Veritable L.P. lessened its holdings in Mettler-Toledo International Inc. (NYSE:MTD) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,016 shares of the medical instruments supplier’s stock after selling 159 shares during the period. Veritable L.P.’s holdings in Mettler-Toledo International were worth $1,693,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Comerica Securities Inc. grew its position in Mettler-Toledo International by 48.6% in the fourth quarter. Comerica Securities Inc. now owns 670 shares of the medical instruments supplier’s stock valued at $379,000 after acquiring an additional 219 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Mettler-Toledo International by 10.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 119,951 shares of the medical instruments supplier’s stock worth $67,839,000 after purchasing an additional 11,654 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mettler-Toledo International by 6.2% during the fourth quarter. Geode Capital Management LLC now owns 345,645 shares of the medical instruments supplier’s stock worth $195,168,000 after purchasing an additional 20,079 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Mettler-Toledo International during the first quarter worth about $203,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Mettler-Toledo International by 84.3% during the first quarter. Quadrant Capital Group LLC now owns 94 shares of the medical instruments supplier’s stock worth $65,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.
MTD traded down $1.51 during trading on Friday, hitting $684.27. The company’s stock had a trading volume of 7,121 shares, compared to its average volume of 190,187. Mettler-Toledo International Inc. has a twelve month low of $500.74 and a twelve month high of $873.51. The company has a quick ratio of 0.98, a current ratio of 1.39 and a debt-to-equity ratio of 2.16. The stock’s fifty day moving average price is $710.52 and its 200-day moving average price is $738.65. The firm has a market capitalization of $16.25 billion, a P/E ratio of 33.64, a PEG ratio of 2.12 and a beta of 1.38.
Several brokerages recently commented on MTD. Zacks Investment Research cut Mettler-Toledo International from a “buy” rating to a “hold” rating and set a $811.00 target price on the stock. in a report on Friday, June 7th. Wolfe Research started coverage on Mettler-Toledo International in a research note on Thursday, May 30th. They issued a “peer perform” rating on the stock. ValuEngine lowered Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays lowered Mettler-Toledo International from an “equal weight” rating to an “underweight” rating and set a $680.00 price target on the stock. in a research note on Monday, July 15th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $688.60.
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; 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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