PNC Financial Services Group Inc. Cuts Stake in Mettler-Toledo International Inc. (MTD)

PNC Financial Services Group Inc. lowered its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,348 shares of the medical instruments supplier’s stock after selling 187 shares during the period. PNC Financial Services Group Inc.’s holdings in Mettler-Toledo International were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its stake in Mettler-Toledo International by 23.1% during the 1st quarter. Wells Fargo & Company MN now owns 40,965 shares of the medical instruments supplier’s stock valued at $23,557,000 after acquiring an additional 7,679 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Mettler-Toledo International during the 1st quarter valued at about $202,000. Mackay Shields LLC purchased a new stake in Mettler-Toledo International during the 1st quarter valued at about $2,476,000. Victory Capital Management Inc. grew its stake in Mettler-Toledo International by 31.1% during the 1st quarter. Victory Capital Management Inc. now owns 5,688 shares of the medical instruments supplier’s stock valued at $3,271,000 after acquiring an additional 1,348 shares in the last quarter. Finally, State of Wisconsin Investment Board grew its stake in Mettler-Toledo International by 14.9% during the 1st quarter. State of Wisconsin Investment Board now owns 28,746 shares of the medical instruments supplier’s stock valued at $16,530,000 after acquiring an additional 3,721 shares in the last quarter. 93.35% of the stock is owned by institutional investors and hedge funds.

NYSE:MTD opened at $610.01 on Friday. The company has a current ratio of 1.46, a quick ratio of 1.06 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.32 and a beta of 1.11. Mettler-Toledo International Inc. has a 1-year low of $540.24 and a 1-year high of $697.26.

Mettler-Toledo International (NYSE:MTD) last posted its earnings results on Thursday, July 26th. The medical instruments supplier reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.07. The company had revenue of $722.00 million for the quarter, compared to analyst estimates of $715.69 million. Mettler-Toledo International had a net margin of 13.52% and a return on equity of 90.80%. Mettler-Toledo International’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.92 EPS. equities analysts expect that Mettler-Toledo International Inc. will post 20.15 EPS for the current fiscal year.

Several analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Mettler-Toledo International from $540.00 to $529.00 and set an “equal weight” rating for the company in a research note on Friday, July 27th. Zacks Investment Research raised shares of Mettler-Toledo International from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Mettler-Toledo International from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Ten analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mettler-Toledo International presently has an average rating of “Hold” and a consensus target price of $625.55.

In other Mettler-Toledo International news, insider La Guerroniere Marc De sold 740 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $600.00, for a total value of $444,000.00. Following the transaction, the insider now directly owns 740 shares in the company, valued at approximately $444,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Shawn Vadala sold 300 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $590.00, for a total transaction of $177,000.00. Following the completion of the transaction, the chief financial officer now owns 5,599 shares in the company, valued at $3,303,410. The disclosure for this sale can be found here. Insiders sold a total of 18,358 shares of company stock worth $10,744,204 over the last quarter. 4.80% of the stock is currently owned by company insiders.

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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