Fifth Third Wealth Advisors LLC Acquires New Shares in Mettler-Toledo International Inc. (NYSE:MTD)

Fifth Third Wealth Advisors LLC bought a new position in Mettler-Toledo International Inc. (NYSE:MTD) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 263 shares of the medical instruments supplier’s stock, valued at approximately $368,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Walter Public Investments Inc. lifted its holdings in Mettler-Toledo International by 26.6% in the 2nd quarter. Walter Public Investments Inc. now owns 10,453 shares of the medical instruments supplier’s stock worth $14,609,000 after purchasing an additional 2,194 shares during the last quarter. Carnegie Investment Counsel lifted its stake in shares of Mettler-Toledo International by 0.8% in the second quarter. Carnegie Investment Counsel now owns 13,963 shares of the medical instruments supplier’s stock worth $19,514,000 after buying an additional 109 shares during the last quarter. Parsons Capital Management Inc. RI boosted its holdings in shares of Mettler-Toledo International by 7.2% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,681 shares of the medical instruments supplier’s stock worth $3,747,000 after buying an additional 180 shares during the period. OFI Invest Asset Management acquired a new position in Mettler-Toledo International in the 2nd quarter valued at $802,000. Finally, PineStone Asset Management Inc. raised its holdings in 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 worth $362,855,000 after acquiring an additional 145,453 shares during the period. 95.07% of the stock is owned by hedge funds and other institutional investors.

Mettler-Toledo International Stock Up 0.1 %

Mettler-Toledo International stock traded up $0.90 during mid-day trading on Wednesday, hitting $1,431.83. 54,529 shares of the company were exchanged, compared to its average volume of 142,004. The company has a market capitalization of $30.58 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 4.06 and a beta of 1.17. The business has a fifty day moving average of $1,406.35 and a 200 day moving average of $1,345.65. Mettler-Toledo International Inc. has a 1-year low of $928.49 and a 1-year high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) 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 analysts’ expectations of $929.13 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 590.80%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the company posted $10.19 EPS. Research analysts expect that Mettler-Toledo International Inc. will post 40.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MTD. Jefferies Financial Group restated an “underperform” rating and set a $1,250.00 price target (up from $1,230.00) on shares of Mettler-Toledo International in a report on Monday, June 3rd. Stifel Nicolaus raised their target price on 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. upped their price target on 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. The Goldman Sachs Group raised their price objective on shares of Mettler-Toledo International from $1,150.00 to $1,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and a consensus target price of $1,343.75.

Insider Buying and Selling

In other news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction 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 accessible through this link. In other news, CFO Shawn Vadala sold 250 shares of the company’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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian Magloth sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 734 shares of the company’s stock, valued at approximately $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

About Mettler-Toledo International

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.