First Horizon Advisors Inc. Sells 142 Shares of The Middleby Co. (NASDAQ:MIDD)

First Horizon Advisors Inc. lessened its stake in The Middleby Co. (NASDAQ:MIDD) by 24.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431 shares of the industrial products company’s stock after selling 142 shares during the period. First Horizon Advisors Inc.’s holdings in Middleby were worth $63,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MIDD. Retirement Systems of Alabama increased its position in shares of Middleby by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 67,136 shares of the industrial products company’s stock worth $9,880,000 after acquiring an additional 207 shares during the period. South Dakota Investment Council increased its holdings in Middleby by 2.8% during the 4th quarter. South Dakota Investment Council now owns 20,167 shares of the industrial products company’s stock worth $2,968,000 after purchasing an additional 548 shares during the period. Duality Advisers LP lifted its holdings in shares of Middleby by 224.9% in the 4th quarter. Duality Advisers LP now owns 24,751 shares of the industrial products company’s stock worth $3,643,000 after buying an additional 17,133 shares during the period. Handelsbanken Fonder AB grew its position in shares of Middleby by 7.5% during the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the industrial products company’s stock worth $1,266,000 after buying an additional 600 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Middleby by 80.2% during the fourth quarter. CWM LLC now owns 510 shares of the industrial products company’s stock valued at $75,000 after buying an additional 227 shares during the period. Institutional investors own 98.55% of the company’s stock.

Insider Buying and Selling at Middleby

In other news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction on Thursday, February 22nd. The shares were 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 directly owns 6,306 shares in the company, valued at $955,169.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Middleby 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 transaction of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chapin Sarah Palisi sold 350 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were 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 directly owns 6,306 shares in the company, valued at $955,169.82. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by company insiders.

Middleby Stock Performance

Shares of MIDD stock opened at $141.83 on Wednesday. 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 company has a market cap of $7.60 billion, a PE ratio of 19.14 and a beta of 1.58. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The business’s fifty day simple moving average is $149.50 and its 200-day simple moving average is $140.33.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business posted $2.57 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. Analysts expect that The Middleby Co. will post 10.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIDD has been the topic of a number of research reports. Canaccord Genuity Group raised their target price on shares of Middleby from $164.00 to $166.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Jefferies Financial Group lifted their price objective on shares of Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.