Mackay Shields LLC Decreases Position in Mettler-Toledo International Inc. (NYSE:MTD)

Mackay Shields LLC lessened its holdings in shares of Mettler-Toledo International Inc. (NYSE:MTD) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,804 shares of the medical instruments supplier’s stock after selling 20 shares during the quarter. Mackay Shields LLC’s holdings in Mettler-Toledo International were worth $2,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Smithfield Trust Co. lifted its holdings in shares of Mettler-Toledo International by 57.1% during the 1st quarter. Smithfield Trust Co. now owns 44 shares of the medical instruments supplier’s stock valued at $31,000 after purchasing an additional 16 shares during the last quarter. RMR Wealth Builders purchased a new stake in shares of Mettler-Toledo International during the 4th quarter valued at $46,000. Exchange Traded Concepts LLC acquired a new position in shares of Mettler-Toledo International in the 4th quarter valued at $56,000. Quadrant Capital Group LLC increased its position in shares of Mettler-Toledo International by 40.7% in the 4th quarter. Quadrant Capital Group LLC now owns 83 shares of the medical instruments supplier’s stock valued at $58,000 after acquiring an additional 24 shares during the period. Finally, Allred Capital Management LLC increased its position in shares of Mettler-Toledo International by 19.8% in the 1st quarter. Allred Capital Management LLC now owns 109 shares of the medical instruments supplier’s stock valued at $75,000 after acquiring an additional 18 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

In other news, insider Gerry Keller sold 471 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $733.64, for a total transaction of $345,544.44. Following the sale, the insider now directly owns 381 shares in the company, valued at approximately $279,516.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert F. Spoerry sold 1,960 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $721.00, for a total value of $1,413,160.00. Following the sale, the director now owns 8,108 shares in the company, valued at $5,845,868. The disclosure for this sale can be found here. Insiders have sold a total of 12,854 shares of company stock worth $9,151,843 over the last 90 days. Insiders own 3.20% of the company’s stock.

Shares of MTD opened at $748.31 on Friday. The business’s 50-day moving average is $704.51 and its two-hundred day moving average is $736.56. The company has a market capitalization of $17.29 billion, a P/E ratio of 33.81, a P/E/G ratio of 5.67 and a beta of 1.05. The company has a debt-to-equity ratio of 4.94, a quick ratio of 1.34 and a current ratio of 1.77. Mettler-Toledo International Inc. has a fifty-two week low of $579.40 and a fifty-two week high of $873.51.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings results on Thursday, May 7th. The medical instruments supplier reported $4.00 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.11. The company had revenue of $649.20 million for the quarter, compared to the consensus estimate of $651.78 million. Mettler-Toledo International had a return on equity of 134.62% and a net margin of 18.38%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $4.10 EPS. Analysts forecast that Mettler-Toledo International Inc. will post 21.02 EPS for the current year.

MTD has been the topic of several research reports. Evercore ISI downgraded Mettler-Toledo International from an “in-line” rating to an “underperform” rating in a research report on Sunday, April 19th. Wells Fargo & Co upped their target price on Mettler-Toledo International from $690.00 to $760.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Barclays raised Mettler-Toledo International from an “underweight” rating to an “equal weight” rating and cut their target price for the company from $720.00 to $680.00 in a research report on Thursday, March 26th. Cfra upped their target price on Mettler-Toledo International from $705.00 to $741.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, Citigroup upped their target price on Mettler-Toledo International from $725.00 to $740.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Mettler-Toledo International presently has an average rating of “Hold” and a consensus target price of $722.20.

About Mettler-Toledo International

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.

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

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