Handelsbanken Fonder AB Buys 600 Shares of The Middleby Co. (NASDAQ:MIDD)

Handelsbanken Fonder AB increased its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,600 shares of the industrial products company’s stock after acquiring an additional 600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Middleby were worth $1,266,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MIDD. Signaturefd LLC increased its holdings in shares of Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 168 shares during the period. Clear Street Markets LLC acquired a new stake in Middleby during the third quarter worth approximately $50,000. CWM LLC grew its position in Middleby by 80.2% during the fourth quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after buying an additional 227 shares in the last quarter. Mendota Financial Group LLC increased its stake in Middleby by 13.5% during the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 130 shares during the period. Finally, Naples Global Advisors LLC acquired a new position in Middleby in the 4th quarter valued at $221,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

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

Middleby Stock Performance

Middleby stock opened at $141.25 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.57 billion, a PE ratio of 19.06 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 business’s 50-day moving average price is $151.03 and its two-hundred day moving average price is $139.38.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.21. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.02 billion. Middleby had a net margin of 9.93% and a return on equity of 16.99%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $2.57 EPS. As a group, analysts expect that The Middleby Co. will post 10.27 earnings per share for the current fiscal year.

Insider Transactions at Middleby

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

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.