Retirement Systems of Alabama Has $38.98 Million Stock Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Retirement Systems of Alabama cut its stake in shares of Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,007 shares of the medical instruments supplier's stock after selling 398 shares during the period. Retirement Systems of Alabama owned 0.16% of Mettler-Toledo International worth $38,978,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MTD. GAMMA Investing LLC boosted its position in Mettler-Toledo International by 131,246.3% during the first quarter. GAMMA Investing LLC now owns 386,158 shares of the medical instruments supplier's stock valued at $456,018,000 after purchasing an additional 385,864 shares during the last quarter. Norges Bank acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $372,954,000. Proficio Capital Partners LLC acquired a new stake in shares of Mettler-Toledo International in the fourth quarter valued at approximately $163,216,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Mettler-Toledo International by 36.1% in 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. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Mettler-Toledo International by 53.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 214,281 shares of the medical instruments supplier's stock valued at $262,211,000 after buying an additional 74,187 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael A. Kelly sold 1,062 shares of Mettler-Toledo International stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $1,159.93, for a total value of $1,231,845.66. Following the transaction, the director now owns 120 shares in the company, valued at approximately $139,191.60. This trade represents a 89.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.94% of the company's stock.

Mettler-Toledo International Price Performance

MTD opened at $1,154.80 on Friday. The business has a fifty day simple moving average of $1,118.58 and a 200 day simple moving average of $1,200.97. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93. The company has a market capitalization of $24.00 billion, a PE ratio of 28.80, a price-to-earnings-growth ratio of 3.39 and a beta of 1.38.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $8.19 EPS for the quarter, topping analysts' consensus estimates of $7.90 by $0.29. Mettler-Toledo International had a negative return on equity of 556.22% and a net margin of 22.17%. The firm had revenue of $883.74 million for the quarter, compared to analyst estimates of $876.61 million. During the same quarter last year, the company earned $8.89 EPS. The company's revenue was down 4.6% on a year-over-year basis. Equities analysts anticipate that Mettler-Toledo International, Inc. will post 42.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of Mettler-Toledo International from an "underperform" rating to a "hold" rating and dropped their price objective for the company from $1,200.00 to $1,110.00 in a research report on Monday, May 5th. Wells Fargo & Company increased their price objective on shares of Mettler-Toledo International from $1,125.00 to $1,200.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Citigroup raised shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective on the stock in a research report on Monday, April 7th. Robert W. Baird dropped their price target on Mettler-Toledo International from $1,369.00 to $1,034.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Wall Street Zen downgraded Mettler-Toledo International from a "buy" rating to a "hold" rating in a research note on Monday, May 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.

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