Cerity Partners LLC Purchases Shares of 5,258 The Middleby Co. (NASDAQ:MIDD)

Cerity Partners LLC purchased a new stake in The Middleby Co. (NASDAQ:MIDD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,258 shares of the industrial products company’s stock, valued at approximately $774,000.

Several other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina grew its stake in shares of Middleby by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,362 shares of the industrial products company’s stock valued at $2,990,000 after purchasing an additional 120 shares during the period. Mendota Financial Group LLC grew its stake in shares of Middleby by 13.5% in the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 130 shares during the period. Caprock Group LLC grew its stake in shares of Middleby by 6.9% in the 3rd quarter. Caprock Group LLC now owns 2,038 shares of the industrial products company’s stock valued at $261,000 after purchasing an additional 132 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Middleby by 14.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 2,852 shares of the industrial products company’s stock valued at $420,000 after purchasing an additional 352 shares during the period. Finally, Studio Investment Management LLC grew its stake in shares of Middleby by 11.8% in the 3rd quarter. Studio Investment Management LLC now owns 3,508 shares of the industrial products company’s stock valued at $449,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Down 0.5 %

Shares of MIDD opened at $141.93 on Tuesday. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 19.15 and a beta of 1.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31. The business’s fifty day moving average price is $151.09 and its two-hundred day moving average price is $138.88. The Middleby Co. has a 52 week low of $109.59 and a 52 week high of $161.01.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.21. The firm had revenue of $1.01 billion for 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 business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. On average, analysts predict that The Middleby Co. will post 10.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. TheStreet upgraded Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Canaccord Genuity Group increased their price target on Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group increased 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Insider Activity

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at approximately $1,220,519.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the transaction, the director now owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 7,971 shares in the company, valued at approximately $1,220,519.52. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by company insiders.

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.