Mitchell Capital Management Co. Sells 1,265 Shares of Mettler-Toledo International Inc. (MTD)
Mitchell Capital Management Co. decreased its position in Mettler-Toledo International Inc. (NYSE:MTD) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 20,960 shares of the company’s stock after selling 1,265 shares during the period. Mettler-Toledo International makes up about 3.1% of Mitchell Capital Management Co.’s portfolio, making the stock its 17th largest position. Mitchell Capital Management Co.’s holdings in Mettler-Toledo International were worth $7,649,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Mettler-Toledo International by 0.7% in the first quarter. State Street Corp now owns 895,965 shares of the company’s stock worth $308,873,000 after buying an additional 6,360 shares during the period. Acadian Asset Management LLC raised its position in Mettler-Toledo International by 54.9% in the second quarter. Acadian Asset Management LLC now owns 624,257 shares of the company’s stock worth $227,800,000 after buying an additional 221,233 shares during the period. Goldman Sachs Group Inc. raised its position in Mettler-Toledo International by 17.8% in the first quarter. Goldman Sachs Group Inc. now owns 600,758 shares of the company’s stock worth $207,117,000 after buying an additional 90,736 shares during the period. Wellington Management Group LLP raised its position in Mettler-Toledo International by 8.3% in the first quarter. Wellington Management Group LLP now owns 564,521 shares of the company’s stock worth $194,625,000 after buying an additional 43,118 shares during the period. Finally, Geode Capital Management LLC raised its position 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 worth $62,016,000 after buying an additional 18,033 shares during the period. 96.64% of the stock is currently owned by institutional investors.
Mettler-Toledo International Inc. (NYSE:MTD) traded up 0.61% during midday trading on Monday, hitting $409.11. The company had a trading volume of 229,112 shares. Mettler-Toledo International Inc. has a 52-week low of $290.03 and a 52-week high of $424.13. The stock has a 50 day moving average of $407.20 and a 200 day moving average of $382.77. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 31.59 and a beta of 1.16.
Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, July 28th. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.09. The firm had revenue of $608.28 million for the quarter, compared to analysts’ expectations of $598.20 million. Mettler-Toledo International had a return on equity of 68.23% and a net margin of 14.74%. Mettler-Toledo International’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.80 EPS. On average, analysts anticipate that Mettler-Toledo International Inc. will post $14.45 EPS for the current year.
A number of equities analysts have weighed in on MTD shares. Zacks Investment Research lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Thursday, July 21st. JPMorgan Chase & Co. lifted their target price on Mettler-Toledo International from $350.00 to $400.00 and gave the company a “neutral” rating in a research report on Friday, July 29th. Bank of America Corp. upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and lifted their target price for the company from $404.33 to $470.00 in a research report on Wednesday, August 31st. Finally, Citigroup Inc. downgraded Mettler-Toledo International from a “buy” rating to a “neutral” rating and lifted their target price for the company from $382.00 to $400.00 in a research report on Thursday, June 23rd. One investment 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 company currently has a consensus rating of “Hold” and an average target price of $378.38.
In other Mettler-Toledo International news, insider Waldemar Rauch sold 3,042 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $410.56, for a total transaction of $1,248,923.52. Following the sale, the insider now owns 14,938 shares in the company, valued at approximately $6,132,945.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas P. Salice sold 460 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $414.03, for a total value of $190,453.80. Following the sale, the director now owns 32,578 shares in the company, valued at approximately $13,488,269.34. The disclosure for this sale can be found here. Company 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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