Louisiana State Employees Retirement System Acquires New Shares in The Middleby Co. (NASDAQ:MIDD)

Louisiana State Employees Retirement System acquired a new stake in The Middleby Co. (NASDAQ:MIDD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,100 shares of the industrial products company’s stock, valued at approximately $2,222,000.

Several other hedge funds have also recently bought and sold shares of MIDD. Covington Capital Management acquired a new position in shares of Middleby in the third quarter worth $25,000. State of Wyoming raised its holdings 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 worth $49,000 after acquiring an additional 76 shares during the last quarter. Clear Street Markets LLC acquired a new position in shares of Middleby in the third quarter worth $50,000. First Horizon Advisors Inc. raised its holdings 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 worth $61,000 after acquiring an additional 93 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Middleby in the first quarter worth $89,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total transaction of $53,014.50. Following the completion of the sale, the director now owns 6,306 shares of the company’s stock, valued at $955,169.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Chapin Sarah Palisi sold 350 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the sale, the director now directly owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The disclosure for this sale can be found here. 1.16% of the stock is owned by company insiders.

Middleby Price Performance

Shares of NASDAQ:MIDD opened at $141.27 on Thursday. The company has a market cap of $7.57 billion, a P/E ratio of 19.06 and a beta of 1.56. 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 Middleby Co. has a 52 week low of $109.59 and a 52 week high of $161.01. The business has a fifty day simple moving average of $151.37 and a 200-day simple moving average of $138.42.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.21. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $2.57 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that The Middleby Co. will post 10.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MIDD shares. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Canaccord Genuity Group boosted their price target on Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Jefferies Financial Group lifted their price objective on Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.38.

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.