Arrowstreet Capital Limited Partnership Increases Stock Holdings in Mettler-Toledo International Inc. (NYSE:MTD)

Arrowstreet Capital Limited Partnership grew its stake in Mettler-Toledo International Inc. (NYSE:MTD) by 558.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 45,316 shares of the medical instruments supplier’s stock after buying an additional 38,433 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Mettler-Toledo International were worth $55,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MTD. Norges Bank bought a new position in shares of Mettler-Toledo International during the 4th quarter valued at approximately $372,954,000. Proficio Capital Partners LLC purchased a new stake in shares of Mettler-Toledo International in the 4th quarter worth $163,216,000. Seilern Investment Management Ltd purchased a new position in Mettler-Toledo International during the 4th quarter valued at about $89,221,000. AustralianSuper Pty Ltd raised its stake in Mettler-Toledo International by 3,183.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 71,673 shares of the medical instruments supplier’s stock worth $87,705,000 after buying an additional 69,490 shares in the last quarter. Finally, Canoe Financial LP lifted its stake in shares of Mettler-Toledo International by 576.5% during the 4th quarter. Canoe Financial LP now owns 55,518 shares of the medical instruments supplier’s stock worth $67,936,000 after purchasing an additional 47,311 shares during the last quarter. Institutional investors own 95.07% of the company’s stock.

Mettler-Toledo International Stock Down 2.3 %

Mettler-Toledo International stock opened at $1,153.53 on Wednesday. The firm’s 50-day simple moving average is $1,278.13 and its 200 day simple moving average is $1,299.95. The firm has a market capitalization of $24.04 billion, a PE ratio of 28.46, a P/E/G ratio of 3.30 and a beta of 1.15. Mettler-Toledo International Inc. has a 52 week low of $1,136.00 and a 52 week high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last issued its quarterly earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping analysts’ consensus estimates of $11.76 by $0.65. Mettler-Toledo International had a negative return on equity of 591.54% and a net margin of 22.29%. On average, research analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current fiscal year.

Insider Activity at Mettler-Toledo International

In other Mettler-Toledo International news, insider Christian Magloth sold 790 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total transaction of $1,037,815.10. Following the sale, the insider now owns 734 shares in the company, valued at $964,248.46. This represents a 51.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gerry Keller sold 600 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the sale, the insider now owns 6 shares in the company, valued at approximately $8,108.04. This trade represents a 99.01 % decrease in their position. The disclosure for this sale can be found here. 1.94% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MTD has been the subject of a number of recent analyst reports. Robert W. Baird lifted their target price on shares of Mettler-Toledo International from $1,362.00 to $1,369.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Evercore ISI increased their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their price objective on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the company an “equal weight” rating in a research report on Monday, February 10th. Citigroup decreased their price target on shares of Mettler-Toledo International from $1,450.00 to $1,400.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Finally, Wolfe Research began coverage on shares of Mettler-Toledo International in a research note on Friday, December 13th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mettler-Toledo International currently has a consensus rating of “Hold” and an average target price of $1,380.50.

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.