Goldman Sachs Group Inc. lessened its stake in Middleby Corp (NASDAQ:MIDD) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,445,388 shares of the industrial products company’s stock after selling 2,633 shares during the quarter. Goldman Sachs Group Inc. owned about 0.06% of Middleby worth $464,955,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in Middleby by 0.3% in the 4th quarter. BlackRock Inc. now owns 2,709,132 shares of the industrial products company’s stock worth $365,596,000 after buying an additional 7,976 shares during the period. CI Global Investments Inc. increased its stake in Middleby by 21.4% in the 4th quarter. CI Global Investments Inc. now owns 2,575,842 shares of the industrial products company’s stock worth $347,610,000 after buying an additional 453,817 shares during the period. JPMorgan Chase & Co. increased its stake in Middleby by 3.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,165,111 shares of the industrial products company’s stock worth $148,912,000 after buying an additional 42,185 shares during the period. Bank of New York Mellon Corp increased its stake in Middleby by 258.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,870 shares of the industrial products company’s stock worth $156,794,000 after buying an additional 837,820 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Middleby by 170.9% in the 3rd quarter. Wells Fargo & Company MN now owns 957,172 shares of the industrial products company’s stock worth $122,680,000 after buying an additional 603,869 shares during the period.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares of the company’s stock, valued at approximately $7,993,517. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nassem Ziyad purchased 2,000 shares of the stock in a transaction dated Thursday, March 8th. The stock was purchased 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 disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
Middleby Corp (NASDAQ MIDD) opened at $131.27 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75. The company has a market cap of $7,340.00, a PE ratio of 24.96 and a beta of 1.83. Middleby Corp has a 12-month low of $107.53 and a 12-month high of $142.00.
Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 27th. The industrial products company reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $632.86 million for the quarter, compared to the consensus estimate of $646.83 million. Middleby had a net margin of 12.77% and a return on equity of 22.98%. equities research analysts expect that Middleby Corp will post 6.55 earnings per share for the current fiscal year.
Middleby announced that its board has authorized a share repurchase plan on Tuesday, November 14th that permits the company to repurchase 2,500,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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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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