Bank of New York Mellon Corp decreased its stake in Mettler-Toledo International, Inc. (NYSE:MTD) by 22.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 301,766 shares of the medical instruments supplier’s stock after selling 88,843 shares during the period. Bank of New York Mellon Corp owned approximately 1.18% of Mettler-Toledo International worth $177,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MTD. State of Alaska Department of Revenue raised its position in shares of Mettler-Toledo International by 0.5% in the second quarter. State of Alaska Department of Revenue now owns 1,087 shares of the medical instruments supplier’s stock valued at $639,000 after buying an additional 5 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Mettler-Toledo International by 1.3% in the second quarter. Contravisory Investment Management Inc. now owns 558 shares of the medical instruments supplier’s stock valued at $328,000 after buying an additional 7 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Mettler-Toledo International by 2.5% in the first quarter. Pacer Advisors Inc. now owns 454 shares of the medical instruments supplier’s stock valued at $217,000 after buying an additional 11 shares in the last quarter. 1st Global Advisors Inc. raised its position in shares of Mettler-Toledo International by 0.7% in the first quarter. 1st Global Advisors Inc. now owns 1,812 shares of the medical instruments supplier’s stock valued at $868,000 after buying an additional 13 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Mettler-Toledo International by 2.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 700 shares of the medical instruments supplier’s stock valued at $313,000 after buying an additional 14 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

Mettler-Toledo International, Inc. (MTD) opened at 574.64 on Monday. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 35.34 and a beta of 1.13. Mettler-Toledo International, Inc. has a 1-year low of $386.01 and a 1-year high of $618.13. The firm has a 50 day moving average of $589.28 and a 200-day moving average of $534.75.

Mettler-Toledo International (NYSE:MTD) last released its earnings results on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.89 by $0.03. The firm had revenue of $653.70 million for the quarter, compared to the consensus estimate of $646.68 million. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.22 EPS. On average, equities research analysts anticipate that Mettler-Toledo International, Inc. will post $16.89 earnings per share for the current fiscal year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $655.00 target price on the stock in a research note on Wednesday, June 14th. BidaskClub lowered shares of Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Wells Fargo & Company raised shares of Mettler-Toledo International from a “market perform” rating to an “outperform” rating in a research note on Wednesday, July 12th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $565.00 target price (up from $533.00) on shares of Mettler-Toledo International in a research note on Saturday, July 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $569.80.

In other news, Director Wah-Hui Chu sold 500 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $585.00, for a total value of $292,500.00. Following the sale, the director now directly owns 3,243 shares of the company’s stock, valued at approximately $1,897,155. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert F. Spoerry sold 6,200 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $570.00, for a total transaction of $3,534,000.00. Following the completion of the sale, the director now directly owns 6,454 shares in the company, valued at $3,678,780. The disclosure for this sale can be found here. Insiders sold a total of 19,286 shares of company stock worth $11,134,619 over the last ninety days. Insiders own 5.20% of the company’s stock.

About Mettler-Toledo International

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.

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

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