Allstate Corp Acquires New Stake in Mettler-Toledo International Inc. (NYSE:MTD)

Allstate Corp bought a new position in Mettler-Toledo International Inc. (NYSE:MTD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 624 shares of the medical instruments supplier’s stock, valued at approximately $764,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Mettler-Toledo International in the 4th quarter worth about $33,000. Blue Trust Inc. increased its position in shares of Mettler-Toledo International by 70.8% during the fourth quarter. Blue Trust Inc. now owns 41 shares of the medical instruments supplier’s stock worth $50,000 after acquiring an additional 17 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Mettler-Toledo International during the fourth quarter valued at approximately $54,000. Sound Income Strategies LLC boosted its holdings in shares of Mettler-Toledo International by 4,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 46 shares of the medical instruments supplier’s stock valued at $56,000 after purchasing an additional 45 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in Mettler-Toledo International by 80.0% in the third quarter. Itau Unibanco Holding S.A. now owns 54 shares of the medical instruments supplier’s stock worth $81,000 after purchasing an additional 24 shares in the last quarter. 95.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Gerry Keller sold 600 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,351.34, for a total transaction of $810,804.00. Following the sale, the insider now directly owns 6 shares of the company’s stock, valued at $8,108.04. The trade was a 99.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christian Magloth sold 790 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $1,313.69, for a total value of $1,037,815.10. Following the completion of the transaction, the insider now owns 734 shares of the company’s stock, valued at $964,248.46. This trade represents a 51.84 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.94% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Mettler-Toledo International from $1,350.00 to $1,400.00 and gave the stock an “equal weight” rating in a report on Monday, February 10th. Robert W. Baird increased 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 report on Monday, February 10th. Evercore ISI boosted their price target on shares of Mettler-Toledo International from $1,450.00 to $1,475.00 and gave the company an “outperform” rating in a report on Monday, February 10th. Citigroup dropped their price objective 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 for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1,380.50.

Mettler-Toledo International Stock Up 0.5 %

Shares of MTD opened at $1,182.55 on Tuesday. The company has a 50 day moving average of $1,281.57 and a two-hundred day moving average of $1,301.57. The company has a market cap of $24.65 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 3.30 and a beta of 1.15. Mettler-Toledo International Inc. has a twelve month low of $1,136.00 and a twelve month high of $1,546.93.

Mettler-Toledo International (NYSE:MTD) last announced its earnings results on Thursday, February 13th. The medical instruments supplier reported $12.41 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts expect that Mettler-Toledo International Inc. will post 42.71 EPS for the current year.

Mettler-Toledo International 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.