JLB & Associates Inc. Decreases Stake in Mettler-Toledo International Inc. (MTD)

JLB & Associates Inc. lessened its position in Mettler-Toledo International Inc. (NYSE:MTD) by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,263 shares of the medical instruments supplier’s stock after selling 145 shares during the quarter. JLB & Associates Inc.’s holdings in Mettler-Toledo International were worth $1,636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MTD. Nordea Investment Management AB grew its position in shares of Mettler-Toledo International by 65.0% in the 4th quarter. Nordea Investment Management AB now owns 37,599 shares of the medical instruments supplier’s stock worth $21,266,000 after buying an additional 14,805 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in Mettler-Toledo International by 11.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 6,337 shares of the medical instruments supplier’s stock valued at $4,581,000 after acquiring an additional 641 shares during the period. Legal & General Group Plc lifted its stake in shares of Mettler-Toledo International by 2.2% in the 3rd quarter. Legal & General Group Plc now owns 122,899 shares of the medical instruments supplier’s stock valued at $74,842,000 after purchasing an additional 2,701 shares during the period. Macquarie Group Ltd. grew its holdings in shares of Mettler-Toledo International by 28.6% during the third quarter. Macquarie Group Ltd. now owns 900 shares of the medical instruments supplier’s stock worth $548,000 after buying an additional 200 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in shares of Mettler-Toledo International by 4.2% during the fourth quarter. Fiera Capital Corp now owns 704,726 shares of the medical instruments supplier’s stock worth $398,579,000 after buying an additional 28,271 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

A number of research firms have recently issued reports on MTD. Zacks Investment Research lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. ValuEngine lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a report on Monday, May 13th. Bank of America reissued a “neutral” rating and issued a $755.00 price objective (up previously from $725.00) on shares of Mettler-Toledo International in a report on Tuesday, April 16th. Finally, Barclays reissued a “hold” rating on shares of Mettler-Toledo International in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $658.80.

In other Mettler-Toledo International news, CFO Shawn Vadala sold 700 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $721.00, for a total value of $504,700.00. Following the transaction, the chief financial officer now directly owns 5,450 shares in the company, valued at $3,929,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas P. Salice sold 1,300 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $685.50, for a total transaction of $891,150.00. Following the completion of the transaction, the director now owns 5,894 shares in the company, valued at $4,040,337. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,600 shares of company stock worth $30,805,828. 3.50% of the stock is owned by corporate insiders.

Shares of MTD traded up $9.69 during mid-day trading on Friday, hitting $728.82. 123,895 shares of the company’s stock were exchanged, compared to its average volume of 143,635. The stock has a market capitalization of $17.77 billion, a PE ratio of 35.87, a P/E/G ratio of 2.30 and a beta of 1.33. Mettler-Toledo International Inc. has a fifty-two week low of $500.74 and a fifty-two week high of $762.90. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.97 and a current ratio of 1.37.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, May 9th. The medical instruments supplier reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.04. The business had revenue of $679.50 million for the quarter, compared to analysts’ expectations of $673.55 million. Mettler-Toledo International had a net margin of 17.98% and a return on equity of 95.67%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.74 earnings per share. On average, sell-side analysts predict that Mettler-Toledo International Inc. will post 22.7 earnings per share for the current year.

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Mettler-Toledo International Profile

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.

Further Reading: Buy-Side Analysts

Institutional Ownership by Quarter for Mettler-Toledo International (NYSE:MTD)

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