Promethos Capital LLC Raises Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Promethos Capital LLC lifted its position in Mettler-Toledo International Inc. (NYSE:MTD) by 131.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,710 shares of the medical instruments supplier’s stock after purchasing an additional 970 shares during the quarter. Promethos Capital LLC’s holdings in Mettler-Toledo International were worth $2,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MTD. Capital International Investors raised its holdings in Mettler-Toledo International by 15.1% in the 1st quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock valued at $1,431,696,000 after buying an additional 141,431 shares during the period. Bank of New York Mellon Corp increased its position in shares of Mettler-Toledo International by 169.4% during the first quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after acquiring an additional 360,786 shares during the last quarter. PineStone Asset Management Inc. raised its stake in shares of Mettler-Toledo International by 127.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock valued at $362,855,000 after acquiring an additional 145,453 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Mettler-Toledo International by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 248,007 shares of the medical instruments supplier’s stock worth $330,169,000 after acquiring an additional 6,788 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of Mettler-Toledo International by 1.9% during the 2nd quarter. TD Asset Management Inc now owns 157,247 shares of the medical instruments supplier’s stock worth $219,767,000 after purchasing an additional 2,866 shares during the period. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Trading Up 2.9 %

Mettler-Toledo International stock opened at $1,443.03 on Friday. The company has a fifty day simple moving average of $1,407.70 and a 200-day simple moving average of $1,374.32. The stock has a market cap of $30.82 billion, a P/E ratio of 40.47, a price-to-earnings-growth ratio of 3.70 and a beta of 1.14. Mettler-Toledo International Inc. has a 12-month low of $928.49 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 EPS for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. The business had revenue of $946.75 million for the quarter, compared to the consensus estimate of $929.13 million. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.19 EPS. As a group, sell-side analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MTD shares. The Goldman Sachs Group raised their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Stifel Nicolaus lifted their price objective on shares of Mettler-Toledo International from $1,510.00 to $1,550.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Jefferies Financial Group restated an “underperform” rating and issued a $1,250.00 price target (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Finally, Wells Fargo & Company initiated coverage on Mettler-Toledo International in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $1,400.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and a consensus price target of $1,356.25.

Insider Activity

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the transaction, the chief financial officer now owns 4,914 shares of the company’s stock, valued at $6,884,514. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,401.00, for a total transaction of $350,250.00. Following the transaction, the chief financial officer now directly owns 4,914 shares in the company, valued at $6,884,514. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christian Magloth sold 1,000 shares of Mettler-Toledo International stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the transaction, the insider now directly owns 734 shares in the company, valued at $1,044,459.98. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Company 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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.