Hoylecohen LLC purchased a new position in Middleby Corp (NASDAQ:MIDD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,328 shares of the industrial products company’s stock, valued at approximately $314,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Middleby by 15.4% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654 shares of the industrial products company’s stock worth $1,366,000 after buying an additional 1,419 shares in the last quarter. Thomas White International Ltd. purchased a new position in shares of Middleby in the 4th quarter worth $502,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Middleby by 171.2% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,401 shares of the industrial products company’s stock worth $820,000 after buying an additional 4,041 shares in the last quarter. Strs Ohio lifted its holdings in shares of Middleby by 15.7% in the 4th quarter. Strs Ohio now owns 547,795 shares of the industrial products company’s stock worth $73,924,000 after acquiring an additional 74,531 shares during the last quarter. Finally, Janney Capital Management LLC bought a new stake in shares of Middleby in the 3rd quarter worth about $384,000.
NASDAQ:MIDD traded down $1.24 during trading hours on Friday, hitting $123.57. 432,393 shares of the company were exchanged, compared to its average volume of 580,649. The company has a market cap of $6,953.18, a PE ratio of 20.06 and a beta of 1.80. Middleby Corp has a 52-week low of $107.53 and a 52-week high of $142.00. The company has a current ratio of 1.97, a quick ratio of 1.07 and a debt-to-equity ratio of 0.75.
Middleby (NASDAQ:MIDD) last released its earnings results on Tuesday, February 27th. The industrial products company reported $1.48 earnings per share for the quarter, hitting the consensus estimate of $1.48. Middleby had a net margin of 12.77% and a return on equity of 22.98%. The company had revenue of $632.86 million for the quarter, compared to the consensus estimate of $646.83 million. analysts expect that Middleby Corp will post 6.49 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Middleby from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Middleby from a “hold” rating to a “buy” rating and set a $151.00 price objective for the company in a report on Wednesday, January 17th. Susquehanna Bancshares set a $149.00 price target on shares of Middleby and gave the company a “buy” rating in a report on Thursday, March 1st. Citigroup reduced their price target on shares of Middleby from $150.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, March 5th. Finally, Wellington Shields lowered shares of Middleby from an “accumulate” rating to a “hold” rating in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $138.25.
In other news, Director Nassem Ziyad bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $111.00 per share, for a total transaction of $111,000.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $222,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.
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The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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