Handelsbanken Fonder AB Has $18.10 Million Stock Position in Mettler-Toledo International, Inc. $MTD

Key Points

• Handelsbanken Fonder increased its Mettler-Toledo stake by 11.4% in the second quarter, owning 14,165 shares valued at approximately $18.1 million. Institutional investors and hedge funds hold 95.07% of the company.
• Insiders sold 3,312 shares worth about $4.75 million over the past 90 days, including significant sales by the company’s CFO and another insider.
• Mettler-Toledo reported quarterly EPS of $11.46, 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.

Handelsbanken Fonder AB grew its stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,165 shares of the medical instruments supplier's stock after purchasing an additional 1,446 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of Mettler-Toledo International worth $18,096,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in shares of Mettler-Toledo International during the 1st quarter valued at approximately $26,372,000. M&T Bank Corp grew its holdings in shares of Mettler-Toledo International by 2,813.6% in the 4th quarter. M&T Bank Corp now owns 124,205 shares of the medical instruments supplier's stock worth $173,165,000 after acquiring an additional 119,942 shares during the period. Strs Ohio grew its holdings in shares of Mettler-Toledo International by 2,594.8% in the 4th quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier's stock worth $18,672,000 after acquiring an additional 12,896 shares during the period. Crossmark Global Holdings Inc. increased its stake in Mettler-Toledo International by 34.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,150 shares of the medical instruments supplier's stock valued at $5,786,000 after purchasing an additional 1,060 shares in the last quarter. Finally, KBC Group NV raised its holdings in Mettler-Toledo International by 22.9% during the fourth quarter. KBC Group NV now owns 8,089 shares of the medical instruments supplier's stock worth $11,278,000 after purchasing an additional 1,507 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction of $342,513.60. Following the transaction, the insider directly owned 259 shares in the company, valued at approximately $369,629.26. This represents a 48.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Shawn Vadala sold 2,240 shares of Mettler-Toledo International stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the completion of the sale, the chief financial officer owned 5,579 shares of the company's stock, valued at $7,989,128. This trade represents a 28.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,312 shares of company stock worth $4,750,362. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MTD shares. Wells Fargo & Company upped their target price on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Jefferies Financial Group boosted 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. JPMorgan Chase & Co. lowered their price objective on shares of Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. Citigroup cut their target price on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, Barclays upped their price target on shares of Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $1,461.27.

Mettler-Toledo International Stock Up 0.1%

Shares of NYSE MTD opened at $1,438.05 on Thursday. Mettler-Toledo International, Inc. has a 1 year low of $1,023.05 and a 1 year high of $1,525.17. The firm's 50 day moving average price is $1,282.90 and its 200 day moving average price is $1,273.02. The firm has a market cap of $28.82 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 2.96 and a beta of 1.23. The company has a debt-to-equity ratio of 159.45, a quick ratio of 0.78 and a current ratio of 1.12.

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 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $10.09 EPS. Mettler-Toledo International's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Mettler-Toledo International, Inc. will post 47.35 earnings per share for the current year.

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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