Schwab Charles Investment Management Inc. Decreases Holdings in Mettler-Toledo International, Inc. (MTD)
Schwab Charles Investment Management Inc. lessened its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD) by 25.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,041 shares of the medical instruments supplier’s stock after selling 30,666 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.34% of Mettler-Toledo International worth $55,128,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Airain ltd bought a new stake in shares of Mettler-Toledo International during the second quarter worth $2,958,000. California Public Employees Retirement System grew its stake in shares of Mettler-Toledo International by 2.0% during the second quarter. California Public Employees Retirement System now owns 71,000 shares of the medical instruments supplier’s stock worth $41,786,000 after buying an additional 1,400 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Mettler-Toledo International by 90.5% during the second quarter. Riverhead Capital Management LLC now owns 1,800 shares of the medical instruments supplier’s stock worth $1,060,000 after buying an additional 855 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Mettler-Toledo International by 2.3% during the second quarter. Principal Financial Group Inc. now owns 42,546 shares of the medical instruments supplier’s stock worth $25,040,000 after buying an additional 974 shares during the last quarter. Finally, Page Arthur B bought a new stake in shares of Mettler-Toledo International during the third quarter worth $848,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.
MTD has been the topic of a number of recent research reports. BidaskClub upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Goldman Sachs Group reiterated a “buy” rating and set a $690.00 price target on shares of Mettler-Toledo International in a report on Tuesday, September 26th. Morgan Stanley reiterated an “equal weight” rating and set a $535.00 price target (down previously from $565.00) on shares of Mettler-Toledo International in a report on Friday, October 6th. Finally, Bank of America lifted their price target on shares of Mettler-Toledo International from $640.00 to $710.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $621.57.
Shares of Mettler-Toledo International, Inc. (NYSE MTD) traded down $17.84 during trading hours on Tuesday, hitting $606.80. 228,500 shares of the stock were exchanged, compared to its average volume of 156,908. The firm has a market capitalization of $15,977.74, a price-to-earnings ratio of 36.96, a PEG ratio of 2.85 and a beta of 1.09. The company has a current ratio of 1.51, a quick ratio of 1.11 and a debt-to-equity ratio of 2.05. Mettler-Toledo International, Inc. has a 52 week low of $408.65 and a 52 week high of $694.48.
Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, November 2nd. The medical instruments supplier reported $4.36 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.04. The company had revenue of $698.80 million for the quarter, compared to analyst estimates of $685.56 million. Mettler-Toledo International had a net margin of 16.44% and a return on equity of 96.81%. Mettler-Toledo International’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.89 earnings per share. research analysts anticipate that Mettler-Toledo International, Inc. will post 17.52 earnings per share for the current fiscal year.
In related news, Director Michael A. Kelly sold 3,384 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $638.24, for a total value of $2,159,804.16. Following the transaction, the director now owns 4,762 shares in the company, valued at $3,039,298.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Simon Kirk sold 838 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $605.65, for a total transaction of $507,534.70. Following the completion of the transaction, the insider now owns 1,998 shares in the company, valued at approximately $1,210,088.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,697 shares of company stock worth $26,294,324. 5.20% of the stock is owned by company insiders.
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Mettler-Toledo International Company Profile
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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