Nordea Investment Management AB raised its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 65.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,599 shares of the medical instruments supplier’s stock after buying an additional 14,805 shares during the quarter. Nordea Investment Management AB owned about 0.15% of Mettler-Toledo International worth $21,266,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of MTD. Lindbrook Capital LLC purchased a new position in shares of Mettler-Toledo International during the fourth quarter worth about $27,000. Executive Wealth Management LLC purchased a new position in shares of Mettler-Toledo International during the fourth quarter worth about $33,000. CWM LLC grew its holdings in shares of Mettler-Toledo International by 108.9% during the fourth quarter. CWM LLC now owns 94 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 49 shares in the last quarter. First Personal Financial Services grew its holdings in shares of Mettler-Toledo International by 38.2% during the fourth quarter. First Personal Financial Services now owns 94 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 26 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Mettler-Toledo International by 36.6% during the fourth quarter. Van ECK Associates Corp now owns 97 shares of the medical instruments supplier’s stock worth $55,000 after purchasing an additional 26 shares in the last quarter. 95.69% of the stock is owned by institutional investors and hedge funds.
MTD stock traded up $13.51 during midday trading on Friday, hitting $728.73. The company had a trading volume of 147,029 shares, compared to its average volume of 125,082. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.06 and a current ratio of 1.42. Mettler-Toledo International Inc. has a 52 week low of $500.74 and a 52 week high of $750.00. The company has a market capitalization of $18.10 billion, a P/E ratio of 35.86, a PEG ratio of 2.56 and a beta of 1.35.
Several analysts have issued reports on MTD shares. Evercore ISI lowered Mettler-Toledo International from an “in-line” rating to an “underperform” rating in a research note on Thursday, January 3rd. Bank of America lowered Mettler-Toledo International from a “buy” rating to a “neutral” rating and set a $546.04 target price for the company. in a research note on Thursday, January 3rd. ValuEngine lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Zacks Investment Research lowered Mettler-Toledo International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $650.67.
In related news, Director Wah-Hui Chu sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $692.50, for a total transaction of $692,500.00. Following the completion of the transaction, the director now owns 3,854 shares in the company, valued at $2,668,895. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Gerry Keller sold 250 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $664.50, for a total value of $166,125.00. Following the transaction, the insider now owns 404 shares of the company’s stock, valued at approximately $268,458. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,995 shares of company stock valued at $100,997,450. 3.50% of the stock is owned by corporate insiders.
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Mettler-Toledo International Profile
Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. The company operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. It offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; metal detection and other end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries; and solutions that are used in various process analytics applications.
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