Teacher Retirement System of Texas lowered its holdings in Mettler-Toledo International, Inc. (NYSE:MTD – Free Report) by 79.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,721 shares of the medical instruments supplier’s stock after selling 10,347 shares during the period. Teacher Retirement System of Texas’ holdings in Mettler-Toledo International were worth $3,340,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Corient Private Wealth LLC boosted its stake in Mettler-Toledo International by 91.8% during the second quarter. Corient Private Wealth LLC now owns 140,267 shares of the medical instruments supplier’s stock worth $164,775,000 after buying an additional 67,149 shares during the period. Stance Capital LLC acquired a new stake in Mettler-Toledo International during the 2nd quarter worth approximately $2,012,000. Sound Income Strategies LLC raised its stake in shares of Mettler-Toledo International by 477.8% in the second quarter. Sound Income Strategies LLC now owns 52 shares of the medical instruments supplier’s stock valued at $61,000 after acquiring an additional 43 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Mettler-Toledo International in the 3rd quarter valued at about $2,210,000. Finally, Rakuten Investment Management Inc. acquired a new stake in Mettler-Toledo International in the third quarter valued at approximately $121,021,000. 95.07% of the stock is owned by hedge funds and other institutional investors.
Mettler-Toledo International Price Performance
MTD stock opened at $1,400.86 on Thursday. The company’s 50 day simple moving average is $1,434.10 and its 200-day simple moving average is $1,350.38. The firm has a market capitalization of $28.62 billion, a PE ratio of 34.93, a P/E/G ratio of 4.24 and a beta of 1.41. Mettler-Toledo International, Inc. has a 12 month low of $946.69 and a 12 month high of $1,525.17.
Insider Activity
In other Mettler-Toledo International news, Director Elisha W. Finney sold 474 shares of Mettler-Toledo International stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $1,433.57, for a total value of $679,512.18. Following the completion of the sale, the director owned 311 shares in the company, valued at $445,840.27. The trade was a 60.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Shawn Vadala sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $1,511.00, for a total transaction of $1,511,000.00. Following the transaction, the chief financial officer directly owned 5,288 shares of the company’s stock, valued at $7,990,168. This trade represents a 15.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,565 shares of company stock valued at $28,683,737 in the last 90 days. Insiders own 0.77% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Mettler-Toledo International from $1,200.00 to $1,285.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Morgan Stanley assumed coverage on shares of Mettler-Toledo International in a research report on Tuesday, December 2nd. They set an “equal weight” rating and a $1,550.00 target price on the stock. Wells Fargo & Company raised their price target on Mettler-Toledo International from $1,400.00 to $1,450.00 and gave the stock an “equal weight” rating in a report on Monday, December 15th. Evercore ISI boosted their price objective on shares of Mettler-Toledo International from $1,275.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. Finally, Bank of America upgraded Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,600.00 target price on the stock in a research report on Monday, December 15th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Mettler-Toledo International presently has an average rating of “Hold” and an average price target of $1,441.67.
Read Our Latest Analysis on MTD
About Mettler-Toledo International
Mettler-Toledo International Inc is a global manufacturer and distributor of precision instruments and services for laboratory, industrial and food retail applications. The company’s product portfolio includes laboratory balances and analytical instruments, industrial weighing systems, process analytics and sensors, metal detection and x-ray inspection equipment, checkweighers, and a range of automated inspection and data-management solutions. Mettler-Toledo also provides software, calibration and lifecycle services intended to support compliance, quality control and operational efficiency across customer facilities.
The company serves a broad set of end markets including pharmaceutical and biotech laboratories, chemical and food processors, logistics and manufacturing operations, and retail environments where accurate weighing and inspection are critical.
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