.77 earnings per share. As a group, analysts forecast that Mettler-Toledo International Inc. will post 23.25 earnings per share for the current fiscal year.
A number of brokerages have weighed in on MTD. UBS Group cut Mettler-Toledo International from a “neutral” rating to a “sell” rating and upped their price target for the company from $770.00 to $880.00 in a research report on Wednesday, October 7th. Wells Fargo & Company reiterated a “hold” rating on shares of Mettler-Toledo International in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut Mettler-Toledo International from a “neutral” rating to an “underweight” rating and set a $880.00 price target on the stock. in a research report on Monday, September 28th. Five investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Mettler-Toledo International presently has a consensus rating of “Hold” and a consensus target price of $756.55.
About Mettler-Toledo International
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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