CNB Bank Sells 1,473 Shares of The Middleby Co. (NASDAQ:MIDD)

CNB Bank decreased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 62.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 893 shares of the industrial products company’s stock after selling 1,473 shares during the period. CNB Bank’s holdings in Middleby were worth $131,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its holdings in shares of Middleby by 218.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 21,842 shares of the industrial products company’s stock worth $3,214,000 after purchasing an additional 14,991 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Middleby by 13.3% during the 4th quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock worth $251,621,000 after purchasing an additional 198,859 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Middleby by 54.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company’s stock worth $4,910,000 after purchasing an additional 13,493 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Middleby by 28.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 56,712 shares of the industrial products company’s stock worth $7,259,000 after purchasing an additional 12,589 shares in the last quarter. Finally, Cardinal Capital Management grew its holdings in shares of Middleby by 2.2% during the 4th quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company’s stock worth $843,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MIDD. TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research note on Monday, January 8th. Jefferies Financial Group raised their price objective on Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Canaccord Genuity Group raised their price objective on Middleby from $164.00 to $166.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Middleby has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Middleby Trading Up 1.1 %

Middleby stock traded up $1.59 during trading hours on Friday, hitting $142.60. The stock had a trading volume of 290,269 shares, compared to its average volume of 266,979. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 19.24 and a beta of 1.56. The Middleby Co. has a one year low of $109.59 and a one year high of $161.01. The business’s 50 day simple moving average is $151.22 and its 200-day simple moving average is $138.55.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.44 by $0.21. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $2.57 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that The Middleby Co. will post 10.32 EPS for the current fiscal year.

Insider Transactions at Middleby

In other news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Middleby news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the sale, the director now directly owns 6,306 shares in the company, valued at $955,169.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the sale, the director now owns 7,971 shares of the company’s stock, valued at $1,220,519.52. The disclosure for this sale can be found here. 1.16% of the stock is owned by corporate insiders.

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.