Trillium Asset Management LLC Acquires 10,047 Shares of The Middleby Co. (NASDAQ:MIDD)

Trillium Asset Management LLC lifted its stake in The Middleby Co. (NASDAQ:MIDD) by 30.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,651 shares of the industrial products company’s stock after acquiring an additional 10,047 shares during the quarter. Trillium Asset Management LLC owned approximately 0.08% of Middleby worth $6,305,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC boosted its holdings in shares of Middleby by 34.6% in the 2nd quarter. CWM LLC now owns 280 shares of the industrial products company’s stock valued at $41,000 after buying an additional 72 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Middleby by 1.3% during the 1st quarter. Quantinno Capital Management LP now owns 5,661 shares of the industrial products company’s stock worth $830,000 after purchasing an additional 74 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Middleby by 44.2% in the 2nd quarter. Global Retirement Partners LLC now owns 248 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 76 shares during the period. Townsquare Capital LLC lifted its stake in Middleby by 1.4% in the 4th quarter. Townsquare Capital LLC now owns 5,940 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 83 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Middleby by 29.0% during the first quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock worth $61,000 after buying an additional 93 shares during the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Middleby

In other news, CTO James K. Pool III sold 500 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $146.82, for a total value of $73,410.00. Following the completion of the transaction, the chief technology officer now owns 35,908 shares of the company’s stock, valued at $5,272,012.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CTO James K. Pool III sold 500 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $146.82, for a total transaction of $73,410.00. Following the completion of the transaction, the chief technology officer now directly owns 35,908 shares in the company, valued at $5,272,012.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James K. Pool III sold 1,250 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $146.68, for a total value of $183,350.00. Following the sale, the chief technology officer now owns 36,408 shares in the company, valued at approximately $5,340,325.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,200 shares of company stock valued at $320,660. Corporate insiders own 1.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark reduced their target price on Middleby from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, August 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $173.00 price objective on shares of Middleby in a report on Wednesday, September 6th. JPMorgan Chase & Co. cut their target price on shares of Middleby from $158.00 to $137.00 and set a “neutral” rating for the company in a research note on Monday, October 16th. Citigroup decreased their price target on shares of Middleby from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, October 13th. Finally, KeyCorp cut their price objective on shares of Middleby from $160.00 to $152.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Middleby Price Performance

MIDD traded down $0.59 on Thursday, hitting $123.94. 13,613 shares of the stock were exchanged, compared to its average volume of 472,650. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.27 and a quick ratio of 1.09. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $162.02. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 14.75 and a beta of 1.56. The business has a 50-day moving average of $124.30 and a two-hundred day moving average of $136.69.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.06. Middleby had a net margin of 11.28% and a return on equity of 17.52%. The business had revenue of $980.65 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $2.18 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that The Middleby Co. will post 9.48 EPS for the current fiscal year.

About Middleby

The Middleby Corporation designs, manufactures, markets, 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, and IoT solutions.