State Board of Administration of Florida Retirement System lowered its stake in Middleby Corp (NASDAQ:MIDD) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,845 shares of the industrial products company’s stock after selling 410 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Middleby were worth $9,082,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Enlightenment Research LLC acquired a new position in Middleby in the fourth quarter valued at about $41,000. Quadrant Capital Group LLC lifted its position in Middleby by 1,724.0% in the first quarter. Quadrant Capital Group LLC now owns 456 shares of the industrial products company’s stock valued at $58,000 after buying an additional 431 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Middleby by 22.9% in the first quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock valued at $79,000 after buying an additional 114 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in Middleby in the first quarter valued at about $82,000. Finally, First Manhattan Co. lifted its position in Middleby by 31.0% in the first quarter. First Manhattan Co. now owns 676 shares of the industrial products company’s stock valued at $87,000 after buying an additional 160 shares during the last quarter.
NASDAQ:MIDD traded up $0.17 during mid-day trading on Monday, hitting $136.68. The stock had a trading volume of 834 shares, compared to its average volume of 482,159. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 22.37 and a beta of 1.79. Middleby Corp has a twelve month low of $96.65 and a twelve month high of $140.15. The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 1.09.
Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.01. The company had revenue of $686.80 million for the quarter, compared to analyst estimates of $683.01 million. Middleby had a net margin of 11.35% and a return on equity of 21.91%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, equities analysts anticipate that Middleby Corp will post 6.92 EPS for the current year.
Several analysts have recently issued reports on the stock. BidaskClub raised shares of Middleby from a “buy” rating to a “strong-buy” rating in a research report on Friday. ValuEngine raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Zacks Investment Research cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Jefferies Financial Group assumed coverage on shares of Middleby in a research report on Wednesday, April 3rd. They set a “hold” rating and a $135.00 price target on the stock. Finally, CL King raised shares of Middleby from a “buy” rating to a “strong-buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $147.43.
In other news, Director Chapin Sarah Palisi sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $124.18, for a total transaction of $37,254.00. Following the transaction, the director now directly owns 5,100 shares in the company, valued at $633,318. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John R. Miller III sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $126.37, for a total transaction of $252,740.00. Following the transaction, the director now owns 16,000 shares in the company, valued at $2,021,920. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,400 shares of company stock worth $303,494. Insiders own 1.98% of the company’s stock.
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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