PNC Financial Services Group Inc. grew its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 18.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,158 shares of the medical instruments supplier’s stock after purchasing an additional 810 shares during the period. PNC Financial Services Group Inc.’s holdings in Mettler-Toledo International were worth $3,142,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. WCM Investment Management CA grew its stake in shares of Mettler-Toledo International by 55.6% in the 3rd quarter. WCM Investment Management CA now owns 1,417,856 shares of the medical instruments supplier’s stock valued at $863,447,000 after buying an additional 506,729 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mettler-Toledo International by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 363,632 shares of the medical instruments supplier’s stock valued at $221,445,000 after buying an additional 42,392 shares in the last quarter. Select Equity Group L.P. grew its stake in shares of Mettler-Toledo International by 19.5% in the 2nd quarter. Select Equity Group L.P. now owns 200,210 shares of the medical instruments supplier’s stock valued at $115,848,000 after buying an additional 32,648 shares in the last quarter. Putnam Investments LLC grew its stake in shares of Mettler-Toledo International by 23.2% in the 2nd quarter. Putnam Investments LLC now owns 186,390 shares of the medical instruments supplier’s stock valued at $107,851,000 after buying an additional 35,046 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its stake in shares of Mettler-Toledo International by 0.4% in the 3rd quarter. Congress Asset Management Co. MA now owns 147,628 shares of the medical instruments supplier’s stock valued at $89,902,000 after buying an additional 518 shares in the last quarter. Institutional investors own 93.80% of the company’s stock.
In other news, insider La Guerroniere Marc De sold 740 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $600.00, for a total transaction of $444,000.00. Following the completion of the transaction, the insider now directly owns 740 shares in the company, valued at $444,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hans Ulrich Maerki sold 2,600 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $650.00, for a total value of $1,690,000.00. Following the transaction, the director now owns 9,487 shares of the company’s stock, valued at $6,166,550. The disclosure for this sale can be found here. Insiders have sold 31,871 shares of company stock valued at $19,575,275 in the last ninety days. Company insiders own 4.80% of the company’s stock.
MTD has been the subject of several recent research reports. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. ValuEngine raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. Morgan Stanley upped their target price on Mettler-Toledo International from $529.00 to $572.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 10th. Finally, UBS Group assumed coverage on Mettler-Toledo International in a research report on Tuesday, October 9th. They set a “neutral” rating and a $625.00 target price for the company. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $624.00.
Shares of Mettler-Toledo International stock opened at $590.78 on Friday. The company has a market cap of $15.28 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 2.37 and a beta of 1.20. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.39 and a quick ratio of 1.00. Mettler-Toledo International Inc. has a 12-month low of $521.79 and a 12-month high of $697.26.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 8th. The medical instruments supplier reported $5.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.99 by $0.13. The firm had revenue of $734.85 million during the quarter, compared to analysts’ expectations of $738.23 million. Mettler-Toledo International had a return on equity of 93.15% and a net margin of 14.10%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.36 earnings per share. As a group, equities analysts predict that Mettler-Toledo International Inc. will post 20.23 EPS for the current fiscal year.
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Mettler-Toledo International Company Profile
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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