Arizona State Retirement System reduced its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 45.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the company’s stock after selling 5,460 shares during the period. Arizona State Retirement System’s holdings in Mettler-Toledo International were worth $2,729,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in MTD. Checchi Capital Advisers LLC raised its stake in shares of Mettler-Toledo International by 3.3% in the second quarter. Checchi Capital Advisers LLC now owns 316 shares of the company’s stock valued at $115,000 after buying an additional 10 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Mettler-Toledo International by 26.0% in the second quarter. Van ECK Associates Corp now owns 344 shares of the company’s stock valued at $126,000 after buying an additional 71 shares in the last quarter. MSI Financial Services Inc raised its stake in shares of Mettler-Toledo International by 16.2% in the third quarter. MSI Financial Services Inc now owns 301 shares of the company’s stock valued at $126,000 after buying an additional 42 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Mettler-Toledo International during the second quarter valued at approximately $138,000. Finally, Argentus Capital Management LLC bought a new stake in shares of Mettler-Toledo International during the third quarter valued at approximately $146,000. 97.57% of the stock is currently owned by institutional investors and hedge funds.
Mettler-Toledo International Inc. (NYSE:MTD) traded down 0.17% during trading on Friday, reaching $419.15. The company’s stock had a trading volume of 74,314 shares. The stock has a market cap of $11.00 billion, a P/E ratio of 30.94 and a beta of 1.24. The company’s 50 day moving average price is $413.40 and its 200-day moving average price is $394.75. Mettler-Toledo International Inc. has a 1-year low of $291.33 and a 1-year high of $434.50.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 3rd. The company reported $3.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.66 by $0.23. The company had revenue of $650.60 million for the quarter, compared to analyst estimates of $627.37 million. Mettler-Toledo International had a return on equity of 73.43% and a net margin of 14.97%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.26 earnings per share. Equities analysts forecast that Mettler-Toledo International Inc. will post $14.65 earnings per share for the current fiscal year.
Several brokerages recently commented on MTD. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $470.00 price target on the stock in a research note on Tuesday, November 15th. Bank of America Corp. raised Mettler-Toledo International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $404.33 to $470.00 in a research note on Wednesday, August 31st. Finally, JPMorgan Chase & Co. boosted their price target on Mettler-Toledo International from $350.00 to $400.00 and gave the company a “neutral” rating in a research note on Friday, July 29th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $392.29.
In other Mettler-Toledo International news, insider William P. Donnelly sold 30,067 shares of the firm’s stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $427.88, for a total transaction of $12,865,067.96. Following the transaction, the insider now owns 21,000 shares in the company, valued at approximately $8,985,480. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert F. Spoerry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $425.00, for a total value of $1,275,000.00. Following the transaction, the director now owns 8,587 shares in the company, valued at approximately $3,649,475. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.
Mettler-Toledo International Company Profile
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company is a provider of weighing instruments for use in laboratory, industrial and food retailing applications. The Company is also a provider of analytical instruments for use in life science, reaction engineering and real-time analytic systems used in drug and chemical compound development and process analytics instruments used for in-line measurement in production processes.