Fruth Investment Management Has $2.21 Million Position in The Middleby Co. (NASDAQ:MIDD)

Fruth Investment Management lessened its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 0.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 16,345 shares of the industrial products company’s stock after selling 90 shares during the quarter. Fruth Investment Management’s holdings in Middleby were worth $2,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Planning increased its position in Middleby by 6.8% during the second quarter. Creative Planning now owns 7,700 shares of the industrial products company’s stock worth $944,000 after acquiring an additional 492 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Middleby by 13.9% during the third quarter. Handelsbanken Fonder AB now owns 13,900 shares of the industrial products company’s stock worth $1,934,000 after purchasing an additional 1,700 shares during the period. GAMMA Investing LLC raised its position in shares of Middleby by 91.8% in the third quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after buying an additional 234 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Middleby by 93.2% in the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after buying an additional 136 shares during the period. Finally, Mendota Financial Group LLC grew its position in Middleby by 11.9% during the third quarter. Mendota Financial Group LLC now owns 1,287 shares of the industrial products company’s stock worth $179,000 after buying an additional 137 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MIDD. KeyCorp upped their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Canaccord Genuity Group increased their price objective on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. increased their price target on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a research report on Monday. Finally, Robert W. Baird boosted their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Middleby currently has a consensus rating of “Hold” and a consensus target price of $178.83.

Middleby Stock Down 1.8 %

Shares of NASDAQ:MIDD opened at $166.54 on Thursday. The company has a market capitalization of $8.96 billion, a PE ratio of 22.97 and a beta of 1.63. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $177.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a fifty day moving average of $144.41 and a 200-day moving average of $139.73.

Middleby Profile

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.