Applied Finance Capital Management LLC Boosts Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Applied Finance Capital Management LLC increased its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 2,952.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,629 shares of the medical instruments supplier's stock after purchasing an additional 15,117 shares during the period. Applied Finance Capital Management LLC owned approximately 0.07% of Mettler-Toledo International worth $23,439,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC acquired a new stake in shares of Mettler-Toledo International in the third quarter valued at $1,428,000. PDS Planning Inc purchased a new position in Mettler-Toledo International during the 3rd quarter valued at about $211,000. QRG Capital Management Inc. boosted its holdings in Mettler-Toledo International by 9.1% during the 3rd quarter. QRG Capital Management Inc. now owns 382 shares of the medical instruments supplier's stock valued at $573,000 after acquiring an additional 32 shares during the period. Asset Management One Co. Ltd. grew its position in Mettler-Toledo International by 4.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 18,545 shares of the medical instruments supplier's stock valued at $27,812,000 after acquiring an additional 813 shares in the last quarter. Finally, National Pension Service increased its stake in Mettler-Toledo International by 8.0% during the third quarter. National Pension Service now owns 34,039 shares of the medical instruments supplier's stock worth $51,048,000 after purchasing an additional 2,521 shares during the period. Hedge funds and other institutional investors own 95.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Mettler-Toledo International in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $1,400.00 target price on the stock. Stifel Nicolaus lifted 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. Evercore ISI boosted their target price on Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the stock an "in-line" rating in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their price target on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $1,363.75.

Mettler-Toledo International Price Performance

Shares of MTD traded down $101.49 during mid-day trading on Friday, reaching $1,310.03. The company's stock had a trading volume of 254,186 shares, compared to its average volume of 119,785. The company's 50 day moving average is $1,398.01 and its 200 day moving average is $1,400.25. The stock has a market cap of $27.80 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 4.09 and a beta of 1.16. Mettler-Toledo International Inc. has a 12-month low of $953.28 and a 12-month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 EPS for the quarter, beating the consensus estimate of $10.00 by $0.21. The company had revenue of $954.54 million for the quarter, compared to analyst estimates of $941.93 million. Mettler-Toledo International had a net margin of 20.95% and a negative return on equity of 575.61%. As a group, sell-side analysts anticipate that Mettler-Toledo International Inc. will post 40.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Christian Magloth sold 1,000 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total value 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 $1,044,459.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International 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.