Nationwide Fund Advisors Has $37.423 Million Position in Middleby Corp (MIDD)
Nationwide Fund Advisors cut its stake in shares of Middleby Corp (NASDAQ:MIDD) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 274,263 shares of the industrial products company’s stock after selling 6,179 shares during the period. Nationwide Fund Advisors owned 0.48% of Middleby Corp worth $37,423,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC purchased a new position in Middleby Corp during the fourth quarter valued at $109,000. Integrated Investment Consultants LLC bought a new position in Middleby Corp during the first quarter worth approximately $149,000. KCM Investment Advisors LLC bought a new position in Middleby Corp during the third quarter worth approximately $203,000. Synovus Financial Corp bought a new position in Middleby Corp during the third quarter worth approximately $313,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Middleby Corp during the fourth quarter worth approximately $319,000. 94.69% of the stock is owned by institutional investors and hedge funds.
Middleby Corp (NASDAQ:MIDD) traded up 0.22% during trading on Friday, reaching $137.74. 134,330 shares of the company’s stock were exchanged. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 27.66 and a beta of 1.56. The firm’s 50-day moving average price is $136.54 and its 200-day moving average price is $131.23. Middleby Corp has a 12 month low of $105.98 and a 12 month high of $150.87.
Middleby Corp (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, February 28th. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.14. The business had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $578.84 million. Middleby Corp had a return on equity of 21.83% and a net margin of 11.50%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Middleby Corp will post $5.67 EPS for the current year.
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A number of equities analysts have commented on the stock. William Blair reaffirmed a “market perform” rating on shares of Middleby Corp in a research report on Wednesday, January 4th. Zacks Investment Research raised shares of Middleby Corp from a “sell” rating to a “hold” rating in a research report on Thursday, March 2nd. Finally, KeyCorp assumed coverage on shares of Middleby Corp in a research report on Monday, February 13th. They set an “overweight” rating and a $157.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $141.25.
In other Middleby Corp news, Director Robert B. Lamb sold 2,199 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $139.42, for a total value of $306,584.58. Following the sale, the director now owns 12,879 shares of the company’s stock, valued at approximately $1,795,590.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Treasurer Martin M. Lindsay sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $139.41, for a total value of $697,050.00. Following the completion of the sale, the treasurer now directly owns 76,682 shares in the company, valued at approximately $10,690,237.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,199 shares of company stock worth $2,397,235. Insiders own 2.00% of the company’s stock.
About Middleby Corp
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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