The Middleby Co. (NASDAQ:MIDD) Shares Sold by Hills Bank & Trust Co

Hills Bank & Trust Co decreased its position in The Middleby Co. (NASDAQ:MIDD) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,042 shares of the industrial products company’s stock after selling 150 shares during the quarter. Hills Bank & Trust Co’s holdings in Middleby were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in Middleby by 121.4% in the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 2,425 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Middleby in the 4th quarter valued at about $469,000. First Citizens Bank & Trust Co. acquired a new position in Middleby in the 4th quarter valued at about $219,000. GHP Investment Advisors Inc. raised its stake in Middleby by 13.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock valued at $3,106,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its stake in Middleby by 3.6% in the 4th quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insider Activity

In related news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares of the company’s stock, valued at $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MIDD shares. StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price objective (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Canaccord Genuity Group upped their price objective on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, KeyCorp increased their target price on shares of Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $180.86.

Middleby Stock Performance

Shares of MIDD opened at $151.67 on Friday. The business’s fifty day moving average price is $157.71 and its 200 day moving average price is $144.72. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $182.73. The stock has a market capitalization of $8.13 billion, a PE ratio of 20.92 and a beta of 1.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.38. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the company earned $2.65 earnings per share. Equities research analysts forecast that The Middleby Co. will post 9.11 EPS for the current year.

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.