Mettler-Toledo International Inc. (NYSE:MTD) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 610.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,462 shares of the medical instruments supplier’s stock after purchasing an additional 28,752 shares during the quarter. Retirement Systems of Alabama owned approximately 0.16% of Mettler-Toledo International worth $50,183,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Mettler-Toledo International by 1.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,158 shares of the medical instruments supplier’s stock worth $1,619,000 after acquiring an additional 14 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Mettler-Toledo International in the second quarter worth $802,000. Parsons Capital Management Inc. RI grew its holdings in Mettler-Toledo International by 7.2% during the second quarter. Parsons Capital Management Inc. RI now owns 2,681 shares of the medical instruments supplier’s stock worth $3,747,000 after purchasing an additional 180 shares during the period. Carnegie Investment Counsel increased its position in Mettler-Toledo International by 0.8% during the second quarter. Carnegie Investment Counsel now owns 13,963 shares of the medical instruments supplier’s stock worth $19,514,000 after acquiring an additional 109 shares during the period. Finally, Walter Public Investments Inc. increased its stake in Mettler-Toledo International by 26.6% in the second quarter. Walter Public Investments Inc. now owns 10,453 shares of the medical instruments supplier’s stock valued at $14,609,000 after acquiring an additional 2,194 shares during the last quarter. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mettler-Toledo International

In related news, Director Elisha W. Finney sold 76 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the completion of the transaction, the director now directly owns 240 shares in the company, valued at $314,820. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gerry Keller sold 140 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total transaction of $175,572.60. Following the completion of the sale, the insider now owns 6 shares of the company’s stock, valued at $7,524.54. This trade represents a 95.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

MTD traded down $5.03 during midday trading on Friday, reaching $1,271.89. 15,293 shares of the company were exchanged, compared to its average volume of 135,036. The stock’s 50-day simple moving average is $1,309.36 and its 200 day simple moving average is $1,378.81. Mettler-Toledo International Inc. has a one year low of $1,115.64 and a one year high of $1,546.93. The stock has a market capitalization of $26.84 billion, a P/E ratio of 34.43, a PEG ratio of 4.19 and a beta of 1.13.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping analysts’ consensus estimates of $10.00 by $0.21. The business had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. On average, research analysts anticipate that Mettler-Toledo International Inc. will post 40.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MTD shares. Wells Fargo & Company decreased their price objective on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Citigroup raised Mettler-Toledo International from a “sell” rating to a “neutral” rating and increased their price objective for the company from $1,200.00 to $1,300.00 in a research note on Wednesday. Evercore ISI lifted their target price on shares of Mettler-Toledo International from $1,375.00 to $1,450.00 and gave the company an “in-line” rating in a report on Tuesday, October 1st. Stifel Nicolaus lowered their target price on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Robert W. Baird reduced their price target on shares of Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $1,351.25.

Mettler-Toledo International Company 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.