Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 49,703 Mettler-Toledo International, Inc. $MTD

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 49,703 shares of the medical instruments supplier’s stock, valued at approximately $63,496,000.

A number of other large investors have also recently modified their holdings of MTD. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Mettler-Toledo International during the 1st quarter worth $26,372,000. M&T Bank Corp boosted its stake in Mettler-Toledo International by 2,813.6% in the fourth quarter. M&T Bank Corp now owns 124,205 shares of the medical instruments supplier’s stock valued at $173,165,000 after buying an additional 119,942 shares in the last quarter. Strs Ohio grew its position in Mettler-Toledo International by 2,594.8% in the fourth quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier’s stock valued at $18,672,000 after acquiring an additional 12,896 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Mettler-Toledo International by 34.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 4,150 shares of the medical instruments supplier’s stock worth $5,786,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Mettler-Toledo International by 377.3% during the first quarter. Fifth Third Bancorp now owns 4,181 shares of the medical instruments supplier’s stock worth $5,272,000 after acquiring an additional 3,305 shares in the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Wolfe Research assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 2nd. They set a “peer perform” rating for the company. Wall Street Zen downgraded shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Mettler-Toledo International from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group boosted their target price on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $1,461.27.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, CFO Shawn Vadala sold 2,240 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the completion of the transaction, the chief financial officer directly owned 5,579 shares in the company, valued at approximately $7,989,128. This represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerry Keller sold 240 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the transaction, the insider owned 259 shares of the company’s stock, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,312 shares of company stock worth $4,750,362 in the last quarter. 0.71% of the stock is owned by insiders.

Mettler-Toledo International Price Performance

Shares of MTD opened at $1,424.86 on Thursday. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The stock has a market cap of $28.55 billion, a PE ratio of 32.07, a PEG ratio of 2.88 and a beta of 1.23. Mettler-Toledo International, Inc. has a 12-month low of $1,023.05 and a 12-month high of $1,525.17. The business has a 50-day simple moving average of $1,309.30 and a two-hundred day simple moving average of $1,273.33.

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

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.