Neuberger Berman Group LLC Purchases 1,400 Shares of The Middleby Co. (NASDAQ:MIDD)

Neuberger Berman Group LLC grew its position in shares of The Middleby Co. (NASDAQ:MIDDFree Report) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,601 shares of the industrial products company’s stock after acquiring an additional 1,400 shares during the quarter. Neuberger Berman Group LLC’s holdings in Middleby were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. M&T Bank Corp grew its holdings in Middleby by 4.5% during the fourth quarter. M&T Bank Corp now owns 2,552 shares of the industrial products company’s stock worth $375,000 after buying an additional 110 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Middleby by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 23,362 shares of the industrial products company’s stock worth $2,990,000 after buying an additional 120 shares in the last quarter. Cardinal Capital Management grew its holdings in Middleby by 2.2% during the fourth quarter. Cardinal Capital Management now owns 5,728 shares of the industrial products company’s stock worth $843,000 after buying an additional 124 shares in the last quarter. Mendota Financial Group LLC grew its holdings in Middleby by 13.5% during the fourth quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company’s stock worth $160,000 after buying an additional 130 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Middleby by 230.1% during the fourth quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock worth $35,000 after buying an additional 168 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 0.5 %

MIDD stock opened at $126.46 on Tuesday. The stock’s fifty day simple moving average is $138.30 and its two-hundred day simple moving average is $142.32. The company has a current ratio of 2.40, a quick ratio of 1.28 and a debt-to-equity ratio of 0.72. The Middleby Co. has a 1-year low of $109.59 and a 1-year high of $161.01. The stock has a market cap of $6.80 billion, a P/E ratio of 17.61 and a beta of 1.60.

Middleby (NASDAQ:MIDDGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.16). Middleby had a net margin of 9.82% and a return on equity of 15.88%. The firm had revenue of $926.90 million for the quarter, compared to analysts’ expectations of $979.05 million. During the same period in the prior year, the company earned $2.19 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Analysts expect that The Middleby Co. will post 9.8 EPS for the current year.

Insider Activity

In other news, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the transaction, the director now owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $126.32, for a total transaction of $252,640.00. Following the sale, the director now directly owns 10,931 shares in the company, valued at approximately $1,380,803.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 235 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the sale, the director now owns 7,211 shares in the company, valued at $989,204.98. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

MIDD has been the subject of several recent research reports. JPMorgan Chase & Co. downgraded Middleby from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $145.00 to $118.00 in a report on Wednesday, May 22nd. Canaccord Genuity Group decreased their price target on Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, William Blair upgraded Middleby to a “hold” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $153.43.

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Middleby Profile

(Free Report)

The Middleby Corporation designs, markets, manufactures, 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, IoT solutions, and controls development and manufacturing.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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