Mettler-Toledo International Inc. (NYSE:MTD) Stock Holdings Decreased by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its position in Mettler-Toledo International Inc. (NYSE:MTD) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,092 shares of the medical instruments supplier’s stock after selling 95 shares during the quarter. Granite Investment Partners LLC’s holdings in Mettler-Toledo International were worth $2,924,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of Mettler-Toledo International in the second quarter worth $25,000. Rise Advisors LLC acquired a new stake in Mettler-Toledo International during the 1st quarter worth about $25,000. Spartan Planning & Wealth Management purchased a new position in Mettler-Toledo International during the 4th quarter valued at about $27,000. Bellevue Group AG acquired a new position in shares of Mettler-Toledo International in the 4th quarter valued at about $30,000. Finally, Mather Group LLC. purchased a new stake in shares of Mettler-Toledo International in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 95.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MTD has been the topic of several research reports. StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Jefferies Financial Group reissued an “underperform” rating and set a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday, June 3rd. The Goldman Sachs Group upped their target price on Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $1,400.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Mettler-Toledo International currently has an average rating of “Hold” and an average target price of $1,356.25.

Mettler-Toledo International Trading Down 2.6 %

Shares of Mettler-Toledo International stock opened at $1,406.11 on Friday. Mettler-Toledo International Inc. has a 1-year low of $928.49 and a 1-year high of $1,546.93. The firm has a fifty day simple moving average of $1,408.63 and a 200-day simple moving average of $1,375.15. The stock has a market capitalization of $30.03 billion, a price-to-earnings ratio of 39.43, a PEG ratio of 3.70 and a beta of 1.14.

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

Insider Activity

In related news, insider Christian Magloth sold 1,000 shares of the company’s 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 approximately $1,044,459.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Christian Magloth sold 1,000 shares of the company’s stock in a transaction dated 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 owns 734 shares of the company’s stock, valued at $1,044,459.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Shawn Vadala sold 250 shares of Mettler-Toledo International stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,401.00, for a total value of $350,250.00. Following the sale, the chief financial officer now directly owns 4,914 shares in the company, valued at $6,884,514. The disclosure for this sale can be found here. 1.94% of the stock is owned by company insiders.

Mettler-Toledo International 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.