Here’s Why Investors Like Mettler-Toledo International (MTD)

Renaissance Investment Management, an investment management company, released its “Midcap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 11.23% (net) compared to a 6.90% return for the Russell Midcap Growth Index. The strategy declined -13.42% (net) in 2022 compared to a -26.72% decline for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Renaissance Midcap Growth Strategy highlighted stocks like Mettler-Toledo International Inc. (NYSE:MTD) in its Q4 2022 investor letter. Based in Columbus, Ohio, Mettler-Toledo International Inc. (NYSE:MTD) is a precision instruments and services manufacturer and supplier. On March 22, 2023, Mettler-Toledo International Inc. (NYSE:MTD) stock closed at $1,452.26 per share. One-month return of Mettler-Toledo International Inc. (NYSE:MTD) was -0.22%, and its shares gained 6.84% of their value over the last 52 weeks. Mettler-Toledo International Inc. (NYSE:MTD) has a market capitalization of $32.052 billion.

Renaissance Midcap Growth Strategy made the following comment about Mettler-Toledo International Inc. (NYSE:MTD) in its Q4 2022 investor letter:

“Lastly, Mettler-Toledo International Inc. (NYSE:MTD) returned 33.3% for the quarter. The company reported robust quarterly results driven by its lab and core industrial segments. Management also provided upbeat guidance during their investor day, as they remain confident in Mettler’s portfolio and competitive positioning, as well as its operational improvements that will enhance the company’s execution.”

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Mettler-Toledo International Inc. (NYSE:MTD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Mettler-Toledo International Inc. (NYSE:MTD) at the end of the fourth quarter which was 45 in the previous quarter.

We discussed Mettler-Toledo International Inc. (NYSE:MTD) in another article and shared ClearBridge Mid Cap Growth Strategy ‘s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.