Amalgamated Bank Acquires 615 Shares of The Middleby Co. (NASDAQ:MIDD)

Amalgamated Bank increased its position in shares of The Middleby Co. (NASDAQ:MIDDFree Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,473 shares of the industrial products company’s stock after buying an additional 615 shares during the period. Amalgamated Bank owned 0.07% of Middleby worth $4,541,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MIDD. Bank of Montreal Can bought a new position in Middleby during the second quarter worth $85,831,000. Select Equity Group L.P. grew its holdings in Middleby by 13.6% in the fourth quarter. Select Equity Group L.P. now owns 4,536,791 shares of the industrial products company’s stock worth $607,476,000 after purchasing an additional 541,956 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Middleby by 23.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,171,437 shares of the industrial products company’s stock worth $290,756,000 after purchasing an additional 407,150 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Middleby by 192.8% during the first quarter. Balyasny Asset Management L.P. now owns 532,784 shares of the industrial products company’s stock valued at $78,111,000 after buying an additional 350,793 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Middleby during the first quarter valued at about $31,419,000. Institutional investors own 96.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MIDD shares. JPMorgan Chase & Co. reduced their price objective on shares of Middleby from $158.00 to $137.00 and set a “neutral” rating for the company in a report on Monday, October 16th. KeyCorp dropped their price target on shares of Middleby from $160.00 to $152.00 and set an “overweight” rating on the stock in a research report on Thursday, November 9th. TheStreet raised shares of Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Jefferies Financial Group raised their price target on shares of Middleby from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Barclays dropped their price target on shares of Middleby from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.25.

Read Our Latest Research Report on MIDD

Middleby Stock Performance

NASDAQ MIDD opened at $142.94 on Thursday. The company’s 50 day moving average is $140.87 and its 200-day moving average is $134.97. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $158.88. The company has a quick ratio of 1.09, a current ratio of 2.27 and a debt-to-equity ratio of 0.82. The firm has a market cap of $7.66 billion, a P/E ratio of 16.94 and a beta of 1.56.

Middleby (NASDAQ:MIDDGet Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.06. The company had revenue of $980.65 million for the quarter, compared to analyst estimates of $1.02 billion. Middleby had a net margin of 11.28% and a return on equity of 17.52%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 earnings per share. Sell-side analysts predict that The Middleby Co. will post 9.45 earnings per share for the current year.

Middleby Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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