The Middleby Co. (NASDAQ:MIDD) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 39.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,206 shares of the industrial products company’s stock after purchasing an additional 1,770 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Middleby were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Select Equity Group L.P. increased its position in Middleby by 5.4% in the first quarter. Select Equity Group L.P. now owns 4,782,965 shares of the industrial products company’s stock worth $701,230,000 after buying an additional 246,174 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Middleby by 23.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,171,437 shares of the industrial products company’s stock worth $290,756,000 after acquiring an additional 407,150 shares during the period. Goldman Sachs Group Inc. lifted its position in Middleby by 5.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,826,029 shares of the industrial products company’s stock valued at $299,359,000 after purchasing an additional 94,230 shares during the last quarter. Nordea Investment Management AB boosted its stake in Middleby by 13.3% during the 4th quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock valued at $251,621,000 after purchasing an additional 198,859 shares during the period. Finally, Alliancebernstein L.P. grew its position in Middleby by 8.5% in the 2nd quarter. Alliancebernstein L.P. now owns 1,155,011 shares of the industrial products company’s stock worth $170,745,000 after purchasing an additional 90,405 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $143.32 on Tuesday. The Middleby Co. has a 1 year low of $109.59 and a 1 year high of $161.01. The firm has a market cap of $7.68 billion, a P/E ratio of 19.34 and a beta of 1.56. The stock has a fifty day moving average price of $151.37 and a two-hundred day moving average price of $138.29. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.21. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Research analysts forecast that The Middleby Co. will post 10.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the sale, the director now directly owns 7,971 shares in the company, valued at approximately $1,220,519.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Chapin Sarah Palisi sold 350 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the transaction, the director now directly owns 6,306 shares in the company, valued at approximately $955,169.82. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MIDD. Canaccord Genuity Group boosted their price objective on Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Jefferies Financial Group boosted their price target on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Finally, TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Middleby has an average rating of “Moderate Buy” and a consensus target price of $159.38.

About Middleby

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.