Solidarity Wealth LLC Boosts Stock Holdings in Mettler-Toledo International, Inc. (NYSE:MTD)

Key Points

• Solidarity Wealth LLC increased its holdings in Mettler-Toledo International, Inc. by 5.8%, resulting in a total investment worth approximately $5.75 million as of the most recent SEC filing.
• Director Michael A. Kelly sold 1,062 shares at an average price of $1,159.93, significantly reducing his ownership by nearly 90% in the firm.
• Mettler-Toledo reported Q1 earnings per share of $8.19, exceeding consensus estimates, but experienced a 4.6% decline in revenue compared to the same quarter last year.

Solidarity Wealth LLC grew its holdings in Mettler-Toledo International, Inc. (NYSE:MTD - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,867 shares of the medical instruments supplier's stock after purchasing an additional 268 shares during the quarter. Mettler-Toledo International comprises about 1.4% of Solidarity Wealth LLC's portfolio, making the stock its 23rd biggest position. Solidarity Wealth LLC's holdings in Mettler-Toledo International were worth $5,747,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mackenzie Financial Corp increased its stake in shares of Mettler-Toledo International by 41.9% in the 1st quarter. Mackenzie Financial Corp now owns 3,218 shares of the medical instruments supplier's stock valued at $3,800,000 after acquiring an additional 950 shares in the last quarter. LPL Financial LLC increased its position in Mettler-Toledo International by 16.3% in the 1st quarter. LPL Financial LLC now owns 5,404 shares of the medical instruments supplier's stock valued at $6,382,000 after buying an additional 758 shares in the last quarter. Empirical Finance LLC raised its stake in Mettler-Toledo International by 2.7% during the 1st quarter. Empirical Finance LLC now owns 785 shares of the medical instruments supplier's stock worth $927,000 after buying an additional 21 shares during the period. Security Financial Services INC. boosted its holdings in Mettler-Toledo International by 30.8% in the first quarter. Security Financial Services INC. now owns 259 shares of the medical instruments supplier's stock worth $306,000 after acquiring an additional 61 shares in the last quarter. Finally, HB Wealth Management LLC grew its stake in Mettler-Toledo International by 32.1% in the first quarter. HB Wealth Management LLC now owns 280 shares of the medical instruments supplier's stock valued at $331,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 95.07% of the company's stock.

Insider Activity

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 transaction of $1,231,845.66. Following the sale, the director directly owned 120 shares in the company, valued at $139,191.60. The trade was a 89.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.94% of the stock is currently owned by corporate insiders.

Mettler-Toledo International Stock Performance

NYSE:MTD traded down $12.42 on Thursday, hitting $1,253.49. The stock had a trading volume of 168,204 shares, compared to its average volume of 174,835. Mettler-Toledo International, Inc. has a 1 year low of $946.69 and a 1 year high of $1,546.93. The firm's fifty day simple moving average is $1,189.96 and its two-hundred day simple moving average is $1,194.60. The stock has a market cap of $26.05 billion, a P/E ratio of 31.24, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37.

Mettler-Toledo International (NYSE:MTD - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $883.74 million for the quarter, compared to analyst estimates of $876.61 million. During the same period last year, the company posted $8.89 earnings per share. Mettler-Toledo International's quarterly revenue was down 4.6% compared to the same quarter last year. Equities research analysts predict that Mettler-Toledo International, Inc. will post 42.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays began coverage on Mettler-Toledo International in a research report on Tuesday, June 24th. They set an "overweight" rating and a $1,325.00 target price on the stock. UBS Group upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $1,530.00 to $1,350.00 in a report on Tuesday, May 20th. Citigroup upgraded shares of Mettler-Toledo International from a "neutral" rating to a "buy" rating and set a $1,400.00 price objective for the company in a report on Monday, April 7th. Wall Street Zen downgraded shares of Mettler-Toledo International from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Bank of America raised their price target on shares of Mettler-Toledo International from $1,200.00 to $1,260.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Mettler-Toledo International has a consensus rating of "Hold" and an average price target of $1,298.50.

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.