Middleby Corp (NASDAQ:MIDD) Director Nassem Ziyad purchased 1,000 shares of the company’s stock in a transaction on Friday, November 16th. The shares were bought at an average cost of $111.00 per share, with a total value of $111,000.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $222,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Nassem Ziyad also recently made the following trade(s):
- On Thursday, March 8th, Nassem Ziyad acquired 2,000 shares of Middleby stock. The stock was acquired at an average cost of $118.50 per share, with a total value of $237,000.00.
Shares of Middleby Corp (NASDAQ MIDD) opened at $131.27 on Friday. The company has a market capitalization of $7,340.00, a price-to-earnings ratio of 24.96 and a beta of 1.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.97 and a quick ratio of 1.02. Middleby Corp has a 1 year low of $107.53 and a 1 year high of $142.00.
Middleby declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 14th that permits the company to repurchase 2,500,000 outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in Middleby by 15.4% in the third quarter. Pacer Advisors Inc. now owns 10,654 shares of the industrial products company’s stock valued at $1,366,000 after acquiring an additional 1,419 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Middleby by 171.2% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,401 shares of the industrial products company’s stock valued at $820,000 after acquiring an additional 4,041 shares during the last quarter. Strs Ohio boosted 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 acquiring an additional 74,531 shares during the last quarter. Thomas White International Ltd. acquired a new position in Middleby in the fourth quarter valued at $502,000. Finally, Janney Capital Management LLC acquired a new position in Middleby in the third quarter valued at $384,000.
MIDD has been the subject of a number of recent analyst reports. Deutsche Bank lowered their price objective on Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Friday, November 17th. BidaskClub raised Middleby from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. Zacks Investment Research downgraded Middleby from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. Finally, Citigroup lifted their price objective on Middleby from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Middleby presently has a consensus rating of “Hold” and a consensus target price of $138.25.
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Middleby Company Profile
The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.
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