Inspire Investing LLC Grows Position in The Middleby Co. (NASDAQ:MIDD)

Inspire Investing LLC boosted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,057 shares of the industrial products company’s stock after acquiring an additional 442 shares during the period. Inspire Investing LLC’s holdings in Middleby were worth $982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mendota Financial Group LLC increased its holdings in shares of Middleby by 11.9% in the third quarter. Mendota Financial Group LLC now owns 1,287 shares of the industrial products company’s stock worth $179,000 after purchasing an additional 137 shares during the last quarter. UMB Bank n.a. increased its stake in Middleby by 93.2% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Middleby by 91.8% during the 3rd quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 234 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Middleby by 13.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 13,900 shares of the industrial products company’s stock valued at $1,934,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Middleby by 4.5% in the third quarter. Quent Capital LLC now owns 7,492 shares of the industrial products company’s stock valued at $1,061,000 after purchasing an additional 323 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Middleby Trading Down 0.1 %

MIDD stock opened at $133.27 on Monday. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The firm’s 50-day moving average is $137.26 and its 200 day moving average is $135.07. The company has a market capitalization of $7.17 billion, a PE ratio of 18.56 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The business had revenue of $991.55 million for the quarter, compared to analyst estimates of $994.05 million. During the same period last year, the company posted $2.47 earnings per share. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts anticipate that The Middleby Co. will post 9.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MIDD. KeyCorp lowered their price objective on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Robert W. Baird boosted their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Friday, September 13th. Raymond James initiated coverage on Middleby in a report on Friday, June 28th. They issued a “market perform” rating for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.71.

About Middleby

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.