Strs Ohio Has $1.44 Million Stock Position in The Middleby Co. (NASDAQ:MIDD)

Strs Ohio reduced its holdings in The Middleby Co. (NASDAQ:MIDD) by 18.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,789 shares of the industrial products company’s stock after selling 2,279 shares during the quarter. Strs Ohio’s holdings in Middleby were worth $1,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. Covington Capital Management acquired a new position in Middleby in the 3rd quarter valued at approximately $25,000. State of Wyoming increased its position in Middleby by 29.5% in the 2nd quarter. State of Wyoming now owns 334 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 76 shares during the period. Clear Street Markets LLC acquired a new position in Middleby in the 3rd quarter valued at approximately $50,000. First Horizon Advisors Inc. increased its position in Middleby by 29.0% in the 1st quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 93 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Middleby during the first quarter worth $89,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Up 1.1 %

Shares of NASDAQ MIDD opened at $142.60 on Monday. The firm has a market cap of $7.64 billion, a PE ratio of 19.24 and a beta of 1.56. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The company’s fifty day simple moving average is $151.22 and its 200 day simple moving average is $138.75. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling

In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the firm’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 transaction, the director now directly owns 6,306 shares of the company’s stock, valued at $955,169.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the firm’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 transaction, the director now directly owns 6,306 shares of the company’s stock, valued at $955,169.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total transaction of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The disclosure for this sale can be found here. 1.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Canaccord Genuity Group increased their price objective on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, TheStreet upgraded shares of Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.