Handelsinvest Investeringsforvaltning raised its position in Middleby Co. (NASDAQ:MIDD) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,681 shares of the industrial products company’s stock after purchasing an additional 9,300 shares during the period. Middleby comprises about 2.3% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 14th largest position. Handelsinvest Investeringsforvaltning owned about 0.15% of Middleby worth $10,235,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MIDD. BlackRock Inc. lifted its holdings in shares of Middleby by 0.3% during the 4th quarter. BlackRock Inc. now owns 2,709,132 shares of the industrial products company’s stock worth $365,596,000 after acquiring an additional 7,976 shares during the period. CI Global Investments Inc. raised its holdings in Middleby by 21.4% in the fourth quarter. CI Global Investments Inc. now owns 2,575,842 shares of the industrial products company’s stock valued at $347,610,000 after buying an additional 453,817 shares during the period. Bank of New York Mellon Corp raised its holdings in Middleby by 258.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,161,870 shares of the industrial products company’s stock valued at $156,794,000 after buying an additional 837,820 shares during the period. Wells Fargo & Company MN raised its holdings in Middleby by 4.2% in the first quarter. Wells Fargo & Company MN now owns 982,950 shares of the industrial products company’s stock valued at $121,679,000 after buying an additional 39,340 shares during the period. Finally, Strs Ohio raised its holdings in Middleby by 15.7% in the fourth quarter. Strs Ohio now owns 547,795 shares of the industrial products company’s stock valued at $73,924,000 after buying an additional 74,531 shares during the period.
Shares of Middleby opened at $103.96 on Friday, according to Marketbeat.com. Middleby Co. has a 12-month low of $104.53 and a 12-month high of $105.46. The firm has a market cap of $5.84 billion, a P/E ratio of 16.88 and a beta of 1.81. The company has a current ratio of 2.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.72.
Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.48. Middleby had a return on equity of 22.03% and a net margin of 12.25%. The firm had revenue of $632.86 million for the quarter, compared to analysts’ expectations of $646.83 million. analysts predict that Middleby Co. will post 6.06 EPS for the current fiscal year.
Several research analysts recently commented on MIDD shares. Zacks Investment Research lowered shares of Middleby from a “buy” rating to a “hold” rating in a report on Wednesday, January 24th. Citigroup increased their price objective on shares of Middleby from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. BidaskClub downgraded shares of Middleby from a “hold” rating to a “sell” rating in a research report on Saturday, February 24th. Wellington Shields downgraded shares of Middleby from an “accumulate” rating to a “hold” rating in a research report on Thursday, March 1st. Finally, Susquehanna Bancshares set a $149.00 price objective on shares of Middleby and gave the company a “buy” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Middleby currently has an average rating of “Hold” and a consensus price target of $134.50.
In related news, Director Nassem Ziyad bought 2,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were bought at an average cost of $118.50 per share, for a total transaction of $237,000.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at approximately $237,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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