LS Investment Advisors LLC raised its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 34.3% during the second quarter, Holdings Channel reports. The fund owned 2,734 shares of the company’s stock after buying an additional 698 shares during the period. LS Investment Advisors LLC’s holdings in Mettler-Toledo International were worth $998,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in MTD. Private Trust Co. NA boosted its position 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. raised its stake in shares of 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 period. Eachwin Capital LP purchased a new stake in shares of Mettler-Toledo International during the first quarter valued at approximately $484,000. Eqis Capital Management Inc. raised its stake in shares of Mettler-Toledo International by 118.5% in the second quarter. Eqis Capital Management Inc. now owns 1,414 shares of the company’s stock valued at $516,000 after buying an additional 767 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in shares of Mettler-Toledo International during the first quarter valued at approximately $579,000. Institutional investors own 96.62% of the company’s stock.
Shares of Mettler-Toledo International Inc. (NYSE:MTD) traded down 2.84% on Tuesday, hitting $411.44. The company’s stock had a trading volume of 198,824 shares. Mettler-Toledo International Inc. has a 52 week low of $282.05 and a 52 week high of $424.13. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 31.77 and a beta of 1.16. The stock’s 50 day moving average is $407.01 and its 200-day moving average is $381.73.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.13 by $0.09. Mettler-Toledo International had a net margin of 14.74% and a return on equity of 68.23%. The company had revenue of $608.28 million for the quarter, compared to analyst estimates of $598.20 million. During the same quarter last year, the business earned $2.80 earnings per share. Mettler-Toledo International’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Mettler-Toledo International Inc. will post $14.45 earnings per share for the current year.
Several equities research analysts have recently commented on MTD shares. Bank of America Corp. raised Mettler-Toledo International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $404.33 to $470.00 in a research note on Wednesday, August 31st. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $431.00 price target on the stock in a research note on Friday, July 22nd. Citigroup Inc. lowered Mettler-Toledo International from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $382.00 to $400.00 in a research note on Thursday, June 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Mettler-Toledo International from $350.00 to $400.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $378.38.
In other Mettler-Toledo International news, insider Waldemar Rauch sold 3,042 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $410.56, for a total value of $1,248,923.52. Following the sale, the insider now owns 14,938 shares in the company, valued at $6,132,945.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian Magloth sold 1,285 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $406.40, for a total transaction of $522,224.00. Following the completion of the sale, the insider now owns 785 shares in the company, valued at approximately $319,024. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.
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.
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