A Director at The Middleby (NASDAQ: MIDD) is Buying Shares

By Carrie Williams

Yesterday, a Director at The Middleby (MIDDResearch Report), Chapin Sarah Palisi, bought shares of MIDD for $75.18K.

This recent transaction increases Chapin Sarah Palisi’s holding in the company by 16.78% to a total of $387.7K. In addition to Chapin Sarah Palisi, 6 other MIDD executives reported Buy trades in the last month.

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Based on The Middleby’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $788 million and quarterly net profit of $109 million. In comparison, last year the company earned revenue of $757 million and had a net profit of $94.84 million. The company has a one-year high of $142.98 and a one-year low of $41.73. Currently, The Middleby has an average volume of 778.30K.

The insider sentiment on The Middleby has been positive according to 34 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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The Middleby Corp. engages in the design, manufacture, marketing, and distribution of foodservice equipment. It operates through the following segments: Commercial Foodservice Equipment Group, Food Processing Equipment Group, Residential Kitchen Equipment Group, and Corporate and Other. The Commercial Foodservice Equipment Group segment manufactures, sells, and distributes foodservice equipment for the restaurant and institutional kitchen industry. The Food Processing Equipment Group segment includes manufactures preparation, cooking, packaging food handling, and food safety equipment for the food processing industry. The Residential Kitchen Equipment Group segment manufactures, sells, and distributes kitchen equipment such as cookers, stoves, ovens, refrigerators, dishwashers, microwaves, cooktops, wine coolers, ice machines, ventilation, and outdoor equipment for the residential market. The Corporate and Other segment refers to the corporate and other general company assets and operations. The company was founded in 1888 and is headquartered in Elgin, IL.