Thompson Siegel & Walmsley LLC Takes Position in The Middleby Co. (NASDAQ:MIDD)

Thompson Siegel & Walmsley LLC purchased a new stake in The Middleby Co. (NASDAQ:MIDD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 198,818 shares of the industrial products company’s stock, valued at approximately $26,930,000.

Other large investors have also modified their holdings of the company. Lorne Steinberg Wealth Management Inc. increased its stake in Middleby by 0.3% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock valued at $3,323,000 after purchasing an additional 70 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 78 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Middleby by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock valued at $224,000 after acquiring an additional 81 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Middleby by 4.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 88 shares during the last quarter. Finally, Townsquare Capital LLC boosted its holdings in shares of Middleby by 1.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $152.13 on Thursday. The company’s fifty day moving average price is $157.09 and its 200 day moving average price is $144.60. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $182.73. The company has a market capitalization of $8.16 billion, a PE ratio of 20.98 and a beta of 1.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $2.65 earnings per share. On average, research analysts predict that The Middleby Co. will post 9.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Canaccord Genuity Group upped their price objective on shares of Middleby from $192.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Robert W. Baird upped their price objective on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price objective on shares of Middleby from $145.00 to $150.00 and gave the company an “underweight” rating in a report on Wednesday, February 26th. KeyCorp upped their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $180.86.

Insiders Place Their Bets

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares in the company, valued at approximately $999,209.61. This represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.17% of the stock is currently owned by company insiders.

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.