Citizens Financial Group Inc. RI Buys New Stake in Mettler-Toledo International, Inc. $MTD

Key Points

• Citizens Financial Group initiated a Mettler-Toledo position of 601 shares valued at approximately $908,000 in the third quarter. Institutional investors and hedge funds collectively own 95.07% of the company.
• Analyst sentiment remains mixed, with six Buy, eight Hold, and one Sell rating; the consensus rating is Hold with a $1,469.15 target price. Barclays and Stifel raised their targets to $1,700 and $1,600, respectively.
• Mettler-Toledo reported quarterly EPS of $11.46, beating estimates by $0.68, while revenue rose 4.5% year over year to $1.03 billion. The stock opened at $1,698.95, near its 52-week high, as insiders sold more than $6.09 million of shares over the past 90 days.

Citizens Financial Group Inc. RI bought a new position in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 601 shares of the medical instruments supplier's stock, valued at approximately $908,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC grew its position in shares of Mettler-Toledo International by 21.5% in the 3rd quarter. Manchester Capital Management LLC now owns 192 shares of the medical instruments supplier's stock valued at $290,000 after buying an additional 34 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Mettler-Toledo International by 2.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 562 shares of the medical instruments supplier's stock worth $849,000 after acquiring an additional 16 shares in the last quarter. Yousif Capital Management LLC raised its stake in Mettler-Toledo International by 0.7% during the 3rd quarter. Yousif Capital Management LLC now owns 2,577 shares of the medical instruments supplier's stock worth $3,894,000 after acquiring an additional 19 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Mettler-Toledo International in the third quarter valued at $56,000. Finally, Quadrant Capital Group LLC lifted its position in Mettler-Toledo International by 5.4% in the third quarter. Quadrant Capital Group LLC now owns 488 shares of the medical instruments supplier's stock valued at $780,000 after acquiring an additional 25 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on Mettler-Toledo International from $1,450.00 to $1,575.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 13th. UBS Group began coverage on Mettler-Toledo International in a research report on Wednesday, September 9th. They set a "neutral" rating and a $1,460.00 target price on the stock. Royal Bank Of Canada started coverage on Mettler-Toledo International in a report on Tuesday, September 1st. They issued a "sector perform" rating and a $1,515.00 target price for the company. Stifel Nicolaus upped their target price on 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, Barclays raised their price target on Mettler-Toledo International from $1,575.00 to $1,700.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $1,469.15.

Mettler-Toledo International Stock Up 0.8%

MTD opened at $1,698.95 on Thursday. The business has a 50 day moving average price of $1,483.21 and a two-hundred day moving average price of $1,338.00. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The company has a market cap of $34.04 billion, a PE ratio of 38.24, a P/E/G ratio of 3.36 and a beta of 1.19. Mettler-Toledo International, Inc. has a 52 week low of $1,023.05 and a 52 week high of $1,722.76.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The medical instruments supplier reported $11.46 earnings per share for the quarter, topping analysts' consensus estimates of $10.78 by $0.68. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm earned $10.09 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts anticipate that Mettler-Toledo International, Inc. will post 47.38 EPS for the current year.

Insider Buying and Selling

In related news, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $1,425.00, for a total value of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares in the company, valued at $6,384,000. This trade represents a 17.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gerry Keller sold 240 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total transaction of $342,513.60. Following the completion of the transaction, the insider directly owned 259 shares in the company, valued at $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 4,254 shares of company stock worth $6,092,712. 0.71% of the stock is currently owned by company insiders.

Mettler-Toledo International Company Profile

Mettler-Toledo International Inc NYSE: MTD develops and manufactures precision instruments and related services for laboratory, industrial, and retail applications. Its products help customers weigh, measure, analyze, inspect, and control materials and processes with high accuracy.

The company's laboratory offerings include balances and scales, analytical instruments, titration and pH systems, thermal analysis equipment, spectroscopy products, laboratory automation solutions, and associated software.

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