Rhumbline Advisers Has $23.27 Million Holdings in The Middleby Co. (NASDAQ:MIDD)

Rhumbline Advisers decreased its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,723 shares of the industrial products company's stock after selling 2,019 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Middleby worth $23,270,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in Middleby by 4,200.0% during the 1st quarter. Global Retirement Partners LLC now owns 172 shares of the industrial products company's stock worth $25,000 after buying an additional 168 shares in the last quarter. Covington Capital Management bought a new position in Middleby in the third quarter valued at approximately $25,000. Belpointe Asset Management LLC acquired a new position in shares of Middleby during the 4th quarter worth approximately $26,000. IFP Advisors Inc raised its stake in shares of Middleby by 34.1% during the 4th quarter. IFP Advisors Inc now owns 307 shares of the industrial products company's stock worth $32,000 after purchasing an additional 78 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Middleby in the 4th quarter valued at approximately $49,000. Institutional investors own 96.66% of the company's stock.

In related news, CTO James K. Pool III sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $149.01, for a total value of $223,515.00. Following the completion of the sale, the chief technology officer now directly owns 37,658 shares in the company, valued at $5,611,418.58. The sale was disclosed in a filing with the SEC, which is available at this link. In other Middleby news, Director Chapin Sarah Palisi sold 450 shares of the firm's stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $142.00, for a total value of $63,900.00. Following the transaction, the director now directly owns 6,806 shares of the company's stock, valued at approximately $966,452. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James K. Pool III sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $149.01, for a total transaction of $223,515.00. Following the completion of the transaction, the chief technology officer now owns 37,658 shares of the company's stock, valued at $5,611,418.58. The disclosure for this sale can be found here. Insiders sold 3,200 shares of company stock valued at $475,890 in the last quarter. Company insiders own 1.16% of the company's stock.

Several analysts have issued reports on MIDD shares. BMO Capital Markets upped their price target on shares of Middleby from $170.00 to $175.00 in a research report on Monday, May 15th. Citigroup raised their target price on shares of Middleby from $165.00 to $166.00 and gave the company a "buy" rating in a research note on Tuesday, July 18th. Benchmark lowered their price target on Middleby from $180.00 to $170.00 and set a "buy" rating on the stock in a research report on Monday, August 7th. Finally, StockNews.com assumed coverage on Middleby in a research report on Thursday, August 17th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $174.00.

Read Our Latest Stock Analysis on Middleby

NASDAQ:MIDD opened at $143.46 on Tuesday. The stock has a 50 day simple moving average of $145.02 and a 200 day simple moving average of $143.95. The stock has a market cap of $7.69 billion, a P/E ratio of 17.18 and a beta of 1.55. The Middleby Co. has a 1-year low of $122.33 and a 1-year high of $162.02. The company has a current ratio of 2.32, a quick ratio of 1.09 and a debt-to-equity ratio of 0.90.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.47 earnings per share for the quarter, topping analysts' consensus estimates of $2.32 by $0.15. Middleby had a return on equity of 18.15% and a net margin of 11.14%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The company's revenue was up 2.7% on a year-over-year basis. Research analysts anticipate that The Middleby Co. will post 9.64 earnings per share for the current year.

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.

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