Price T Rowe Associates Inc. MD Raises Stake in The Middleby Corporation $MIDD

Price T Rowe Associates Inc. MD lifted its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 59.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,029,484 shares of the industrial products company’s stock after purchasing an additional 1,133,931 shares during the quarter. Price T Rowe Associates Inc. MD owned about 5.65% of Middleby worth $460,422,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. TCTC Holdings LLC lifted its position in Middleby by 116.7% during the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 91 shares in the last quarter. Versant Capital Management Inc lifted its position in Middleby by 760.0% during the 1st quarter. Versant Capital Management Inc now owns 258 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in Middleby by 220.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 417 shares in the last quarter. UMB Bank n.a. lifted its position in Middleby by 60.3% during the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock worth $97,000 after acquiring an additional 240 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Middleby by 44.9% during the 1st quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company’s stock worth $137,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD opened at $137.31 on Friday. The business’s 50 day moving average is $141.35 and its two-hundred day moving average is $146.12. The Middleby Corporation has a 52-week low of $118.09 and a 52-week high of $182.73. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 17.47 and a beta of 1.58. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The company had revenue of $977.86 million for the quarter, compared to analyst estimates of $979.59 million. During the same period in the prior year, the company posted $2.39 EPS. Middleby’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on MIDD. Barclays reduced their price target on Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Canaccord Genuity Group reduced their price target on Middleby from $186.00 to $162.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Zacks Research raised Middleby to a “strong sell” rating in a research report on Monday, August 11th. Wall Street Zen lowered Middleby from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Robert W. Baird cut their target price on Middleby from $188.00 to $162.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Middleby has an average rating of “Hold” and a consensus price target of $159.00.

Middleby Company 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.