Bank of America Corp DE Invests $240.82 Million in Mettler-Toledo International, Inc. $MTD

Key Points

• Bank of America acquired a new $240.82 million stake in Mettler-Toledo, purchasing 188,505 shares, or approximately 0.94% of the company. Institutional investors collectively own 95.07% of the stock.
• Company insiders sold 4,254 shares worth approximately $6.09 million over the past 90 days, including sales by the CFO and a director.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting $11.46 per share versus the $10.78 consensus, while revenue rose 4.5% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $1,446.36.

Bank of America Corp DE purchased a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 188,505 shares of the medical instruments supplier's stock, valued at approximately $240,817,000. Bank of America Corp DE owned 0.94% of Mettler-Toledo International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freestone Grove Partners LP acquired a new position in Mettler-Toledo International in the 2nd quarter worth about $84,018,000. Caisse de depot et placement du Quebec bought a new stake in shares of Mettler-Toledo International during the 2nd quarter worth $45,691,000. Man Group plc bought a new stake in shares of Mettler-Toledo International during the 2nd quarter worth $13,696,000. Jupiter Topco LLC acquired a new position in Mettler-Toledo International in the 2nd quarter valued at $3,445,000. Finally, J. Goldman & Co LP acquired a new position in Mettler-Toledo International in the 2nd quarter valued at $3,959,000. 95.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mettler-Toledo International news, Director Thomas Salice sold 417 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $1,440.41, for a total value of $600,650.97. Following the transaction, the director directly owned 292 shares in the company, valued at $420,599.72. The trade was a 58.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Shawn Vadala sold 2,240 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the sale, the chief financial officer directly owned 5,579 shares of the company's stock, valued at approximately $7,989,128. The trade was a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,254 shares of company stock valued at $6,092,712 in the last ninety days. Insiders own 0.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised their price target on Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Wolfe Research initiated coverage on Mettler-Toledo International in a report on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Royal Bank Of Canada began coverage on Mettler-Toledo International in a research report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 price target on the stock. Barclays raised their price objective on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley upped their target price on shares of Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $1,446.36.

Mettler-Toledo International Stock Up 3.8%

MTD opened at $1,381.54 on Thursday. The company has a market capitalization of $27.69 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.67 and a beta of 1.22. The company has a debt-to-equity ratio of 159.45, a current ratio of 1.12 and a quick ratio of 0.78. The firm's fifty day moving average price is $1,366.42 and its two-hundred day moving average price is $1,270.74. Mettler-Toledo International, Inc. has a fifty-two week low of $1,023.05 and a fifty-two week high of $1,525.17.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, beating analysts' consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $10.09 earnings per share. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 EPS for the current year.

Mettler-Toledo International Profile

Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.

The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.

Want to see what other hedge funds are holding MTD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mettler-Toledo International, Inc. (NYSE:MTD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.