Seilern Investment Management Ltd Lowers Stake in Mettler-Toledo International, Inc. $MTD

Key Points

• Seilern Investment Management reduced its Mettler-Toledo stake by 6.6% in the second quarter, selling 1,477 shares and retaining 21,057 shares worth approximately $26.9 million. Institutional investors collectively own 95.07% of the company.
• Mettler-Toledo reported quarterly adjusted EPS of $11.46, beating estimates of $10.78, while revenue reached $1.03 billion and rose 4.5% year over year.
• Shares opened at $1,429.14, near the analyst consensus target of $1,461.27. Analyst sentiment remains mixed, with six Buy ratings and seven Hold ratings, resulting in a consensus “Hold.”

Seilern Investment Management Ltd cut its stake in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,057 shares of the medical instruments supplier's stock after selling 1,477 shares during the period. Mettler-Toledo International comprises about 3.4% of Seilern Investment Management Ltd's investment portfolio, making the stock its 16th largest position. Seilern Investment Management Ltd owned 0.10% of Mettler-Toledo International worth $26,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MTD. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in shares of Mettler-Toledo International during the first quarter worth approximately $26,372,000. M&T Bank Corp boosted its holdings in shares of Mettler-Toledo International by 2,813.6% in the fourth quarter. M&T Bank Corp now owns 124,205 shares of the medical instruments supplier's stock valued at $173,165,000 after purchasing an additional 119,942 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Mettler-Toledo International by 34.3% in the fourth 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 during the period. Strs Ohio grew its stake in Mettler-Toledo International by 2,594.8% in the fourth quarter. Strs Ohio now owns 13,393 shares of the medical instruments supplier's stock worth $18,672,000 after purchasing an additional 12,896 shares in the last quarter. Finally, KBC Group NV grew its stake in Mettler-Toledo International by 22.9% in 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 in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Mettler-Toledo International Stock Up 0.6%

Shares of NYSE MTD opened at $1,429.14 on Friday. Mettler-Toledo International, Inc. has a 12-month low of $1,023.05 and a 12-month high of $1,525.17. The stock's fifty day simple moving average is $1,267.38 and its two-hundred day simple moving average is $1,274.21. The stock has a market capitalization of $28.64 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.94 and a beta of 1.23. 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 (NYSE:MTD - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The medical instruments supplier reported $11.46 EPS for the quarter, topping the consensus estimate of $10.78 by $0.68. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. Mettler-Toledo International had a negative return on equity of 1,212.14% and a net margin of 21.91%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $10.09 EPS. As a group, analysts expect that Mettler-Toledo International, Inc. will post 47.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gerry Keller sold 240 shares of Mettler-Toledo International stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,427.14, for a total value of $342,513.60. Following the transaction, the insider owned 259 shares of the company's stock, valued at $369,629.26. The trade was a 48.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $600,650.97. Following the transaction, the director owned 292 shares of the company's stock, valued at approximately $420,599.72. This trade represents a 58.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,312 shares of company stock worth $4,750,362. 0.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MTD. Barclays lifted their target price on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Robert W. Baird lowered their price objective on shares of Mettler-Toledo International from $1,445.00 to $1,194.00 and set a "neutral" rating for the company in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of 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. Morgan Stanley raised their target price on shares of 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. Finally, Citigroup reduced their price target on shares of Mettler-Toledo International from $1,700.00 to $1,550.00 and set a "buy" rating for the company in a report on Friday, May 8th. Six equities 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 stock currently has a consensus rating of "Hold" and a consensus price target of $1,461.27.

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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