CENTRAL TRUST Co decreased its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 47.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 834 shares of the medical instruments supplier’s stock after selling 755 shares during the quarter. CENTRAL TRUST Co’s holdings in Mettler-Toledo International were worth $508,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MTD. Captrust Financial Advisors increased its stake in Mettler-Toledo International by 306.7% in the 2nd quarter. Captrust Financial Advisors now owns 183 shares of the medical instruments supplier’s stock valued at $106,000 after buying an additional 138 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in Mettler-Toledo International by 7,233.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 220 shares of the medical instruments supplier’s stock valued at $127,000 after buying an additional 217 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Mettler-Toledo International in the 2nd quarter valued at about $167,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Mettler-Toledo International by 142.3% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 378 shares of the medical instruments supplier’s stock valued at $219,000 after buying an additional 222 shares during the last quarter. Finally, Gideon Capital Advisors Inc. purchased a new stake in Mettler-Toledo International in the 1st quarter valued at about $233,000. 92.93% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Robert F. Spoerry sold 1,836 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $600.00, for a total value of $1,101,600.00. Following the completion of the transaction, the director now directly owns 7,423 shares in the company, valued at approximately $4,453,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider La Guerroniere Marc De sold 4,609 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 30th. The shares were sold at an average price of $580.37, for a total transaction of $2,674,925.33. Following the completion of the transaction, the insider now owns 4,609 shares of the company’s stock, valued at $2,674,925.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,358 shares of company stock valued at $10,744,204. 4.80% of the stock is currently owned by company insiders.
Several research firms have commented on MTD. Morgan Stanley decreased their price objective on shares of Mettler-Toledo International from $540.00 to $529.00 and set an “equal weight” rating for the company in a research note on Friday, July 27th. JPMorgan Chase & Co. increased their price objective on shares of Mettler-Toledo International from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Mettler-Toledo International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Mettler-Toledo International presently has a consensus rating of “Hold” and a consensus target price of $619.10.
Shares of MTD stock opened at $603.98 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.46 and a debt-to-equity ratio of 1.92. Mettler-Toledo International Inc. has a 12-month low of $540.24 and a 12-month high of $697.26. The company has a market cap of $15.35 billion, a PE ratio of 34.38, a P/E/G ratio of 2.34 and a beta of 1.08.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $4.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.58 by $0.07. Mettler-Toledo International had a net margin of 13.52% and a return on equity of 90.80%. The company had revenue of $722.00 million during the quarter, compared to analyst estimates of $715.69 million. During the same quarter last year, the business posted $3.92 EPS. Mettler-Toledo International’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts forecast that Mettler-Toledo International Inc. will post 20.15 earnings per share for the current fiscal year.
About Mettler-Toledo International
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.
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