September 10, 2023 – Investment management firm Douglass Winthrop Advisors LLC has reduced its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 2.3%, according to the company’s recent filing with the Securities & Exchange Commission. The firm now owns 61,996 shares of the medical instruments supplier’s stock, after selling 1,450 shares during the first quarter of this year. This reduction means that Mettler-Toledo International accounts for approximately 2.5% of Douglass Winthrop Advisors’ portfolio and is now considered their 14th largest holding. At the end of the most recent quarter, the value of Douglass Winthrop Advisors’ stake in Mettler-Toledo International amounted to $94,867,000.
Mettler-Toledo International recently announced its earnings results for the second quarter ending July 27th. The company reported earnings per share (EPS) of $10.19 for this period, surpassing analysts’ expectations of $9.99 by a margin of $0.20. The revenue generated during this period totaled $982.12 million, slightly below analysts’ predictions which estimated revenue at $1 billion. Despite these figures, Mettler-Toledo International demonstrated a negative return on equity of 2,136.23% and a net margin of 22.48%. Analysts anticipate that Mettler-Toledo International Inc., as a whole, will post an EPS of 40.63 for the current fiscal year.
As a leading manufacturer and supplier of precision instruments and services globally, Mettler-Toledo International operates through five segments: U.S Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other operations abroad. Its product offerings encompass laboratory instruments such as balances, pipetting solutions, reactors, titrators, pH meters, analyzers sensors and technologies; analytical instruments including density and refractometry tools, thermal analysis systems, and other analytical instruments. Additionally, the company provides LabX, a laboratory software platform designed to manage and analyze data generated from its various instruments.
During the first quarter of this year, investment firm Douglass Winthrop Advisors LLC reduced its holdings in Mettler-Toledo International, resulting in a decrease of their ownership by 2.3%. However, Mettler-Toledo International’s strong performance in the second quarter with earnings per share surpassing estimates showcases the company’s ability to outperform market expectations. With its diverse range of precision instruments and services catering to several industries globally, Mettler-Toledo International continues to hold a significant position in the marketplace.
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Mettler-Toledo International (NYSE:MTD) Attracts Hedge Funds and Institutional Investors with Increased Stakes
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”FITB” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]September 10, 2023 – Hedge funds and institutional investors continue to show interest in Mettler-Toledo International (NYSE:MTD) as they modify their holdings of the company’s stock. Recent reports indicate that Albion Financial Group UT has increased its stake in MTD by 1.3% during the first quarter, acquiring an additional 7 shares which now amount to a total ownership of 558 shares valued at $854,000. Sequoia Financial Advisors LLC also saw an increase of 2.2% in their stake, owning 327 shares worth $500,000 after acquiring an additional 7 shares.
In addition, Alliance Wealth Advisors LLC UT raised its stake by 2.8%, now holding 259 shares valued at $396,000 following the acquisition of an additional 7 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake by 1.9%, now owning 435 shares amounting to a total value of $472,000 after acquiring an additional 8 shares during the same period. Ronald Blue Trust Inc. recorded the highest increase with a staggering growth of 72.7% in their stake during the first quarter; currently, they own just 19 shares but valued at $28,000 following the acquisition of an additional 8 shares.
It is noteworthy to mention that hedge funds and other institutional investors collectively own a strikingly significant portion of Mettler-Toledo International’s stock—approximately 93.11%. This reflects the confidence these entities have in the company’s overall performance and future prospects.
Shares of MTD traded down on Friday at $1,130.70 after facing a decrease of $31.37 compared to previous trading sessions. The volume for that day amounted to approximately 154,116 shares exchanged hands, slightly higher than its average daily volume of around 136,232.
The business observes a simple moving average of $1,257.79 over a 50-day period and has recorded a 200-day simple moving average of $1,365.94. Mettler-Toledo International Inc., a medical instruments supplier and manufacturer, faces a 52-week low of $1,065.55 and a high of $1,615.97. The company currently boasts a market capitalization of $24.72 billion, with a price-to-earnings ratio of 28.42 and a price-to-earnings-growth ratio of 3.01, exhibiting their relative stability within the market.
Furthermore, the company maintains a current ratio of 1.24 along with a quick ratio of 0.84, demonstrating its liquidity position in relation to its short-term obligations. However, it is interesting to note that the debt-to-equity ratio for MTD stands at an unusually high percentage of 76.98.
Several research firms have provided their assessments on MTD in recent times as well. StockNews.com recently upgraded its rating for the company from “hold” to “buy” in light of positive developments surrounding it on August 25th. Conversely, TheStreet downgraded MTD’s rating from “b-” to “c+” in another research note issued on August 15th.
Robert W. Baird also reduced their target price for MTD from $1,454.00 to $1,366.00 in yet another research note released on July 28th.
Lastly, Wells Fargo & Company lowered their target price for MTD from $1,660.00 to $1,520.00 while maintaining an “overweight” rating on the stock according to reports issued on July 31st.
Overall sentiment towards MTD appears varied among investment analysts; four have rated the stock as “hold,” while two have given it a “buy” rating.
According to Bloomberg, the average rating for MTD is currently at “Hold” with a consensus price target of $1,470.14 according to analysts’ predictions.
To stay updated on Mettler-Toledo International (NYSE:MTD), be sure to read our latest report on the company’s performance and future prospects.
Disclaimer: The views expressed are solely that of the author and do not necessarily reflect the opinions or recommendations of any research firms or institutions. Investors should conduct their due diligence before making any investment decisions.
