The Middleby Co. (NASDAQ:MIDD) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its position in The Middleby Co. (NASDAQ:MIDD) by 1.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 46,913 shares of the industrial products company’s stock after purchasing an additional 608 shares during the period. Texas Permanent School Fund Corp’s holdings in Middleby were worth $7,543,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Middleby by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 5,097,488 shares of the industrial products company’s stock valued at $750,197,000 after purchasing an additional 22,978 shares during the last quarter. Nordea Investment Management AB grew its holdings in Middleby by 13.3% in the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock valued at $251,621,000 after purchasing an additional 198,859 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Middleby by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 617,974 shares of the industrial products company’s stock valued at $90,953,000 after purchasing an additional 13,632 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Middleby by 177.6% in the first quarter. Principal Financial Group Inc. now owns 546,320 shares of the industrial products company’s stock valued at $87,843,000 after purchasing an additional 349,546 shares during the last quarter. Finally, Boston Partners grew its holdings in Middleby by 3.4% in the fourth quarter. Boston Partners now owns 505,943 shares of the industrial products company’s stock valued at $74,449,000 after purchasing an additional 16,813 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insider Buying and Selling at Middleby

In other news, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the transaction, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John R. Miller III sold 2,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total value of $252,640.00. Following the transaction, the director now owns 10,931 shares of the company’s stock, valued at approximately $1,380,803.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total transaction of $32,237.30. Following the completion of the transaction, the director now directly owns 7,211 shares in the company, valued at approximately $989,204.98. The disclosure for this sale can be found here. Insiders have sold a total of 2,385 shares of company stock worth $304,134 in the last quarter. 1.17% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MIDD. William Blair upgraded shares of Middleby to a “hold” rating in a report on Wednesday, May 8th. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lowered shares of Middleby from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $145.00 to $118.00 in a research report on Wednesday, May 22nd. Finally, Canaccord Genuity Group decreased their target price on shares of Middleby from $166.00 to $159.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $153.43.

Middleby Trading Up 2.2 %

Shares of MIDD traded up $2.69 during mid-day trading on Thursday, reaching $125.13. The company had a trading volume of 431,873 shares, compared to its average volume of 426,036. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 17.43 and a beta of 1.61. The firm has a fifty day simple moving average of $127.72 and a 200-day simple moving average of $140.30. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). The company had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.19 EPS. On average, sell-side analysts anticipate that The Middleby Co. will post 9.77 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.