The Middleby Co. (NASDAQ:MIDD) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lessened its stake in The Middleby Co. (NASDAQ:MIDD) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,590 shares of the industrial products company’s stock after selling 140 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Middleby were worth $3,619,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Duality Advisers LP grew its holdings in shares of Middleby by 224.9% in the fourth quarter. Duality Advisers LP now owns 24,751 shares of the industrial products company’s stock valued at $3,643,000 after purchasing an additional 17,133 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Middleby by 7.5% in the 4th quarter. Handelsbanken Fonder AB now owns 8,600 shares of the industrial products company’s stock valued at $1,266,000 after buying an additional 600 shares during the period. CWM LLC increased its holdings in shares of Middleby by 80.2% during 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 last quarter. Signaturefd LLC raised its position in shares of Middleby by 230.1% during the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after buying an additional 168 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in Middleby in the fourth quarter valued at approximately $2,222,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Trading Down 0.7 %

MIDD traded down $0.96 on Wednesday, reaching $144.40. 59,175 shares of the company’s stock were exchanged, compared to its average volume of 337,966. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 19.62 and a beta of 1.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31. The Middleby Co. has a twelve month low of $109.59 and a twelve month high of $161.01. The company’s 50 day moving average is $151.15 and its 200-day moving average is $139.02.

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

Wall Street Analysts Forecast Growth

MIDD has been the subject of several recent analyst reports. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Canaccord Genuity Group increased their target price on shares of Middleby from $164.00 to $166.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Jefferies Financial Group upped their price objective on shares of Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

Insider Buying and Selling at Middleby

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Cathy L. Mccarthy sold 1,000 shares of Middleby 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 sale, the director now directly owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Chapin Sarah Palisi sold 350 shares of the firm’s stock in a transaction that occurred on 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 owns 6,306 shares of the company’s stock, valued at approximately $955,169.82. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.

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.