Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
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Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities
Market Information for Common Stock
Our common stock is traded on the New York Stock Exchange under the symbol “MTD.” The following table sets forth on a per share basis the high and low sales prices for consolidated trading in our common stock as reported on the New York Stock Exchange Composite Tape for the quarters indicated.
| Common Stock Price Range | |||||||
| High | Low | ||||||
| 2014 | |||||||
| Fourth Quarter | $ | 305.89 | $ | 233.85 | |||
| Third Quarter | $ | 272.84 | $ | 249.99 | |||
| Second Quarter | $ | 253.18 | $ | 223.80 | |||
| First Quarter | $ | 255.85 | $ | 231.19 | |||
| 2013 | |||||||
| Fourth Quarter | $ | 253.27 | $ | 233.71 | |||
| Third Quarter | $ | 242.56 | $ | 205.55 | |||
| Second Quarter | $ | 228.00 | $ | 197.91 | |||
| First Quarter | $ | 221.56 | $ | 196.72 |
Holders
At January 31, 2015, there were 61 holders of record of common stock and 28,127,235 shares of common stock outstanding. We estimate we have approximately 34,757 beneficial owners of common stock.
Dividend Policy
Historically, we have not paid dividends on our common stock. However, we will evaluate this policy on a periodic basis taking into account our results of operations, financial condition, capital requirements, including potential acquisitions, our share repurchase program, the taxation of dividends to our shareholders, and other factors deemed relevant by our Board of Directors.
Share Performance Graph
The following graph compares the cumulative total returns (assuming reinvestment of dividends) on $100 invested on December 31, 2009 through December 31, 2014 in our common stock, the Standard & Poor’s 500 Composite Stock Index (S&P 500 Index) and the SIC Code 3826 Index — Laboratory Analytical Instruments.
Comparison of Cumulative Total Return Among Mettler-Toledo International Inc., the
S&P 500 Index and SIC Code 3826 Index — Laboratory Analytical Instruments

| 12-31-09 | 12-31-10 | 12-31-11 | 12-31-12 | 12-31-13 | 12-31-14 | |
| Mettler-Toledo | $100 | $144 | $141 | $184 | $231 | $288 |
| S&P 500 Index | $100 | $115 | $117 | $136 | $180 | $205 |
| SIC Code 3826 Index | $100 | $128 | $105 | $138 | $210 | $241 |
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
Issuer Purchases of Equity Securities
| Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Program | Approximate Dollar Value (in thousands) of Shares that may yet be Purchased under the Program | |||||||||||
| Period | ||||||||||||||
| October 1 to October 31, 2014 | 149,554 | $ | 246.60 | 149,554 | $ | 559,017 | ||||||||
| November 1 to November 30, 2014 | 129,835 | 276.81 | 129,835 | 523,075 | ||||||||||
| December 1 to December 31, 2014 | 151,895 | 294.25 | 151,895 | 478,376 | ||||||||||
| Total | 431,284 | $ | 272.48 | 431,284 | $ | 478,376 |
We have a $3 billion share repurchase program, of which there was $478.4 million remaining to be repurchased under the program as of December 31, 2014. The share repurchases are expected to be funded from existing cash balances, borrowings, and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of repurchases will depend on business and market conditions, stock price, trading restrictions, the level of acquisition activity, and other factors.
We have purchased 23.1 million common shares since the inception of the program in 2004 through December 31, 2014, at a total cost of $2.5 billion. During the years ended December 31, 2014 and 2013, we spent $414.0 million and $295.0 million on the repurchase of 1,617,499 shares and 1,321,577 shares at an average price per share of $255.93 and $223.18, respectively.
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