Teton Advisors Inc. trimmed its holdings in The Middleby Co. (NASDAQ:MIDD – Free Report) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,020 shares of the industrial products company’s stock after selling 200 shares during the period. Teton Advisors Inc.’s holdings in Middleby were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in Middleby by 4,200.0% during the 1st quarter. Global Retirement Partners LLC now owns 172 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 168 shares in the last quarter. Covington Capital Management acquired a new position in shares of Middleby in the third quarter valued at approximately $25,000. Spire Wealth Management acquired a new stake in shares of Middleby during the second quarter worth $33,000. CWM LLC lifted its position in 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 acquiring an additional 72 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Middleby by 29.0% in the 1st quarter. First Horizon Advisors Inc. now owns 414 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 93 shares during the period. 96.66% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have issued reports on MIDD shares. Canaccord Genuity Group reissued a “buy” rating and issued a $173.00 price target on shares of Middleby in a research note on Wednesday, September 6th. KeyCorp reduced their price target on Middleby from $160.00 to $152.00 and set an “overweight” rating for the company in a research report on Thursday, November 9th. StockNews.com began coverage on shares of Middleby in a research note on Thursday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. cut their price objective on shares of Middleby from $158.00 to $137.00 and set a “neutral” rating on the stock in a research report on Monday, October 16th. Finally, Benchmark decreased their target price on shares of Middleby from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.00.
Insider Activity at Middleby
In related news, Director Robert A. Nerbonne acquired 720 shares of Middleby stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $139.32 per share, with a total value of $100,310.40. Following the completion of the transaction, the director now directly owns 17,996 shares in the company, valued at approximately $2,507,202.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Chapin Sarah Palisi sold 450 shares of Middleby stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $142.00, for a total transaction of $63,900.00. Following the completion of the sale, the director now directly owns 6,806 shares of the company’s stock, valued at approximately $966,452. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Nerbonne acquired 720 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was purchased at an average cost of $139.32 per share, for a total transaction of $100,310.40. Following the completion of the acquisition, the director now owns 17,996 shares in the company, valued at $2,507,202.72. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 2,200 shares of company stock worth $320,660. Company insiders own 1.16% of the company’s stock.
Middleby Stock Performance
NASDAQ MIDD traded up $1.80 on Friday, hitting $124.78. 505,296 shares of the stock were exchanged, compared to its average volume of 570,468. The company has a market capitalization of $6.69 billion, a PE ratio of 14.78 and a beta of 1.56. 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 business’s fifty day moving average is $123.70 and its 200 day moving average is $136.41. The Middleby Co. has a 52 week low of $109.59 and a 52 week high of $162.02.
Middleby (NASDAQ:MIDD – Get Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.06. Middleby had a return on equity of 17.52% and a net margin of 11.28%. The firm had revenue of $980.65 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Research analysts anticipate that The Middleby Co. will post 9.5 EPS for the current fiscal year.
Middleby Company Profile
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.
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