The Middleby Co. (NASDAQ:MIDD) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank boosted its position in The Middleby Co. (NASDAQ:MIDD) by 106.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,245 shares of the industrial products company’s stock after buying an additional 1,675 shares during the period. First Hawaiian Bank’s holdings in Middleby were worth $522,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MIDD. Balyasny Asset Management L.P. increased its stake in shares of Middleby by 533.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 483,214 shares of the industrial products company’s stock worth $71,115,000 after acquiring an additional 406,958 shares during the period. Oldfield Partners LLP acquired a new stake in shares of Middleby in the 4th quarter valued at approximately $51,736,000. PineStone Asset Management Inc. lifted its holdings in shares of Middleby by 78.6% in the 4th quarter. PineStone Asset Management Inc. now owns 494,461 shares of the industrial products company’s stock valued at $72,770,000 after buying an additional 217,618 shares during the period. Nordea Investment Management AB grew its holdings in Middleby by 13.3% during the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock worth $251,621,000 after acquiring an additional 198,859 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Middleby by 426.4% in the third quarter. The Manufacturers Life Insurance Company now owns 220,232 shares of the industrial products company’s stock worth $28,190,000 after acquiring an additional 178,393 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MIDD shares. William Blair raised shares of Middleby to a “hold” rating in a research note on Wednesday, May 8th. Canaccord Genuity Group dropped their target price on shares of Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, JPMorgan Chase & Co. lowered Middleby from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $145.00 to $118.00 in a research note on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Middleby has a consensus rating of “Moderate Buy” and an average target price of $153.43.

Insider Activity at Middleby

In other Middleby news, Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total value of $252,640.00. Following the completion of the sale, the director now directly owns 10,931 shares of the company’s stock, valued at approximately $1,380,803.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the transaction, the director now directly owns 7,211 shares in the company, valued at $989,204.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John R. Miller III sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $126.32, for a total value of $252,640.00. Following the completion of the sale, the director now directly owns 10,931 shares in the company, valued at $1,380,803.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,385 shares of company stock valued at $304,134. Company insiders own 1.16% of the company’s stock.

Middleby Stock Performance

Middleby stock opened at $125.90 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.28 and a current ratio of 2.40. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The stock has a fifty day moving average of $133.17 and a two-hundred day moving average of $142.03. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 17.53 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.16). Middleby had a net margin of 9.82% and a return on equity of 15.88%. The firm had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. During the same period in the previous year, the firm posted $2.19 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts anticipate that The Middleby Co. will post 9.79 EPS for the current fiscal 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.