State Farm Mutual Automobile Insurance Co. Maintains Holdings in Mettler-Toledo International, Inc. (MTD)

State Farm Mutual Automobile Insurance Co. maintained its position in Mettler-Toledo International, Inc. (NYSE:MTD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,210 shares of the medical instruments supplier’s stock at the end of the second quarter. State Farm Mutual Automobile Insurance Co. owned about 0.08% of Mettler-Toledo International worth $12,483,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its stake in shares of Mettler-Toledo International by 0.5% during the second quarter. State of Alaska Department of Revenue now owns 1,087 shares of the medical instruments supplier’s stock valued at $639,000 after acquiring an additional 5 shares during the period. First Personal Financial Services increased its stake in shares of Mettler-Toledo International by 2.8% during the second quarter. First Personal Financial Services now owns 186 shares of the medical instruments supplier’s stock valued at $109,000 after acquiring an additional 5 shares during the period. Contravisory Investment Management Inc. increased its stake in shares of Mettler-Toledo International by 1.3% during the second quarter. Contravisory Investment Management Inc. now owns 558 shares of the medical instruments supplier’s stock valued at $328,000 after acquiring an additional 7 shares during the period. Pacer Advisors Inc. increased its stake in shares of Mettler-Toledo International by 2.5% during the first quarter. Pacer Advisors Inc. now owns 454 shares of the medical instruments supplier’s stock valued at $217,000 after acquiring an additional 11 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in shares of Mettler-Toledo International by 0.7% during the first quarter. 1st Global Advisors Inc. now owns 1,812 shares of the medical instruments supplier’s stock valued at $868,000 after acquiring an additional 13 shares during the period. Institutional investors and hedge funds own 93.14% of the company’s stock.

Mettler-Toledo International, Inc. (MTD) traded up 0.274% on Friday, reaching $613.505. 18,931 shares of the company’s stock traded hands. The firm has a market capitalization of $15.75 billion, a PE ratio of 37.726 and a beta of 1.11. Mettler-Toledo International, Inc. has a 52-week low of $386.01 and a 52-week high of $618.13. The firm’s 50 day moving average price is $589.26 and its 200 day moving average price is $548.30.

Mettler-Toledo International (NYSE:MTD) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $3.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.89 by $0.03. Mettler-Toledo International had a net margin of 16.60% and a return on equity of 95.28%. The business had revenue of $653.70 million for the quarter, compared to analyst estimates of $646.68 million. During the same period in the prior year, the business posted $3.22 earnings per share. Mettler-Toledo International’s revenue was up 7.5% compared to the same quarter last year. On average, analysts predict that Mettler-Toledo International, Inc. will post $17.33 EPS for the current fiscal year.

A number of research analysts recently commented on MTD shares. Bank of America Corporation raised their price objective on shares of Mettler-Toledo International from $590.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 31st. Zacks Investment Research lowered shares of Mettler-Toledo International from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. Morgan Stanley reiterated an “equal weight” rating and set a $565.00 price objective (up previously from $533.00) on shares of Mettler-Toledo International in a research note on Saturday, July 22nd. Jefferies Group LLC restated a “hold” rating and issued a $550.00 price target on shares of Mettler-Toledo International in a research report on Tuesday, June 20th. Finally, BidaskClub lowered shares of Mettler-Toledo International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $569.80.

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In related news, CFO Shawn Vadala sold 1,500 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $577.00, for a total value of $865,500.00. Following the transaction, the chief financial officer now directly owns 6,525 shares in the company, valued at $3,764,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wah-Hui Chu sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $579.51, for a total transaction of $579,510.00. Following the completion of the transaction, the director now owns 3,243 shares in the company, valued at $1,879,350.93. The disclosure for this sale can be found here. Insiders sold 25,628 shares of company stock worth $15,099,504 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

About Mettler-Toledo International

Mettler-Toledo International Inc is a supplier of precision instruments and services. The Company operates through five segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications.

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

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