Allstate Corp Acquires Shares of 624 Mettler-Toledo International Inc. (NYSE:MTD)

Allstate Corp acquired a new position in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 624 shares of the medical instruments supplier's stock, valued at approximately $764,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MTD. Farther Finance Advisors LLC boosted its holdings in shares of Mettler-Toledo International by 14.3% during the fourth quarter. Farther Finance Advisors LLC now owns 64 shares of the medical instruments supplier's stock worth $78,000 after purchasing an additional 8 shares during the period. Townsquare Capital LLC boosted its stake in shares of Mettler-Toledo International by 2.0% during the 3rd quarter. Townsquare Capital LLC now owns 462 shares of the medical instruments supplier's stock valued at $693,000 after buying an additional 9 shares during the period. M3 Advisory Group LLC grew its holdings in shares of Mettler-Toledo International by 5.8% during the 4th quarter. M3 Advisory Group LLC now owns 165 shares of the medical instruments supplier's stock valued at $202,000 after acquiring an additional 9 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Mettler-Toledo International by 2.5% in the fourth quarter. Apollon Wealth Management LLC now owns 368 shares of the medical instruments supplier's stock worth $451,000 after acquiring an additional 9 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Mettler-Toledo International by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 306 shares of the medical instruments supplier's stock worth $374,000 after acquiring an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

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Insider Activity at Mettler-Toledo International

In other news, insider Gerry Keller sold 600 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the sale, the insider now directly owns 6 shares in the company, valued at approximately $8,108.04. The trade was a 99.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christian Magloth sold 790 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the transaction, the insider now directly owns 734 shares of the company's stock, valued at approximately $964,248.46. This trade represents a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MTD. Citigroup lowered their target price on Mettler-Toledo International from $1,450.00 to $1,400.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their price target on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an "equal weight" rating in a research note on Monday, February 10th. Robert W. Baird increased their price objective on Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Evercore ISI lifted their target price on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Finally, Wolfe Research began coverage on shares of Mettler-Toledo International in a research report on Friday, December 13th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $1,380.50.

Mettler-Toledo International Stock Performance

Shares of Mettler-Toledo International stock traded down $73.27 on Friday, reaching $1,021.97. The stock had a trading volume of 424,774 shares, compared to its average volume of 133,519. Mettler-Toledo International Inc. has a fifty-two week low of $1,000.72 and a fifty-two week high of $1,546.93. The business's 50-day moving average price is $1,264.13 and its two-hundred day moving average price is $1,294.45. The stock has a market cap of $21.30 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 3.30 and a beta of 1.28.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. As a group, equities analysts forecast that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.

Mettler-Toledo International 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.