Solidarity Wealth LLC Has $5.63 Million Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Solidarity Wealth LLC raised its position in Mettler-Toledo International Inc. (NYSE:MTD) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,599 shares of the medical instruments supplier’s stock after acquiring an additional 40 shares during the period. Mettler-Toledo International makes up about 1.5% of Solidarity Wealth LLC’s holdings, making the stock its 22nd largest position. Solidarity Wealth LLC’s holdings in Mettler-Toledo International were worth $5,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Mettler-Toledo International by 14.7% in the third quarter. JPMorgan Chase & Co. now owns 221,799 shares of the medical instruments supplier’s stock valued at $332,634,000 after purchasing an additional 28,478 shares in the last quarter. Quest Partners LLC lifted its holdings in Mettler-Toledo International by 878.1% during the third quarter. Quest Partners LLC now owns 1,027 shares of the medical instruments supplier’s stock worth $1,540,000 after acquiring an additional 922 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Mettler-Toledo International by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,240 shares of the medical instruments supplier’s stock worth $1,860,000 after acquiring an additional 152 shares during the period. M&T Bank Corp lifted its holdings in Mettler-Toledo International by 14.3% during the third quarter. M&T Bank Corp now owns 4,926 shares of the medical instruments supplier’s stock worth $7,387,000 after acquiring an additional 615 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Mettler-Toledo International by 29.8% during the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier’s stock worth $129,919,000 after acquiring an additional 24,285 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gerry Keller sold 140 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $1,254.09, for a total value of $175,572.60. Following the completion of the transaction, the insider now owns 6 shares of the company’s stock, valued at approximately $7,524.54. This represents a 95.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elisha W. Finney sold 76 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $1,311.75, for a total value of $99,693.00. Following the completion of the transaction, the director now directly owns 240 shares of the company’s stock, valued at $314,820. This represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

NYSE MTD opened at $1,295.77 on Tuesday. Mettler-Toledo International Inc. has a fifty-two week low of $1,133.46 and a fifty-two week high of $1,546.93. The stock has a 50 day simple moving average of $1,241.52 and a two-hundred day simple moving average of $1,343.99. The stock has a market cap of $27.34 billion, a P/E ratio of 34.94, a price-to-earnings-growth ratio of 4.10 and a beta of 1.12.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on MTD. Wells Fargo & Company dropped their price target on Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Stifel Nicolaus dropped their price target on Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Wolfe Research assumed coverage on Mettler-Toledo International in a research note on Friday, December 13th. They set a “peer perform” rating on the stock. Evercore ISI upgraded Mettler-Toledo International from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $1,375.00 to $1,450.00 in a research note on Thursday, January 2nd. Finally, Robert W. Baird decreased their price objective on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mettler-Toledo International presently has a consensus rating of “Hold” and an average price target of $1,351.25.

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.