The Middleby Co. (NASDAQ:MIDD) Position Boosted by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 3.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,650 shares of the industrial products company’s stock after buying an additional 1,156 shares during the quarter. Amalgamated Bank’s holdings in Middleby were worth $4,126,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MIDD. Rise Advisors LLC bought a new position in Middleby in the first quarter worth about $25,000. Allspring Global Investments Holdings LLC lifted its holdings in Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 162 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 126 shares during the last quarter. Crewe Advisors LLC lifted its holdings in Middleby by 620.0% in the first quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 310 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Middleby in the first quarter valued at approximately $63,000. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MIDD shares. KeyCorp dropped their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Raymond James started coverage on shares of Middleby in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $164.00 price target on shares of Middleby in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Middleby currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Middleby Price Performance

NASDAQ MIDD opened at $141.31 on Friday. The firm has a market capitalization of $7.60 billion, a PE ratio of 19.68 and a beta of 1.58. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.50 and a quick ratio of 1.43. The company’s 50 day simple moving average is $135.88 and its 200 day simple moving average is $137.04.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $2.47 earnings per share. As a group, equities research analysts forecast that The Middleby Co. will post 9.66 EPS for the current fiscal year.

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.