Fifth Third Bancorp Increases Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Fifth Third Bancorp boosted its stake in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 878 shares of the medical instruments supplier’s stock after purchasing an additional 62 shares during the period. Fifth Third Bancorp’s holdings in Mettler-Toledo International were worth $1,074,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its position in Mettler-Toledo International by 242.9% during the 3rd quarter. Blue Trust Inc. now owns 24 shares of the medical instruments supplier’s stock worth $34,000 after acquiring an additional 17 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Mettler-Toledo International in the third quarter worth about $37,000. Sound Income Strategies LLC lifted its holdings in shares of Mettler-Toledo International by 4,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier’s stock worth $56,000 after purchasing an additional 45 shares during the period. Raleigh Capital Management Inc. increased its holdings in Mettler-Toledo International by 272.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 41 shares of the medical instruments supplier’s stock worth $61,000 after buying an additional 30 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Mettler-Toledo International by 60.0% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 48 shares of the medical instruments supplier’s stock worth $72,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 95.07% of the company’s stock.

Insider Transactions at Mettler-Toledo International

In other Mettler-Toledo International news, Director Elisha W. Finney sold 76 shares of Mettler-Toledo International stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1,311.75, for a total transaction of $99,693.00. Following the sale, the director now owns 240 shares of the company’s stock, valued at $314,820. The trade was a 24.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gerry Keller sold 140 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1,254.09, for a total transaction of $175,572.60. Following the completion of the sale, the insider now owns 6 shares of the company’s stock, valued at $7,524.54. This trade represents a 95.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Mettler-Toledo International Stock Performance

NYSE:MTD opened at $1,338.58 on Thursday. The stock has a market capitalization of $28.24 billion, a PE ratio of 36.09, a P/E/G ratio of 4.19 and a beta of 1.12. Mettler-Toledo International Inc. has a fifty-two week low of $1,133.46 and a fifty-two week high of $1,546.93. The company has a fifty day moving average of $1,257.26 and a two-hundred day moving average of $1,343.51.

Mettler-Toledo International (NYSE:MTD) last released its quarterly earnings results on Thursday, November 7th. The medical instruments supplier reported $10.21 earnings per share for the quarter, topping the consensus estimate of $10.00 by $0.21. Mettler-Toledo International had a net margin of 21.15% and a negative return on equity of 531.78%. The firm had revenue of $954.54 million during the quarter, compared to the consensus estimate of $941.93 million. Research analysts forecast that Mettler-Toledo International Inc. will post 40.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on MTD. Citigroup raised shares of Mettler-Toledo International from a “sell” rating to a “neutral” rating and upped their price target for the company from $1,200.00 to $1,300.00 in a report on Wednesday, December 11th. Robert W. Baird dropped their target price on Mettler-Toledo International from $1,375.00 to $1,310.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Wolfe Research began coverage on Mettler-Toledo International in a report on Friday, December 13th. They issued a “peer perform” rating for the company. Wells Fargo & Company dropped their price objective on shares of Mettler-Toledo International from $1,400.00 to $1,350.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Stifel Nicolaus decreased their target price on shares of Mettler-Toledo International from $1,550.00 to $1,450.00 and set a “buy” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Mettler-Toledo International presently has an average rating of “Hold” and a consensus price target of $1,351.25.

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.