Select Equity Group L.P. Decreases Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Select Equity Group L.P. lowered its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 15.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,850 shares of the medical instruments supplier’s stock after selling 2,315 shares during the period. Select Equity Group L.P.’s holdings in Mettler-Toledo International were worth $17,959,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Mettler-Toledo International by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 22,266 shares of the medical instruments supplier’s stock worth $31,119,000 after acquiring an additional 61 shares in the last quarter. MBB Public Markets I LLC increased its holdings in Mettler-Toledo International by 692.5% during the 2nd quarter. MBB Public Markets I LLC now owns 1,474 shares of the medical instruments supplier’s stock worth $2,060,000 after purchasing an additional 1,288 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Mettler-Toledo International in the 2nd quarter valued at approximately $630,000. Decatur Capital Management Inc. boosted its stake in shares of Mettler-Toledo International by 2.6% during the 2nd quarter. Decatur Capital Management Inc. now owns 1,074 shares of the medical instruments supplier’s stock valued at $1,501,000 after buying an additional 27 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Mettler-Toledo International by 34.3% during the second quarter. APG Asset Management N.V. now owns 15,973 shares of the medical instruments supplier’s stock worth $20,829,000 after buying an additional 4,080 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Mettler-Toledo International Stock Up 5.0 %

Shares of NYSE MTD opened at $1,491.27 on Friday. The firm’s 50-day moving average price is $1,414.33 and its two-hundred day moving average price is $1,378.57. Mettler-Toledo International Inc. has a 52-week low of $928.49 and a 52-week high of $1,546.93. The stock has a market capitalization of $31.85 billion, a P/E ratio of 41.82, a P/E/G ratio of 3.75 and a beta of 1.14.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.00 by $0.65. The business had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $10.19 EPS. As a group, equities research analysts expect that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current year.

Insider Buying and Selling at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the transaction, the insider now owns 734 shares in the company, valued at approximately $1,044,459.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Shawn Vadala sold 250 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the sale, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total value of $1,422,970.00. Following the transaction, the insider now owns 734 shares in the company, valued at $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MTD. JPMorgan Chase & Co. upped their price target on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Evercore ISI upped their target price on shares of Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company started coverage on Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price target for the company. Stifel Nicolaus boosted their price objective on Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $1,250.00 target price (up previously from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average price target of $1,356.25.

Mettler-Toledo International Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services in the Americas, Europe, Asia, and internationally. It operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company's laboratory instruments include laboratory balances, liquid pipetting solutions, automated laboratory reactors, real-time analytics, titrators, pH meters, process analytics sensors and analyzer technologies, physical value analyzers, density and refractometry, thermal analysis systems, and other analytical instruments; and LabX, a laboratory software platform to manage and analyze data generated from its instruments.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.