California State Teachers Retirement System Sells 2,901 Shares of Middleby Corp (MIDD)
California State Teachers Retirement System lessened its holdings in shares of Middleby Corp (NASDAQ:MIDD) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 91,802 shares of the industrial products company’s stock after selling 2,901 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Middleby worth $12,389,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of MIDD. Bank of New York Mellon Corp raised its position in Middleby by 258.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,161,870 shares of the industrial products company’s stock valued at $156,794,000 after acquiring an additional 837,820 shares in the last quarter. Wells Fargo & Company MN raised its position in Middleby by 170.9% during the third quarter. Wells Fargo & Company MN now owns 957,172 shares of the industrial products company’s stock valued at $122,680,000 after acquiring an additional 603,869 shares in the last quarter. CI Global Investments Inc. raised its position in Middleby by 21.4% during the fourth quarter. CI Global Investments Inc. now owns 2,575,842 shares of the industrial products company’s stock valued at $347,610,000 after acquiring an additional 453,817 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Middleby during the fourth quarter valued at approximately $53,537,000. Finally, TimesSquare Capital Management LLC bought a new position in Middleby during the fourth quarter valued at approximately $49,223,000.
In related news, Director Nassem Ziyad purchased 2,000 shares of the stock in a transaction on Thursday, March 8th. The shares were bought at an average price of $118.50 per share, for a total transaction of $237,000.00. Following the completion of the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $237,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.
Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Tuesday, February 27th. The industrial products company reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Middleby had a return on equity of 22.98% and a net margin of 12.77%. The company had revenue of $632.86 million for the quarter, compared to the consensus estimate of $646.83 million. equities research analysts forecast that Middleby Corp will post 6.49 EPS for the current year.
Several equities analysts recently weighed in on MIDD shares. Zacks Investment Research lowered shares of Middleby from a “hold” rating to a “sell” rating in a research report on Tuesday, December 19th. BidaskClub raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, December 30th. Finally, Citigroup raised their price objective on shares of Middleby from $120.00 to $150.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $138.25.
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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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