Allspring Global Investments Holdings LLC Sells 181 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Allspring Global Investments Holdings LLC reduced its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 14.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the medical instruments supplier’s stock after selling 181 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Mettler-Toledo International were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of Mettler-Toledo International by 169.4% during the 1st quarter. Bank of New York Mellon Corp now owns 573,702 shares of the medical instruments supplier’s stock valued at $763,764,000 after buying an additional 360,786 shares in the last quarter. Norges Bank purchased a new stake in Mettler-Toledo International during the fourth quarter valued at about $320,847,000. PineStone Asset Management Inc. lifted its stake in Mettler-Toledo International by 127.4% during the second quarter. PineStone Asset Management Inc. now owns 259,629 shares of the medical instruments supplier’s stock worth $362,855,000 after purchasing an additional 145,453 shares during the last quarter. Capital International Investors lifted its stake in Mettler-Toledo International by 15.1% during the first quarter. Capital International Investors now owns 1,075,420 shares of the medical instruments supplier’s stock worth $1,431,696,000 after purchasing an additional 141,431 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Mettler-Toledo International by 65.4% in the 4th quarter. Principal Financial Group Inc. now owns 241,219 shares of the medical instruments supplier’s stock worth $292,589,000 after purchasing an additional 95,421 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Mettler-Toledo International Stock Performance

MTD stock opened at $1,398.06 on Wednesday. The firm has a 50 day moving average price of $1,400.29 and a 200-day moving average price of $1,361.57. Mettler-Toledo International Inc. has a 52-week low of $928.49 and a 52-week high of $1,546.93. The firm has a market capitalization of $29.86 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 3.84 and a beta of 1.17.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.00 by $0.65. Mettler-Toledo International had a negative return on equity of 575.61% and a net margin of 20.95%. The business had revenue of $946.75 million during the quarter, compared to analysts’ expectations of $929.13 million. During the same quarter in the previous year, the business earned $10.19 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Mettler-Toledo International Inc. will post 40.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mettler-Toledo International news, CFO Shawn Vadala sold 250 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 4,914 shares in the company, valued at approximately $6,884,514. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Shawn Vadala sold 250 shares of the 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 sale, the chief financial officer now owns 4,914 shares in the company, valued at $6,884,514. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian Magloth sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $1,422.97, for a total transaction of $1,422,970.00. Following the completion of the transaction, the insider now owns 734 shares of the company’s stock, valued at $1,044,459.98. The disclosure for this sale can be found here. 1.94% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Evercore ISI boosted their target price on Mettler-Toledo International from $1,375.00 to $1,390.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $1,250.00 price objective (up previously from $1,230.00) on shares of Mettler-Toledo International in a research note on Monday, June 3rd. Citigroup lifted their target price on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the stock a “sell” rating in a research report on Monday, May 13th. StockNews.com raised shares of Mettler-Toledo International from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. raised their price objective on Mettler-Toledo International from $1,300.00 to $1,400.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $1,356.25.

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.