State of Michigan Retirement System Has $6.96 Million Position in Mettler-Toledo International Inc. (NYSE:MTD)

State of Michigan Retirement System lowered its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 3.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,025 shares of the medical instruments supplier’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in Mettler-Toledo International were worth $6,963,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $253,400,000. WCM Investment Management LLC boosted its position in shares of Mettler-Toledo International by 3.5% in the fourth quarter. WCM Investment Management LLC now owns 1,403,182 shares of the medical instruments supplier’s stock valued at $1,599,178,000 after acquiring an additional 47,169 shares during the period. BlackRock Inc. boosted its position in shares of Mettler-Toledo International by 2.3% in the fourth quarter. BlackRock Inc. now owns 1,808,118 shares of the medical instruments supplier’s stock valued at $2,060,676,000 after acquiring an additional 41,066 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Mettler-Toledo International by 31.8% in the fourth quarter. Nuveen Asset Management LLC now owns 147,533 shares of the medical instruments supplier’s stock valued at $168,140,000 after acquiring an additional 35,596 shares during the period. Finally, Ownership Capital B.V. boosted its position in shares of Mettler-Toledo International by 28.3% in the fourth quarter. Ownership Capital B.V. now owns 149,729 shares of the medical instruments supplier’s stock valued at $13,660,000 after acquiring an additional 33,010 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Mettler-Toledo International stock opened at $1,239.94 on Wednesday. The firm has a market cap of $28.92 billion, a PE ratio of 52.16, a P/E/G ratio of 3.58 and a beta of 1.04. Mettler-Toledo International Inc. has a 52-week low of $661.32 and a 52-week high of $1,339.38. The business’s 50 day simple moving average is $1,241.44 and its 200 day simple moving average is $1,169.63. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.99 and a current ratio of 1.37.

Mettler-Toledo International (NYSE:MTD) last posted its quarterly earnings results on Thursday, May 6th. The medical instruments supplier reported $6.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.61 by $0.95. The firm had revenue of $804.39 million for the quarter, compared to analyst estimates of $753.89 million. Mettler-Toledo International had a return on equity of 144.89% and a net margin of 19.36%. The business’s quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.00 EPS. As a group, equities research analysts predict that Mettler-Toledo International Inc. will post 25 EPS for the current year.

In related news, Director Wah-Hui Chu sold 37 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $1,218.00, for a total transaction of $45,066.00. Following the completion of the sale, the director now directly owns 2,257 shares in the company, valued at approximately $2,749,026. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider La Guerroniere Marc De sold 6,000 shares of the company’s stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $1,202.28, for a total value of $7,213,680.00. Following the sale, the insider now owns 10,796 shares of the company’s stock, valued at $12,979,814.88. The disclosure for this sale can be found here. Insiders have sold a total of 6,929 shares of company stock worth $8,322,383 over the last three months. 3.20% of the stock is owned by insiders.

MTD has been the subject of several research reports. Wells Fargo & Company raised their target price on Mettler-Toledo International from $1,100.00 to $1,300.00 and gave the stock an “equal weight” rating in a research report on Friday, February 5th. Zacks Investment Research upgraded Mettler-Toledo International from a “hold” rating to a “buy” rating and set a $1,255.00 price objective for the company in a research note on Tuesday, February 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $1,077.86.

About Mettler-Toledo International

Mettler-Toledo International Inc manufactures and supplies precision instruments and services worldwide. It operates in five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. The company offers weighing instruments for laboratory, industrial, packaging, logistics, and food retailing applications; various related analytical instruments and 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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Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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