Blair William & Co. IL Has $407,000 Stock Holdings in The Middleby Corporation (NASDAQ:MIDD)

Blair William & Co. IL cut its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 39.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,677 shares of the industrial products company’s stock after selling 1,721 shares during the period. Blair William & Co. IL’s holdings in Middleby were worth $407,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MIDD. Garden Investment Management L.P. acquired a new position in shares of Middleby during the 4th quarter worth about $101,958,000. Ameriprise Financial Inc. increased its stake in shares of Middleby by 237.2% during the 4th quarter. Ameriprise Financial Inc. now owns 366,293 shares of the industrial products company’s stock worth $49,614,000 after purchasing an additional 257,669 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Middleby by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,247,671 shares of the industrial products company’s stock worth $169,000,000 after purchasing an additional 150,709 shares during the last quarter. Wolf Hill Capital Management LP increased its stake in shares of Middleby by 79.8% during the 4th quarter. Wolf Hill Capital Management LP now owns 331,132 shares of the industrial products company’s stock worth $44,852,000 after purchasing an additional 146,945 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Middleby by 21,915.1% during the 1st quarter. GAMMA Investing LLC now owns 136,934 shares of the industrial products company’s stock worth $20,811,000 after purchasing an additional 136,312 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

NASDAQ MIDD opened at $119.99 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $6.08 billion, a P/E ratio of 15.27 and a beta of 1.58. The Middleby Corporation has a 12-month low of $118.09 and a 12-month high of $182.73. The firm has a 50-day moving average price of $143.83 and a two-hundred day moving average price of $148.16.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data 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. The firm had revenue of $977.86 million during the quarter, compared to the consensus estimate of $979.59 million. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 EPS. Analysts anticipate that The Middleby Corporation will post 9.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Robert W. Baird decreased their price target on shares of Middleby from $188.00 to $162.00 and set an “outperform” rating on the stock in a research note on Thursday, May 8th. Canaccord Genuity Group decreased their price target on shares of Middleby from $186.00 to $162.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Barclays decreased their price target on shares of Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. JPMorgan Chase & Co. decreased their price target on shares of Middleby from $145.00 to $125.00 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.00.

Insider Transactions at Middleby

In other news, Director Edward P. Garden purchased 137,000 shares of Middleby stock in a transaction that occurred on Wednesday, May 21st. The shares were acquired at an average price of $148.03 per share, for a total transaction of $20,280,110.00. Following the transaction, the director owned 3,276,834 shares of the company’s stock, valued at approximately $485,069,737.02. The trade was a 4.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have bought 188,571 shares of company stock valued at $27,945,190. Insiders own 6.18% of the company’s stock.

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.