Kayne Anderson Rudnick Investment Management LLC Sells 2,669 Shares of Mettler-Toledo International Inc. (NYSE:MTD)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,460 shares of the medical instruments supplier's stock after selling 2,669 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.24% of Mettler-Toledo International worth $61,748,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Mettler-Toledo International by 14.7% in the 3rd 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. M&T Bank Corp lifted its position in Mettler-Toledo International by 14.3% in the 3rd quarter. M&T Bank Corp now owns 4,926 shares of the medical instruments supplier's stock valued at $7,387,000 after purchasing an additional 615 shares during the last quarter. Allworth Financial LP raised its stake in Mettler-Toledo International by 367.4% during the 4th quarter. Allworth Financial LP now owns 215 shares of the medical instruments supplier's stock valued at $285,000 after acquiring an additional 169 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Mettler-Toledo International by 29.8% in the fourth quarter. Nordea Investment Management AB now owns 105,823 shares of the medical instruments supplier's stock valued at $129,919,000 after buying an additional 24,285 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Mettler-Toledo International by 18.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,370 shares of the medical instruments supplier's stock worth $42,058,000 after purchasing an additional 5,234 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company's stock.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, insider Gerry Keller sold 600 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the completion of the transaction, the insider now owns 6 shares of the company's stock, valued at $8,108.04. The trade was a 99.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian Magloth sold 790 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the sale, the insider now directly owns 734 shares in the company, valued at approximately $964,248.46. This 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 company insiders.

Wall Street Analyst Weigh In

MTD has been the topic of several recent research reports. Evercore ISI lifted their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Robert W. Baird reduced their price objective on shares of Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their target price on shares of Mettler-Toledo International from $1,400.00 to $1,125.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Mettler-Toledo International currently has a consensus rating of "Hold" and an average target price of $1,304.25.

Mettler-Toledo International Trading Down 1.2 %

MTD stock traded down $12.48 during mid-day trading on Friday, hitting $1,062.52. The stock had a trading volume of 165,723 shares, compared to its average volume of 142,983. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 3.30 and a beta of 1.28. Mettler-Toledo International Inc. has a 1-year low of $946.69 and a 1-year high of $1,546.93. The company has a fifty day moving average of $1,164.25 and a 200 day moving average of $1,249.32.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that Mettler-Toledo International Inc. will post 42.71 earnings per share for the current fiscal year.

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.