Ensign Peak Advisors Inc decreased its holdings in The Middleby Co. (NASDAQ:MIDD) by 1.2% in the second quarter, HoldingsChannel.com reports. The firm owned 42,000 shares of the industrial products company’s stock after selling 510 shares during the quarter. Ensign Peak Advisors Inc’s holdings in The Middleby were worth $7,277,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MIDD. Xponance Inc. raised its holdings in shares of The Middleby by 38.6% during the second quarter. Xponance Inc. now owns 8,130 shares of the industrial products company’s stock valued at $1,409,000 after acquiring an additional 2,263 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of The Middleby by 17.4% during the second quarter. Teacher Retirement System of Texas now owns 7,359 shares of the industrial products company’s stock valued at $1,275,000 after acquiring an additional 1,089 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd raised its holdings in shares of The Middleby by 7.4% during the second quarter. Rothschild & Co Wealth Management UK Ltd now owns 9,976 shares of the industrial products company’s stock valued at $1,728,000 after acquiring an additional 685 shares during the last quarter. Citigroup Inc. increased its holdings in shares of The Middleby by 89.3% in the first quarter. Citigroup Inc. now owns 214,400 shares of the industrial products company’s stock valued at $35,536,000 after purchasing an additional 101,147 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of The Middleby by 8.4% in the first quarter. Northern Trust Corp now owns 483,633 shares of the industrial products company’s stock valued at $80,161,000 after purchasing an additional 37,493 shares during the last quarter. 99.66% of the stock is owned by institutional investors.
MIDD opened at $168.15 on Thursday. The Middleby Co. has a 52 week low of $97.66 and a 52 week high of $196.49. The business has a fifty day simple moving average of $177.71 and a 200-day simple moving average of $174.96. The firm has a market cap of $9.35 billion, a P/E ratio of 29.19 and a beta of 1.73. The company has a quick ratio of 1.25, a current ratio of 2.09 and a debt-to-equity ratio of 0.84.
In related news, CTO James K. Pool III sold 3,290 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $177.17, for a total transaction of $582,889.30. Following the transaction, the chief technology officer now owns 25,479 shares of the company’s stock, valued at $4,514,114.43. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert A. Nerbonne acquired 1,165 shares of the stock in a transaction on Thursday, September 16th. The stock was acquired at an average cost of $173.09 per share, for a total transaction of $201,649.85. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 10,290 shares of company stock valued at $1,829,659. Company insiders own 1.24% of the company’s stock.
Several research firms recently commented on MIDD. Barclays increased their price target on The Middleby from $195.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 14th. Robert W. Baird increased their price objective on The Middleby from $214.00 to $222.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $207.00.
The Middleby Company Profile
The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry.
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