Retirement Systems of Alabama Has $9.09 Million Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

Retirement Systems of Alabama trimmed its position in shares of The Middleby Co. (NASDAQ:MIDD) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,317 shares of the industrial products company’s stock after selling 1,046 shares during the quarter. Retirement Systems of Alabama’s holdings in Middleby were worth $9,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new position in Middleby during the second quarter worth about $225,000. Blue Trust Inc. raised its position in shares of Middleby by 4.8% during the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 93 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Middleby by 2.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the industrial products company’s stock valued at $781,000 after purchasing an additional 161 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Middleby in the 2nd quarter valued at approximately $583,000. Finally, Lecap Asset Management Ltd. bought a new stake in Middleby during the 2nd quarter worth approximately $1,564,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Trading Down 1.3 %

Middleby stock opened at $136.98 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm has a 50-day moving average of $138.77 and a 200-day moving average of $134.61. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 18.89 and a beta of 1.60. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. On average, equities analysts expect that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MIDD shares. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. StockNews.com upgraded Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group cut their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $154.67.

Middleby Company 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.