CCM Investment Group LLC Acquires New Stake in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• CCM Investment Group LLC has invested approximately $1.06 million in Mettler-Toledo International, acquiring 900 shares in the company's first quarter, according to their latest SEC filing.
• Other significant investors, including Nuveen LLC and National Bank of Canada FI, have also made large adjustments to their positions in Mettler-Toledo International, reflecting strong institutional interest in the company.
• Mettler-Toledo International recently reported earnings of $10.09 EPS, exceeding expectations, while revenue for the quarter rose by 3.9% year-over-year to $983.22 million.

CCM Investment Group LLC purchased a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 900 shares of the medical instruments supplier's stock, valued at approximately $1,059,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MTD. GAMMA Investing LLC boosted its holdings in shares of Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock worth $456,018,000 after acquiring an additional 385,864 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Mettler-Toledo International by 36.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier's stock valued at $444,327,000 after buying an additional 96,300 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Mettler-Toledo International in the first quarter valued at approximately $71,897,000. Northern Trust Corp raised its position in shares of Mettler-Toledo International by 23.6% in the fourth quarter. Northern Trust Corp now owns 251,705 shares of the medical instruments supplier's stock valued at $308,006,000 after buying an additional 48,027 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its position in shares of Mettler-Toledo International by 60.4% in the first quarter. AustralianSuper Pty Ltd now owns 114,986 shares of the medical instruments supplier's stock valued at $135,788,000 after buying an additional 43,313 shares in the last quarter. Institutional investors own 95.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTD. Bank of America lifted their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and dropped their price target for the company from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Jefferies Financial Group upgraded shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price target for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Barclays began coverage on shares of Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on shares of Mettler-Toledo International from $1,210.00 to $1,230.00 and gave the company a "neutral" rating in a research report on Monday, August 4th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $1,288.89.

Mettler-Toledo International Price Performance

MTD traded up $5.25 during trading on Friday, hitting $1,318.89. 48,609 shares of the stock traded hands, compared to its average volume of 174,564. Mettler-Toledo International, Inc. has a twelve month low of $946.69 and a twelve month high of $1,521.01. The company has a market cap of $27.17 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 3.97 and a beta of 1.34. The business has a 50 day moving average price of $1,213.03 and a 200 day moving average price of $1,190.73.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $10.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.58 by $0.51. The company had revenue of $983.22 million during the quarter, compared to the consensus estimate of $957.41 million. Mettler-Toledo International had a net margin of 21.46% and a negative return on equity of 476.07%. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $9.65 earnings per share. On average, equities research analysts predict that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current year.

Insider Transactions at Mettler-Toledo International

In other news, Director Thomas P. Salice sold 1,062 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $1,300.90, for a total transaction of $1,381,555.80. Following the completion of the transaction, the director directly owned 283 shares in the company, valued at approximately $368,154.70. This represents a 78.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $1,254.09, for a total transaction of $376,227.00. Following the transaction, the chief financial officer owned 5,095 shares of the company's stock, valued at $6,389,588.55. This trade represents a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,424 shares of company stock worth $2,989,628. Corporate insiders own 1.94% of the company's stock.

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.