CIBC Asset Management Inc Boosts Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

CIBC Asset Management Inc lifted its position in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 2.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,111 shares of the medical instruments supplier’s stock after purchasing an additional 43 shares during the quarter. CIBC Asset Management Inc’s holdings in Mettler-Toledo International were worth $2,908,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MTD. Maverick Capital Ltd. grew its position in Mettler-Toledo International by 82.4% during the second quarter. Maverick Capital Ltd. now owns 31 shares of the medical instruments supplier’s stock valued at $43,000 after acquiring an additional 14 shares during the last quarter. Key Financial Inc lifted its holdings in shares of Mettler-Toledo International by 210.0% in the 3rd quarter. Key Financial Inc now owns 31 shares of the medical instruments supplier’s stock worth $43,000 after acquiring an additional 21 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Mettler-Toledo International in the 3rd quarter valued at $51,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Mettler-Toledo International by 29.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 48 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 11 shares during the last quarter. Finally, PFG Private Wealth Management LLC purchased a new position in Mettler-Toledo International in the 3rd quarter worth $79,000. Institutional investors own 92.58% of the company’s stock.

MTD has been the subject of several analyst reports. Robert W. Baird upped their price target on shares of Mettler-Toledo International from $1,455.00 to $1,531.00 and gave the company a “neutral” rating in a research report on Monday, November 8th. They noted that the move was a valuation call. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $1,552.00 target price for the company in a report on Tuesday, September 28th.

Shares of NYSE MTD opened at $1,512.76 on Friday. The firm’s fifty day moving average is $1,569.95 and its 200 day moving average is $1,512.15. Mettler-Toledo International Inc. has a 52 week low of $1,033.40 and a 52 week high of $1,714.75. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 10.30. The company has a market cap of $34.78 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 2.16 and a beta of 1.05.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, November 4th. The medical instruments supplier reported $8.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.28 by $0.44. The business had revenue of $951.95 million for the quarter, compared to analyst estimates of $931.63 million. Mettler-Toledo International had a net margin of 20.85% and a return on equity of 369.24%. The company’s revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $7.02 EPS. Equities research analysts anticipate that Mettler-Toledo International Inc. will post 33.42 earnings per share for the current year.

In related news, insider Gerry Keller sold 259 shares of the firm’s stock in a transaction on Monday, November 15th. The stock was sold at an average price of $1,545.08, for a total value of $400,175.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivier A. Filliol sold 8,930 shares of Mettler-Toledo International stock in a transaction on Monday, November 29th. The shares were sold at an average price of $1,536.29, for a total transaction of $13,719,069.70. The disclosure for this sale can be found here. Insiders sold 24,826 shares of company stock worth $38,251,715 over the last three months. 3.00% of the stock is owned by insiders.

About Mettler-Toledo International

Mettler-Toledo International, Inc is a supplier of precision instruments and services. The firm manufactures weighing instruments for use in laboratory, industrial, packaging, logistics, and food retailing applications. It also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and also, metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications.

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

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