Postrock Partners LLC Makes New $270,000 Investment in The Middleby Co. (NASDAQ:MIDD)

Postrock Partners LLC bought a new position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,995 shares of the industrial products company's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its position in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after buying an additional 190 shares during the period. Avior Wealth Management LLC increased its holdings in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 287 shares in the last quarter. UMB Bank n.a. increased its holdings in Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 116 shares in the last quarter. Principal Securities Inc. increased its holdings in Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 78 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Middleby by 27.2% during the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 98.55% of the company's stock.

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Middleby Stock Down 0.1 %

Shares of MIDD traded down $0.08 during trading hours on Tuesday, reaching $153.44. The stock had a trading volume of 436,896 shares, compared to its average volume of 594,214. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $182.73. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 21.16 and a beta of 1.72. The firm has a 50-day simple moving average of $158.09 and a 200 day simple moving average of $144.85.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.38. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.69 million. During the same quarter in the prior year, the firm posted $2.65 earnings per share. The business's quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current fiscal year.

Insider Activity at Middleby

In other Middleby 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 value of $81,755.00. Following the transaction, the director now directly owns 6,111 shares of the company's stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MIDD. StockNews.com cut Middleby from a "buy" rating to a "hold" rating in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target 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 issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. KeyCorp lifted their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Finally, Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $180.86.

About Middleby

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.