UMB Bank n.a. Purchases 136 Shares of The Middleby Co. (NASDAQ:MIDD)

UMB Bank n.a. boosted its position in The Middleby Co. (NASDAQ:MIDD) by 93.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282 shares of the industrial products company’s stock after purchasing an additional 136 shares during the quarter. UMB Bank n.a.’s holdings in Middleby were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MIDD. Pacer Advisors Inc. boosted its stake in Middleby by 11,853.1% in the 2nd quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock valued at $118,609,000 after purchasing an additional 959,272 shares during the period. Select Equity Group L.P. lifted its position in shares of Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock valued at $779,835,000 after acquiring an additional 846,884 shares during the period. Principal Financial Group Inc. lifted its position in shares of Middleby by 177.6% during the 1st quarter. Principal Financial Group Inc. now owns 546,320 shares of the industrial products company’s stock valued at $87,843,000 after acquiring an additional 349,546 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Middleby by 421.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 356,714 shares of the industrial products company’s stock valued at $57,356,000 after acquiring an additional 288,314 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Middleby by 43.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock valued at $110,768,000 after acquiring an additional 274,513 shares during the period. 98.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 target price on shares of Middleby in a research report on Friday, September 13th. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. JPMorgan Chase & Co. upped their price objective on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Raymond James started coverage on Middleby in a research report on Friday, June 28th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.71.

Middleby Price Performance

Shares of MIDD opened at $137.80 on Tuesday. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The business has a 50-day simple moving average of $137.25 and a two-hundred day simple moving average of $134.91. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The stock has a market cap of $7.41 billion, a PE ratio of 19.19 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.47 earnings per share. Analysts anticipate that The Middleby Co. will post 9.63 earnings per share for the current fiscal year.

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.