The Middleby Corporation (NASDAQ:MIDD) was the target of some unusual options trading on Tuesday. Traders acquired 1,058 call options on the company. This represents an increase of 917% compared to the typical volume of 104 call options.

In related news, Director Gordon Obrien sold 5,600 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the completion of the sale, the director now directly owns 11,050 shares in the company, valued at $1,341,580.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Hartline Investment Corp boosted its position in shares of The Middleby by 4.9% during the 3rd quarter. Hartline Investment Corp now owns 54,355 shares of the industrial products company’s stock worth $6,967,000 after purchasing an additional 2,530 shares in the last quarter. DF Dent & Co. Inc. boosted its position in shares of The Middleby by 19.0% during the 3rd quarter. DF Dent & Co. Inc. now owns 20,571 shares of the industrial products company’s stock worth $2,637,000 after purchasing an additional 3,286 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of The Middleby by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 121,008 shares of the industrial products company’s stock worth $15,510,000 after purchasing an additional 2,708 shares in the last quarter. Janney Capital Management LLC bought a new position in shares of The Middleby during the 3rd quarter worth about $384,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of The Middleby by 13.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,411 shares of the industrial products company’s stock worth $950,000 after purchasing an additional 859 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of The Middleby (NASDAQ MIDD) opened at $125.36 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72. The company has a market cap of $6,939.91, a price-to-earnings ratio of 22.90 and a beta of 1.89. The Middleby has a 1 year low of $107.53 and a 1 year high of $150.87.

The Middleby announced that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that permits the company to buyback 2,500,000 outstanding shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

A number of analysts have commented on MIDD shares. BMO Capital Markets reaffirmed a “buy” rating and set a $150.00 price target on shares of The Middleby in a research report on Friday, August 11th. BidaskClub cut shares of The Middleby from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Robert W. Baird cut their price target on shares of The Middleby from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Friday, August 11th. Macquarie raised shares of The Middleby from a “neutral” rating to an “outperform” rating and set a $150.00 price target on the stock in a research report on Tuesday, August 15th. Finally, Citigroup reaffirmed a “neutral” rating and set a $130.00 price target on shares of The Middleby in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $137.22.

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The Middleby Company Profile

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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