OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 62.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the medical instruments supplier’s stock after acquiring an additional 500 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Mettler-Toledo International were worth $805,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of MTD. Quantbot Technologies LP acquired a new stake in Mettler-Toledo International in the 3rd quarter valued at approximately $193,000. Commonwealth Equity Services Inc increased its position in Mettler-Toledo International by 38.9% in the 3rd quarter. Commonwealth Equity Services Inc now owns 550 shares of the medical instruments supplier’s stock valued at $344,000 after acquiring an additional 154 shares during the period. Ameriprise Financial Inc. increased its position in Mettler-Toledo International by 34.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 79,986 shares of the medical instruments supplier’s stock valued at $50,084,000 after acquiring an additional 20,339 shares during the period. Chartwell Investment Partners LLC increased its position in Mettler-Toledo International by 4.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 2,104 shares of the medical instruments supplier’s stock valued at $1,317,000 after acquiring an additional 83 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mettler-Toledo International by 9.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,444 shares of the medical instruments supplier’s stock valued at $4,035,000 after acquiring an additional 539 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.
Several analysts recently commented on the company. Deutsche Bank raised their target price on Mettler-Toledo International from $600.00 to $630.00 and gave the company a “hold” rating in a research report on Thursday, March 1st. Morgan Stanley lifted their price target on Mettler-Toledo International from $550.00 to $580.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Robert W. Baird lowered their price target on Mettler-Toledo International from $675.00 to $630.00 and set a “neutral” rating on the stock in a research report on Friday, February 9th. Citigroup upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $685.00 to $692.00 in a research report on Friday, February 9th. Finally, Evercore ISI initiated coverage on Mettler-Toledo International in a research report on Wednesday, January 3rd. They set an “in-line” rating and a $625.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Mettler-Toledo International has an average rating of “Hold” and an average target price of $649.30.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $5.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.93 by $0.04. The company had revenue of $778.03 million for the quarter, compared to analysts’ expectations of $764.26 million. Mettler-Toledo International had a return on equity of 94.54% and a net margin of 13.80%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $5.28 EPS. sell-side analysts predict that Mettler-Toledo International Inc. will post 20.17 earnings per share for the current year.
In other news, CFO Shawn Vadala sold 300 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $605.20, for a total transaction of $181,560.00. Following the completion of the sale, the chief financial officer now directly owns 5,599 shares of the company’s stock, valued at approximately $3,388,514.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William P. Donnelly sold 6,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $612.35, for a total value of $3,674,100.00. Following the sale, the executive vice president now directly owns 4,500 shares of the company’s stock, valued at $2,755,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,268 shares of company stock valued at $17,497,059. Corporate insiders own 5.20% of the company’s stock.
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About Mettler-Toledo International
Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.
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