Strs Ohio Sells 2,279 Shares of The Middleby Co. (NASDAQ:MIDD)

Strs Ohio trimmed its position in shares of The Middleby Co. (NASDAQ:MIDD) by 18.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,789 shares of the industrial products company’s stock after selling 2,279 shares during the period. Strs Ohio’s holdings in Middleby were worth $1,440,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Covington Capital Management bought a new stake in Middleby during the third quarter valued at about $25,000. State of Wyoming lifted its stake in shares of Middleby by 29.5% in the second quarter. State of Wyoming now owns 334 shares of the industrial products company’s stock valued at $49,000 after buying an additional 76 shares during the period. Clear Street Markets LLC bought a new stake in shares of Middleby in the third quarter valued at about $50,000. First Horizon Advisors Inc. lifted its stake in shares of Middleby by 29.0% in the first quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock valued at $61,000 after buying an additional 93 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Middleby in the first quarter valued at about $89,000. 98.55% of the stock is currently owned by institutional investors.

Insider Activity at Middleby

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’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 completion of the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cathy L. Mccarthy sold 1,000 shares of the firm’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 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Middleby Stock Performance

NASDAQ MIDD opened at $142.60 on Monday. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 19.24 and a beta of 1.56. The company has a 50 day moving average of $151.22 and a 200-day moving average of $138.75. The company has a current ratio of 2.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73. The Middleby Co. has a 1-year low of $109.59 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.21. The company had revenue of $1.01 billion during 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%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, equities analysts forecast that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

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.