Middleby Corp (NASDAQ:MIDD) saw some unusual options trading on Monday. Traders purchased 1,179 put options on the stock. This is an increase of approximately 767% compared to the typical volume of 136 put options.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of Middleby stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the completion of the sale, the treasurer now owns 61,726 shares of the company’s stock, valued at $7,993,517. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nassem Ziyad purchased 2,000 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were purchased at an average cost of $118.50 per share, with a total value of $237,000.00. Following the purchase, the director now owns 2,000 shares of the company’s stock, valued at $237,000. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Middleby by 0.3% in the fourth 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 holdings in shares of Middleby by 21.4% in the fourth 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 holdings in shares of Middleby by 3.8% in the third 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 holdings in shares of Middleby by 258.5% in the fourth 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 holdings in shares of Middleby by 170.9% in the third 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.
Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Tuesday, February 27th. The industrial products company reported $1.48 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.48. The firm had revenue of $632.86 million for the quarter, compared to the consensus estimate of $646.83 million. Middleby had a return on equity of 22.98% and a net margin of 12.77%. sell-side analysts forecast that Middleby will post 6.55 EPS for the current year.
Middleby declared that its board has approved a stock buyback program on Tuesday, November 14th that authorizes the company to repurchase 2,500,000 outstanding shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several equities research analysts have issued reports on MIDD shares. Zacks Investment Research lowered Middleby from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Deutsche Bank dropped their price target on Middleby from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Friday, November 17th. BidaskClub raised Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, December 30th. Finally, Citigroup lifted their price target on Middleby from $120.00 to $150.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock 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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