Mettler-Toledo International Inc. (MTD) Position Lowered by Harvey Investment Co. LLC

Harvey Investment Co. LLC lowered its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,463 shares of the medical instruments supplier’s stock after selling 315 shares during the period. Mettler-Toledo International makes up 2.3% of Harvey Investment Co. LLC’s holdings, making the stock its 17th biggest holding. Harvey Investment Co. LLC owned 0.07% of Mettler-Toledo International worth $13,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MTD. Bank of New York Mellon Corp increased its position in shares of Mettler-Toledo International by 13.2% in the third quarter. Bank of New York Mellon Corp now owns 363,632 shares of the medical instruments supplier’s stock worth $221,445,000 after purchasing an additional 42,392 shares during the period. Virtu Financial LLC bought a new position in shares of Mettler-Toledo International in the third quarter worth $250,000. Dimensional Fund Advisors LP increased its position in shares of Mettler-Toledo International by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 108,297 shares of the medical instruments supplier’s stock worth $65,951,000 after purchasing an additional 5,204 shares during the period. Standard Life Aberdeen plc increased its position in shares of Mettler-Toledo International by 13.0% in the third quarter. Standard Life Aberdeen plc now owns 6,680 shares of the medical instruments supplier’s stock worth $4,068,000 after purchasing an additional 768 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Mettler-Toledo International in the third quarter worth $745,000. Institutional investors own 95.69% of the company’s stock.

In other news, insider Christian Magloth sold 1,500 shares of Mettler-Toledo International stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $666.91, for a total transaction of $1,000,365.00. Following the sale, the insider now directly owns 850 shares of the company’s stock, valued at $566,873.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wah-Hui Chu sold 1,000 shares of Mettler-Toledo International stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $692.50, for a total value of $692,500.00. Following the sale, the director now directly owns 3,854 shares in the company, valued at $2,668,895. The disclosure for this sale can be found here. Insiders have sold 150,995 shares of company stock worth $100,997,450 over the last three months. Insiders own 3.50% of the company’s stock.

Several analysts recently weighed in on MTD shares. Zacks Investment Research raised Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $742.00 price objective on the stock in a research note on Tuesday, February 12th. ValuEngine raised Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Bank of America lowered Mettler-Toledo International from a “buy” rating to a “neutral” rating and set a $546.04 price objective on the stock. in a research note on Thursday, January 3rd. Finally, Evercore ISI lowered Mettler-Toledo International from an “in-line” rating to an “underperform” rating in a research note on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $615.84.

NYSE:MTD traded down $0.77 during trading hours on Thursday, hitting $737.20. The company’s stock had a trading volume of 3,825 shares, compared to its average volume of 127,572. The firm has a market capitalization of $18.23 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.60 and a beta of 1.35. The company has a quick ratio of 1.06, a current ratio of 1.42 and a debt-to-equity ratio of 1.67. Mettler-Toledo International Inc. has a twelve month low of $500.74 and a twelve month high of $745.37.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings data on Thursday, February 7th. The medical instruments supplier reported $6.85 earnings per share for the quarter, beating the consensus estimate of $6.74 by $0.11. Mettler-Toledo International had a return on equity of 94.57% and a net margin of 17.46%. The business had revenue of $817.92 million for the quarter, compared to analyst estimates of $807.58 million. During the same period last year, the firm posted $5.97 earnings per share. Mettler-Toledo International’s revenue was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Mettler-Toledo International Inc. will post 22.66 EPS for the current fiscal year.

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Mettler-Toledo International Profile

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.

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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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