Mettler-Toledo International, Inc. $MTD Shares Bought by Wellington Management Group LLP

Key Points

• Wellington Management increased its Mettler-Toledo stake by 908.6% in the second quarter, acquiring 413,547 additional shares and bringing its holdings to 459,064 shares worth approximately $586.5 million.
• Institutional investors and hedge funds own 95.07% of Mettler-Toledo’s outstanding stock, while insiders sold 3,312 shares valued at about $4.75 million during the latest quarter.
• Mettler-Toledo exceeded quarterly earnings expectations, reporting EPS of $11.46 versus the $10.78 consensus and revenue growth of 4.5% year over year. Analysts’ average rating remains “Hold,” with an average price target of $1,461.27.

Wellington Management Group LLP lifted its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 908.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 459,064 shares of the medical instruments supplier's stock after acquiring an additional 413,547 shares during the period. Wellington Management Group LLP owned 2.29% of Mettler-Toledo International worth $586,459,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MTD. XXEC Inc. acquired a new position in Mettler-Toledo International during the second quarter worth approximately $77,044,000. BlackRock Inc. purchased a new position in Mettler-Toledo International during the second quarter worth approximately $2,404,713,000. Capital International Investors boosted its holdings in shares of Mettler-Toledo International by 12.7% in the 4th quarter. Capital International Investors now owns 969,067 shares of the medical instruments supplier's stock valued at $1,351,064,000 after purchasing an additional 109,508 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Mettler-Toledo International by 0.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 691,565 shares of the medical instruments supplier's stock valued at $964,174,000 after purchasing an additional 3,157 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Mettler-Toledo International by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 597,448 shares of the medical instruments supplier's stock valued at $830,879,000 after buying an additional 14,106 shares during the period. 95.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mettler-Toledo International

In related news, insider Gerry Keller sold 240 shares of the business's stock in a transaction that occurred on 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. The trade was a 48.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas P. Salice sold 417 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $1,440.41, for a total value of $600,650.97. Following the transaction, the director directly owned 292 shares in the company, valued at $420,599.72. This trade represents a 58.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,312 shares of company stock valued at $4,750,362 over the last quarter. Company insiders own 0.71% of the company's stock.

Mettler-Toledo International Stock Performance

NYSE:MTD opened at $1,397.03 on Friday. The firm's fifty day simple moving average is $1,345.25 and its 200 day simple moving average is $1,275.03. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 159.45. 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 $28.00 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.88 and a beta of 1.23.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Stifel Nicolaus upped their price objective on 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. Morgan Stanley boosted their price target on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Wolfe Research began coverage on Mettler-Toledo International in a research note on Tuesday, June 2nd. They set a "peer perform" rating for the company. JPMorgan Chase & Co. cut their price objective on Mettler-Toledo International from $1,413.00 to $1,200.00 and set a "neutral" rating on the stock in a report on Monday, May 11th. Finally, Barclays lifted their price objective on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1,461.27.

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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