Bank of New York Mellon Corp Invests $762.55 Million in Mettler-Toledo International, Inc. $MTD

Key Points

• Bank of New York Mellon bought 596,906 shares of Mettler-Toledo International worth approximately $762.6 million, giving it a 2.98% stake. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly earnings of $11.46 per share, beating estimates of $10.78, while revenue rose 4.5% year over year to $1.03 billion.
• Analysts have a consensus “Hold” rating and an average price target of $1,461.27; several firms recently raised their targets, although company insiders sold roughly $4.75 million of stock over the past three months.

Bank of New York Mellon Corp bought a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 596,906 shares of the medical instruments supplier's stock, valued at approximately $762,553,000. Bank of New York Mellon Corp owned 2.98% of Mettler-Toledo International at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Evergreen Capital Management LLC increased its stake in shares of Mettler-Toledo International by 4.5% in the 4th quarter. Evergreen Capital Management LLC now owns 184 shares of the medical instruments supplier's stock valued at $257,000 after purchasing an additional 8 shares during the last quarter. Meridian Wealth Management LLC grew its stake in shares of Mettler-Toledo International by 1.7% in the fourth quarter. Meridian Wealth Management LLC now owns 488 shares of the medical instruments supplier's stock worth $680,000 after purchasing an additional 8 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Mettler-Toledo International by 2.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 302 shares of the medical instruments supplier's stock valued at $421,000 after buying an additional 8 shares during the period. Values First Advisors Inc. increased its position in Mettler-Toledo International by 1.3% during the 1st quarter. Values First Advisors Inc. now owns 625 shares of the medical instruments supplier's stock valued at $789,000 after purchasing an additional 8 shares during the period. Finally, Torray Investment Partners LLC increased its position in shares of Mettler-Toledo International by 0.5% during the first quarter. Torray Investment Partners LLC now owns 1,677 shares of the medical instruments supplier's stock worth $2,115,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Mettler-Toledo International Price Performance

Shares of NYSE MTD opened at $1,392.94 on Friday. The stock's 50-day simple moving average is $1,314.38 and its two-hundred day simple moving average is $1,273.49. Mettler-Toledo International, Inc. has a twelve month low of $1,023.05 and a twelve month high of $1,525.17. The firm has a market capitalization of $27.91 billion, a P/E ratio of 31.35, a P/E/G ratio of 2.93 and a beta of 1.23. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, topping 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 firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the firm earned $10.09 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MTD has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Morgan Stanley raised their target price on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Stifel Nicolaus boosted their price target on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Citigroup reduced their price objective on Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Mettler-Toledo International presently has a consensus rating of "Hold" and an average target price of $1,461.27.

Insider Transactions at Mettler-Toledo International

In related news, insider Gerry Keller sold 240 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the transaction, the insider directly owned 259 shares of the company's stock, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Shawn Vadala sold 2,240 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total transaction of $3,207,680.00. Following the transaction, the chief financial officer owned 5,579 shares in the company, valued at $7,989,128. The trade was a 28.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 3,312 shares of company stock worth $4,750,362. 0.71% of the stock is currently owned by corporate insiders.

About Mettler-Toledo International

Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company's product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.

The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.

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