Baron Funds: “Mettler-Toledo (MTD) Remains an Exceptionally Well-Run Business”

Baron Funds, an asset management firm, published its “Baron Asset Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Against this backdrop, Baron Asset Fund (the “Fund”) gained 5.04% (Institutional Shares), while the Russell Midcap Growth Index (the “Index”) gained 2.85%, and the S&P 500 Index gained 11.03%. The Fund’s outperformance was attributable to favorable stock selection and tailwinds from certain style biases, notably its underexposure to the poor performing residual volatility and beta factors. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Baron Asset Fund, in its Q4 2021 investor letter, mentioned Mettler-Toledo International Inc. (NYSE: MTD) and discussed its stance on the firm. Mettler-Toledo International Inc. is a Columbus, Ohio-based analytical laboratory instrument manufacturing company with a $34.7 billion market capitalization. MTD delivered a -10.87% return since the beginning of the year, while its 12-month returns are up by 24.16%. The stock closed at $1,512.76 per share on January 17, 2022.

Here is what Baron Asset Fund has to say about Mettler-Toledo International Inc. in its Q4 2021 investor letter:

“Mettler-Toledo International, Inc. is a leading provider of weighing systems and measuring instruments for laboratory, industrial, and food retail applications. Its stock performed well after the company reported strong third quarter financial results with revenue and earnings growth, as well as initial 2022 guidance, that exceeded Wall Street forecasts. We believe that Mettler-Toledo remains an exceptionally well-run business with attractive end markets and the ability to compound its earnings at a mid-teens rate for many years.”

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Our calculations show that Mettler-Toledo International Inc. (NYSE: MTD) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. MTD was in 31 hedge fund portfolios at the end of the third quarter of 2021, compared to 35 funds in the previous quarter. Mettler-Toledo International Inc. (NYSE: MTD) delivered a 6.70% return in the past 3 months.

You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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