Capstone Investment Advisors LLC Takes $411,000 Position in The Middleby Co. (NASDAQ:MIDD)

Capstone Investment Advisors LLC bought a new stake in The Middleby Co. (NASDAQ:MIDD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,790 shares of the industrial products company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MIDD. Signaturefd LLC raised its stake in shares of Middleby by 230.1% in the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 168 shares during the period. Clear Street Markets LLC purchased a new position in Middleby in the 3rd quarter worth about $50,000. Assetmark Inc. increased its stake in Middleby by 1,158.3% in the 4th quarter. Assetmark Inc. now owns 453 shares of the industrial products company’s stock worth $67,000 after buying an additional 417 shares during the period. CWM LLC increased its stake in Middleby by 80.2% in the 4th quarter. CWM LLC now owns 510 shares of the industrial products company’s stock worth $75,000 after buying an additional 227 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in Middleby in the 4th quarter worth about $75,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Insider Buying and Selling

In related news, Director Chapin Sarah Palisi sold 235 shares of Middleby stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,211 shares in the company, valued at approximately $989,204.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Middleby news, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $989,204.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. 1.16% of the stock is owned by company insiders.

Middleby Stock Up 3.9 %

NASDAQ:MIDD opened at $128.91 on Friday. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The stock has a market capitalization of $6.93 billion, a P/E ratio of 17.95 and a beta of 1.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 2.40. The company’s 50-day simple moving average is $141.43 and its 200-day simple moving average is $141.97.

Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS 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 return on equity of 15.88% and a net margin of 9.82%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $2.19 earnings per share. On average, equities analysts anticipate that The Middleby Co. will post 9.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on MIDD shares. William Blair raised shares of Middleby to a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. downgraded shares of Middleby from a “neutral” rating to an “underweight” rating and cut their target price for the company from $145.00 to $118.00 in a research report on Wednesday, May 22nd. Finally, Canaccord Genuity Group cut 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, two have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.43.

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.