State of Alaska Department of Revenue Buys 165 Shares of The Middleby Corporation (NASDAQ:MIDD)

State of Alaska Department of Revenue increased its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,302 shares of the industrial products company’s stock after purchasing an additional 165 shares during the quarter. State of Alaska Department of Revenue’s holdings in Middleby were worth $957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MIDD. Versant Capital Management Inc boosted its position in Middleby by 760.0% in the first quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Middleby during the 4th quarter valued at approximately $71,000. Principal Securities Inc. raised its holdings in Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after buying an additional 78 shares during the period. Coppell Advisory Solutions LLC raised its holdings in Middleby by 220.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock valued at $82,000 after buying an additional 417 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Middleby by 60.3% during the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock valued at $97,000 after acquiring an additional 240 shares during the period. 98.55% of the stock is owned by institutional investors.

Insider Buying and Selling at Middleby

In related news, Director Edward P. Garden bought 137,000 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average cost of $148.03 per share, with a total value of $20,280,110.00. Following the purchase, the director now directly owns 3,276,834 shares of the company’s stock, valued at $485,069,737.02. This trade represents a 4.36% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired 640,968 shares of company stock worth $93,495,270 over the last quarter. 6.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, April 10th. Canaccord Genuity Group decreased their price target on Middleby from $200.00 to $186.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Robert W. Baird reduced their price objective on Middleby from $188.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, May 8th. Finally, KeyCorp dropped their target price on Middleby from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $168.14.

Middleby Stock Performance

NASDAQ MIDD opened at $144.75 on Friday. The company has a market cap of $7.77 billion, a PE ratio of 18.09 and a beta of 1.61. The stock’s 50 day simple moving average is $141.98 and its 200-day simple moving average is $147.03. The Middleby Corporation has a 1-year low of $118.41 and a 1-year high of $182.73. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.14. Middleby had a return on equity of 14.47% and a net margin of 11.26%. The firm had revenue of $906.63 million for the quarter, compared to the consensus estimate of $941.46 million. During the same quarter last year, the business posted $1.89 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Middleby Profile

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.