Arizona State Retirement System lessened its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,234 shares of the medical instruments supplier’s stock after selling 133 shares during the quarter. Arizona State Retirement System’s holdings in Mettler-Toledo International were worth $5,623,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in Mettler-Toledo International by 306.7% in the 2nd quarter. Captrust Financial Advisors now owns 183 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 138 shares during the last quarter. IFP Advisors Inc grew its stake in Mettler-Toledo International by 603.7% in the 3rd quarter. IFP Advisors Inc now owns 190 shares of the medical instruments supplier’s stock valued at $116,000 after acquiring an additional 163 shares during the last quarter. Cornerstone Advisors Inc. grew its stake in Mettler-Toledo International by 7,233.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 220 shares of the medical instruments supplier’s stock valued at $127,000 after acquiring an additional 217 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Mettler-Toledo International in the 2nd quarter valued at about $167,000. Finally, First Hawaiian Bank acquired a new stake in Mettler-Toledo International in the 3rd quarter valued at about $204,000. Institutional investors and hedge funds own 92.37% of the company’s stock.
In other Mettler-Toledo International news, insider William P. Donnelly sold 500 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $570.00, for a total transaction of $285,000.00. Following the sale, the insider now directly owns 1,500 shares of the company’s stock, valued at approximately $855,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider La Guerroniere Marc De sold 4,609 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $580.37, for a total transaction of $2,674,925.33. Following the sale, the insider now directly owns 4,609 shares in the company, valued at $2,674,925.33. The disclosure for this sale can be found here. Insiders have sold a total of 15,358 shares of company stock worth $8,974,004 over the last ninety days. 4.80% of the stock is owned by corporate insiders.
A number of brokerages recently commented on MTD. Zacks Investment Research cut shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Morgan Stanley increased their price objective on shares of Mettler-Toledo International from $529.00 to $572.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 10th. UBS Group began coverage on shares of Mettler-Toledo International in a research note on Tuesday, October 9th. They issued a “neutral” rating and a $625.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Mettler-Toledo International from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Mettler-Toledo International currently has an average rating of “Hold” and an average price target of $624.00.
Mettler-Toledo International stock opened at $573.98 on Tuesday. Mettler-Toledo International Inc. has a 12-month low of $521.79 and a 12-month high of $697.26. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 32.77, a PEG ratio of 2.28 and a beta of 1.15. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.06 and a current ratio of 1.46.
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About Mettler-Toledo International
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; analytical instruments for use in life science; various related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development; and end-of-line product inspection systems used in production and packaging for food processing and packaging, pharmaceutical, packaged consumer goods, and other industries.
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