California State Teachers Retirement System Purchases 35,070,318 Shares of Mettler-Toledo International, Inc. $MTD

Key Points

• California State Teachers Retirement System reportedly increased its Mettler-Toledo stake by 114,807.7%, purchasing 35.07 million shares and bringing its reported holdings to 35.1 million shares. The filing’s claim that this represented 175.15% ownership appears unusual and may reflect a data error.
• Analyst sentiment remains mixed, with six Buy, eight Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $1,445.31.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting $11.46 in EPS versus the $10.78 consensus and 4.5% year-over-year revenue growth. Meanwhile, insiders sold 4,254 shares worth approximately $6.1 million over the past 90 days.

California State Teachers Retirement System grew its position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 114,807.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,100,865 shares of the medical instruments supplier's stock after buying an additional 35,070,318 shares during the period. California State Teachers Retirement System owned approximately 175.15% of Mettler-Toledo International worth $44,841,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Geneos Wealth Management Inc. boosted its holdings in Mettler-Toledo International by 83.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 66 shares of the medical instruments supplier's stock valued at $78,000 after purchasing an additional 30 shares during the period. Baird Financial Group Inc. raised its position in shares of Mettler-Toledo International by 3.1% in the second quarter. Baird Financial Group Inc. now owns 1,347 shares of the medical instruments supplier's stock valued at $1,582,000 after buying an additional 40 shares in the last quarter. Jump Financial LLC boosted its stake in shares of Mettler-Toledo International by 44.6% in the second quarter. Jump Financial LLC now owns 405 shares of the medical instruments supplier's stock valued at $476,000 after buying an additional 125 shares during the period. Cerity Partners LLC grew its position in Mettler-Toledo International by 10.8% during the second quarter. Cerity Partners LLC now owns 4,035 shares of the medical instruments supplier's stock worth $4,740,000 after buying an additional 392 shares in the last quarter. Finally, AXA S.A. grew its position in Mettler-Toledo International by 2.9% during the second quarter. AXA S.A. now owns 4,625 shares of the medical instruments supplier's stock worth $5,433,000 after buying an additional 131 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTD. Robert W. Baird cut their target price on Mettler-Toledo International from $1,445.00 to $1,194.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Jefferies Financial Group upped their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,580.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Mettler-Toledo International from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Stifel Nicolaus boosted their target price on shares of Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Finally, Rothschild & Co Redburn initiated coverage on shares of Mettler-Toledo International in a report on Wednesday, September 2nd. They set a "sell" rating and a $1,200.00 price target for the company. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International has a consensus rating of "Hold" and a consensus target price of $1,445.31.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, insider Gerry Keller sold 240 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1,427.14, for a total value of $342,513.60. Following the completion of the transaction, the insider directly owned 259 shares in the company, valued at approximately $369,629.26. This trade represents a 48.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas P. Salice sold 417 shares of Mettler-Toledo International 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,254 shares of company stock worth $6,092,712. Insiders own 0.71% of the company's stock.

Mettler-Toledo International Price Performance

MTD stock opened at $1,344.87 on Monday. The stock has a market cap of $26.95 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 2.70 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 company has a 50 day simple moving average of $1,361.63 and a 200 day simple moving average of $1,274.11. Mettler-Toledo International, Inc. has a 1 year low of $1,023.05 and a 1 year high of $1,525.17.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued 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. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a net margin of 21.91% and a negative return on equity of 1,212.14%. The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $10.09 earnings per share. Research analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Mettler-Toledo International Profile

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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