Harvey Investment Co. LLC decreased its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 0.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 24,311 shares of the company’s stock after selling 75 shares during the period. Mettler-Toledo International accounts for 1.9% of Harvey Investment Co. LLC’s portfolio, making the stock its 21st largest position. Harvey Investment Co. LLC’s holdings in Mettler-Toledo International were worth $8,872,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of MTD. Checchi Capital Advisers LLC boosted its stake in 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 during the last quarter. Meeder Asset Management Inc. purchased a new stake in Mettler-Toledo International during the second quarter valued at about $138,000. Private Trust Co. NA boosted its stake in Mettler-Toledo International by 53.7% in the second quarter. Private Trust Co. NA now owns 899 shares of the company’s stock valued at $328,000 after buying an additional 314 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Mettler-Toledo International by 53.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,000 shares of the company’s stock valued at $345,000 after buying an additional 350 shares during the last quarter. Finally, Eachwin Capital LP purchased a new stake in Mettler-Toledo International during the first quarter valued at about $484,000. Hedge funds and other institutional investors own 96.62% of the company’s stock.
Mettler-Toledo International Inc. (NYSE:MTD) traded up 0.30% during mid-day trading on Wednesday, hitting $417.08. 117,941 shares of the stock traded hands. The stock’s 50 day moving average is $405.25 and its 200-day moving average is $379.34. Mettler-Toledo International Inc. has a 12 month low of $282.05 and a 12 month high of $421.24. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 32.21 and a beta of 1.16.
Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.09. The firm earned $608.28 million during the quarter, compared to analysts’ expectations of $598.20 million. Mettler-Toledo International had a net margin of 14.74% and a return on equity of 68.23%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 earnings per share. On average, equities research analysts anticipate that Mettler-Toledo International Inc. will post $14.45 EPS for the current year.
Several equities research analysts recently issued reports on the company. Citigroup Inc. cut Mettler-Toledo International from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $382.00 to $400.00 in a report on Thursday, June 23rd. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Bank of America Corp. upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $404.33 to $470.00 in a report on Wednesday, August 31st. Finally, JPMorgan Chase & Co. boosted their target price on Mettler-Toledo International from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $378.38.
In related news, insider Thomas Caratsch sold 700 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $412.50, for a total transaction of $288,750.00. Following the completion of the transaction, the insider now directly owns 1,470 shares of the company’s stock, valued at $606,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas P. Salice sold 460 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $414.03, for a total transaction of $190,453.80. Following the transaction, the director now directly owns 32,578 shares of the company’s stock, valued at $13,488,269.34. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
About Mettler-Toledo International
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.
Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International Inc. (NYSE:MTD).
Receive News & Ratings for Mettler-Toledo International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mettler-Toledo International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.