Checchi Capital Advisers LLC raised its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 316 shares of the company’s stock after buying an additional 10 shares during the period. Checchi Capital Advisers LLC’s holdings in Mettler-Toledo International were worth $115,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Capstone Asset Management Co. boosted its stake in Mettler-Toledo International by 12.0% in the second quarter. Capstone Asset Management Co. now owns 3,737 shares of the company’s stock valued at $1,364,000 after buying an additional 399 shares in the last quarter. Geode Capital Management LLC boosted its stake in Mettler-Toledo International by 11.1% in the first quarter. Geode Capital Management LLC now owns 179,972 shares of the company’s stock valued at $62,016,000 after buying an additional 18,033 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Mettler-Toledo International during the first quarter valued at approximately $579,000. Virginia Retirement System acquired a new stake in Mettler-Toledo International during the first quarter valued at approximately $15,805,000. Finally, Nisa Investment Advisors L.L.C. boosted its stake in Mettler-Toledo International by 6.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 17,170 shares of the company’s stock valued at $5,920,000 after buying an additional 1,060 shares in the last quarter. 95.82% of the stock is owned by institutional investors and hedge funds.
Mettler-Toledo International Inc. (NYSE:MTD) traded up 0.18% on Friday, hitting $399.78. The stock had a trading volume of 249,478 shares. The company has a market cap of $10.59 billion, a P/E ratio of 30.87 and a beta of 1.22. Mettler-Toledo International Inc. has a 1-year low of $275.30 and a 1-year high of $416.75. The stock has a 50 day moving average price of $401.89 and a 200 day moving average price of $371.08.
Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, July 28th. The company reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.09. Mettler-Toledo International had a return on equity of 68.23% and a net margin of 14.74%. The company had revenue of $608.28 million for the quarter, compared to the consensus estimate of $598.20 million. During the same quarter in the previous year, the business earned $2.80 EPS. Mettler-Toledo International’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that Mettler-Toledo International Inc. will post $14.45 EPS for the current fiscal year.
MTD has been the subject of several recent analyst reports. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. Citigroup Inc. cut Mettler-Toledo International from a “buy” rating to a “neutral” rating and raised their target price for the stock from $382.00 to $400.00 in a research note on Thursday, June 23rd. Bank of America Corp. upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $404.33 to $470.00 in a report on Wednesday, August 31st. Finally, JPMorgan Chase & Co. increased their price target on Mettler-Toledo International from $350.00 to $400.00 and gave the stock a “neutral” rating in a report on Friday, July 29th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $378.38.
In related news, Director Thomas P. Salice sold 460 shares of the business’s 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 owns 32,578 shares in the company, valued at approximately $13,488,269.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Thomas Caratsch sold 700 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $412.50, for a total value of $288,750.00. Following the transaction, the insider now owns 1,470 shares in the company, valued at approximately $606,375. 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.
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