Pinebridge Investments L.P. Reduces Stock Position in Mettler-Toledo International Inc. (NYSE:MTD)

Pinebridge Investments L.P. lowered its stake in Mettler-Toledo International Inc. (NYSE:MTD - Free Report) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,679 shares of the medical instruments supplier's stock after selling 5,166 shares during the quarter. Pinebridge Investments L.P. owned 0.08% of Mettler-Toledo International worth $20,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MTD. Norges Bank purchased a new position in shares of Mettler-Toledo International during the 4th quarter worth $320,847,000. Principal Financial Group Inc. boosted its stake in shares of Mettler-Toledo International by 65.4% during the 4th quarter. Principal Financial Group Inc. now owns 241,219 shares of the medical instruments supplier's stock worth $292,589,000 after acquiring an additional 95,421 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Mettler-Toledo International by 109,458.1% during the 4th quarter. International Assets Investment Management LLC now owns 67,926 shares of the medical instruments supplier's stock worth $82,392,000 after acquiring an additional 67,864 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Mettler-Toledo International by 854.0% during the 4th quarter. Corient Private Wealth LLC now owns 74,707 shares of the medical instruments supplier's stock worth $90,617,000 after acquiring an additional 66,876 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Mettler-Toledo International by 142.1% during the 4th quarter. TD Asset Management Inc now owns 100,820 shares of the medical instruments supplier's stock worth $122,291,000 after acquiring an additional 59,177 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company's stock.

Insiders Place Their Bets

In other Mettler-Toledo International news, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction on Monday, May 13th. The shares were sold at an average price of $1,457.07, for a total value of $437,121.00. Following the completion of the transaction, the chief financial officer now directly owns 4,914 shares of the company's stock, valued at approximately $7,160,041.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gerry Keller sold 310 shares of Mettler-Toledo International stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $1,511.56, for a total transaction of $468,583.60. Following the completion of the transaction, the insider now directly owns 6 shares of the company's stock, valued at approximately $9,069.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Shawn Vadala sold 300 shares of Mettler-Toledo International stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $1,457.07, for a total transaction of $437,121.00. Following the transaction, the chief financial officer now directly owns 4,914 shares of the company's stock, valued at $7,160,041.98. The disclosure for this sale can be found here. Insiders sold 3,278 shares of company stock valued at $4,871,849 in the last three months. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International Stock Up 3.3 %

NYSE MTD traded up $46.76 on Wednesday, reaching $1,453.59. The company had a trading volume of 139,181 shares, compared to its average volume of 143,598. The stock has a market capitalization of $31.04 billion, a PE ratio of 40.76, a price-to-earnings-growth ratio of 3.76 and a beta of 1.20. The firm's 50 day moving average price is $1,344.18 and its 200 day moving average price is $1,250.92. Mettler-Toledo International Inc. has a 12 month low of $928.49 and a 12 month high of $1,535.86.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $8.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.61 by $1.28. The company had revenue of $925.95 million for the quarter, compared to the consensus estimate of $879.72 million. Mettler-Toledo International had a net margin of 20.55% and a negative return on equity of 662.32%. Mettler-Toledo International's revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.69 EPS. On average, research analysts expect that Mettler-Toledo International Inc. will post 40.11 EPS for the current year.

Wall Street Analyst Weigh In

MTD has been the topic of several analyst reports. StockNews.com upgraded shares of Mettler-Toledo International from a "hold" rating to a "buy" rating in a research note on Monday, April 29th. Evercore ISI raised their price objective on shares of Mettler-Toledo International from $1,200.00 to $1,300.00 and gave the company an "in-line" rating in a research report on Thursday, April 4th. Citigroup raised their price objective on shares of Mettler-Toledo International from $975.00 to $1,200.00 and gave the company a "sell" rating in a research report on Monday, May 13th. Jefferies Financial Group restated an "underperform" rating and set a $1,250.00 price objective (up from $1,230.00) on shares of Mettler-Toledo International in a research report on Monday. Finally, Robert W. Baird raised their price objective on shares of Mettler-Toledo International from $1,212.00 to $1,360.00 and gave the company a "neutral" rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Mettler-Toledo International currently has a consensus rating of "Hold" and a consensus price target of $1,256.25.

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.Its industrial instruments comprise industrial weighing instruments and related terminals, automatic dimensional measurement and data capture solutions, vehicle scale systems, industrial software, metal detection equipment, x-ray systems, check weighing equipment, camera-based imaging equipment, track-and-trace solutions, and product inspection systems.

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