Engineers Gate Manager LP lowered its holdings in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 33.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,175 shares of the medical instruments supplier’s stock after selling 3,036 shares during the quarter. Engineers Gate Manager LP’s holdings in Mettler-Toledo International were worth $7,889,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the business. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Mettler-Toledo International in the first quarter valued at about $26,372,000. Fifth Third Bancorp grew its holdings in Mettler-Toledo International by 377.3% during the 1st quarter. Fifth Third Bancorp now owns 4,181 shares of the medical instruments supplier’s stock worth $5,272,000 after acquiring an additional 3,305 shares during the last quarter. SEB Asset Management AB acquired a new stake in Mettler-Toledo International in the 1st quarter valued at about $15,889,000. Assenagon Asset Management S.A. raised its stake in shares of Mettler-Toledo International by 161.1% in the second quarter. Assenagon Asset Management S.A. now owns 33,608 shares of the medical instruments supplier’s stock worth $42,935,000 after acquiring an additional 20,736 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mettler-Toledo International by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 106,023 shares of the medical instruments supplier’s stock worth $133,712,000 after acquiring an additional 4,340 shares during the last quarter. Institutional investors own 95.07% of the company’s stock.
Mettler-Toledo International Stock Performance
MTD stock opened at $1,280.76 on Friday. Mettler-Toledo International, Inc. has a twelve month low of $1,023.05 and a twelve month high of $1,525.17. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 159.45. The company has a market cap of $25.67 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 2.59 and a beta of 1.22. The business’s fifty day moving average is $1,363.52 and its 200-day moving average is $1,272.42.
Analysts Set New Price Targets
Several research firms have recently commented on MTD. UBS Group assumed coverage on shares of Mettler-Toledo International in a research note on Wednesday. They set a “neutral” rating and a $1,460.00 price target on the stock. Barclays upped their price objective on Mettler-Toledo International from $1,300.00 to $1,575.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley boosted their target price on Mettler-Toledo International from $1,275.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Stifel Nicolaus raised their price target on Mettler-Toledo International from $1,400.00 to $1,600.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on Mettler-Toledo International from $1,225.00 to $1,450.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and a consensus price target of $1,446.36.
Get Our Latest Analysis on MTD
Insider Buying and Selling
In related news, CFO Shawn Vadala sold 2,240 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1,432.00, for a total value of $3,207,680.00. Following the sale, the chief financial officer directly owned 5,579 shares in the company, valued at $7,989,128. This trade represents a 28.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Patrick Kaltenbach sold 942 shares of Mettler-Toledo International stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $1,425.00, for a total transaction of $1,342,350.00. Following the transaction, the chief executive officer directly owned 4,480 shares in the company, valued at $6,384,000. The trade was a 17.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,254 shares of company stock worth $6,092,712 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.
About Mettler-Toledo International
Mettler-Toledo International Inc develops and manufactures precision instruments and related services for laboratory, industrial and retail applications. Its products include laboratory balances and scales, analytical instruments, pipettes, automated chemistry systems, titration and thermal analysis equipment, and process analytics solutions.
The company also provides industrial weighing and measurement systems, product inspection technologies such as metal detection, checkweighing and vision inspection, and software and services that support manufacturing, quality control and regulatory compliance.
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