Fifth Third Bancorp Lowers Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Fifth Third Bancorp decreased its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 7.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 815 shares of the medical instruments supplier’s stock after selling 63 shares during the quarter. Fifth Third Bancorp’s holdings in Mettler-Toledo International were worth $962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. grew its position in Mettler-Toledo International by 9.9% during the fourth quarter. Alliancebernstein L.P. now owns 583,181 shares of the medical instruments supplier’s stock valued at $713,627,000 after acquiring an additional 52,726 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mettler-Toledo International by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 558,471 shares of the medical instruments supplier’s stock valued at $682,340,000 after purchasing an additional 11,032 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Mettler-Toledo International by 6.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 455,739 shares of the medical instruments supplier’s stock worth $557,680,000 after purchasing an additional 25,873 shares during the period. GAMMA Investing LLC lifted its stake in Mettler-Toledo International by 131,246.3% in the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier’s stock worth $456,018,000 after purchasing an additional 385,864 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Mettler-Toledo International by 36.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 363,107 shares of the medical instruments supplier’s stock valued at $444,327,000 after buying an additional 96,300 shares during the last quarter. Hedge funds and other institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Trading Up 2.4%

Shares of MTD opened at $1,182.91 on Tuesday. Mettler-Toledo International Inc. has a 1-year low of $946.69 and a 1-year high of $1,546.93. The firm has a market cap of $24.58 billion, a PE ratio of 29.19, a P/E/G ratio of 3.30 and a beta of 1.38. The firm has a fifty day simple moving average of $1,109.82 and a two-hundred day simple moving average of $1,203.21.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, beating the consensus estimate of $7.90 by $0.29. Mettler-Toledo International had a net margin of 22.29% and a negative return on equity of 591.54%. The firm had revenue of $883.74 million during the quarter, compared to analyst estimates of $876.61 million. During the same quarter in the prior year, the firm earned $8.89 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Insider Transactions at Mettler-Toledo International

In other news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total transaction of $1,231,845.66. Following the transaction, the director now directly owns 120 shares of the company’s stock, valued at $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.94% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MTD. Citigroup raised Mettler-Toledo International from a “neutral” rating to a “buy” rating and set a $1,400.00 target price on the stock in a research note on Monday, April 7th. Wall Street Zen lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Robert W. Baird lowered their price objective on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. UBS Group raised shares of Mettler-Toledo International from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $1,530.00 to $1,350.00 in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group raised shares of Mettler-Toledo International from an “underperform” rating to a “hold” rating and lowered their price target for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1,302.11.

Mettler-Toledo International Company Profile

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.