Mettler-Toledo International Inc. (NYSE:MTD) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,313 shares of the medical instruments supplier’s stock after selling 362 shares during the period. Amalgamated Bank’s holdings in Mettler-Toledo International were worth $6,028,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Mettler-Toledo International during the 1st quarter valued at $25,000. Family Firm Inc. bought a new stake in Mettler-Toledo International during the second quarter valued at about $25,000. Spartan Planning & Wealth Management bought a new stake in Mettler-Toledo International during the 4th quarter valued at approximately $27,000. Bellevue Group AG acquired a new stake in shares of Mettler-Toledo International in the fourth quarter worth $30,000. Finally, Mather Group LLC. acquired a new stake in Mettler-Toledo International in the 1st quarter worth $32,000. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International Price Performance

Shares of MTD stock opened at $1,406.11 on Friday. Mettler-Toledo International Inc. has a one year low of $928.49 and a one year high of $1,546.93. The business’s 50 day simple moving average is $1,408.63 and its 200 day simple moving average is $1,375.15. The stock has a market capitalization of $30.03 billion, a PE ratio of 39.43, a PEG ratio of 3.70 and a beta of 1.14.

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

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MTD. Jefferies Financial Group reissued an “underperform” rating and set a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Wells Fargo & Company initiated coverage on shares of 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. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Evercore ISI increased their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $1,356.25.

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.