Korea Investment CORP Makes New $2.03 Million Investment in Mettler-Toledo International, Inc. $MTD

Korea Investment CORP acquired a new stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,589 shares of the medical instruments supplier’s stock, valued at approximately $2,030,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Mettler-Toledo International in the second quarter valued at about $2,404,713,000. Capital International Investors grew its stake in shares of Mettler-Toledo International by 12.7% during the fourth quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier’s stock worth $1,351,064,000 after acquiring an additional 109,508 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Mettler-Toledo International by 0.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier’s stock valued at $964,174,000 after acquiring an additional 3,157 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Mettler-Toledo International by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier’s stock valued at $830,879,000 after acquiring an additional 14,106 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Mettler-Toledo International in the 2nd quarter valued at approximately $762,553,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Transactions at Mettler-Toledo International

In related news, Director Thomas P. Salice sold 417 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total transaction of $600,650.97. Following the sale, the director directly owned 292 shares of the company’s stock, valued at $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Vadala sold 2,240 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the sale, the chief financial officer directly owned 5,579 shares in the company, valued at approximately $7,989,128. This trade represents a 28.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,312 shares of company stock worth $4,750,362 over the last quarter. 0.71% of the stock is currently owned by insiders.

Mettler-Toledo International Trading Up 0.3%

Shares of Mettler-Toledo International stock opened at $1,399.02 on Tuesday. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The firm has a fifty day moving average price of $1,324.55 and a 200 day moving average price of $1,273.73. Mettler-Toledo International, Inc. has a 1 year low of $1,023.05 and a 1 year high of $1,525.17. The stock has a market cap of $28.04 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.87 and a beta of 1.23.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, beating the consensus estimate of $10.78 by $0.68. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $10.09 earnings per share. Equities research analysts predict that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Barclays boosted their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Robert W. Baird reduced their target price on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their price target on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings raised Mettler-Toledo International from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1,461.27.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.