Cooke & Bieler LP Buys 481,199 Shares of Midera Food Processing $MFP

Key Points

• Cooke & Bieler LP acquired 481,199 shares of Midera Food Processing in the third quarter, worth approximately $19.6 million, giving it a 1.06% stake. Other institutional investors, including Fort Washington Investment Advisors and Kirr Marbach, also initiated positions.
• Director Robert Nerbonne purchased 10,900 shares for about $491,000, increasing his direct ownership by roughly 51%.
• Analyst sentiment is mixed, with two Buy ratings and three Holds; the consensus rating is Hold and the average price target is $45, compared with the stock’s reported price of $41.30.

Cooke & Bieler LP bought a new position in shares of Midera Food Processing (NASDAQ:MFP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 481,199 shares of the company's stock, valued at approximately $19,643,000. Cooke & Bieler LP owned approximately 1.06% of Midera Food Processing at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in Midera Food Processing in the 3rd quarter valued at about $285,000. Kirr Marbach & Co. LLC IN purchased a new position in shares of Midera Food Processing in the 3rd quarter valued at about $10,743,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Midera Food Processing in the 3rd quarter valued at about $27,924,000.

Insider Transactions at Midera Food Processing

In other Midera Food Processing news, Director Robert Nerbonne purchased 10,900 shares of the firm's stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $45.05 per share, with a total value of $491,045.00. Following the acquisition, the director directly owned 32,371 shares of the company's stock, valued at approximately $1,458,313.55. This represents a 50.77% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. William Blair began coverage on Midera Food Processing in a research report on Tuesday. They set an "outperform" rating for the company. Oppenheimer initiated coverage on shares of Midera Food Processing in a report on Wednesday, July 15th. They issued an "outperform" rating and a $50.00 target price on the stock. KeyCorp initiated coverage on shares of Midera Food Processing in a report on Tuesday, August 25th. They issued a "sector weight" rating on the stock. Robert W. Baird initiated coverage on shares of Midera Food Processing in a research note on Wednesday, July 8th. They issued a "neutral" rating and a $40.00 price target for the company. Finally, Wall Street Zen upgraded shares of Midera Food Processing to a "hold" rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.00.

Midera Food Processing Price Performance

NASDAQ:MFP opened at $41.30 on Thursday. The company has a fifty day simple moving average of $43.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.15 and a current ratio of 1.84. Midera Food Processing has a 12 month low of $33.00 and a 12 month high of $52.58.

Midera Food Processing Profile

Midera Food Processing Inc provides food processing solutions. The Company specializes in the processing of raw material preparation and production and product packaging for retail and food service applications. Midera Food Processing Inc, formerly known as MINERA FOOD PRC, is based in Rosemont, Illinois.

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