Inspire Investing LLC Has $811,000 Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

Inspire Investing LLC decreased its stake in The Middleby Co. (NASDAQ:MIDD) by 7.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,615 shares of the industrial products company’s stock after selling 561 shares during the quarter. Inspire Investing LLC’s holdings in Middleby were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Middleby by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after buying an additional 15,798 shares during the period. EdgePoint Investment Group Inc. grew its position in Middleby by 1.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after purchasing an additional 20,511 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Middleby by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after purchasing an additional 11,552 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of Middleby by 1.6% in the second quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company’s stock valued at $113,526,000 after purchasing an additional 14,413 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Middleby by 43.7% in the second quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after buying an additional 274,513 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MIDD shares. KeyCorp dropped their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. JPMorgan Chase & Co. upped their price objective 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. Finally, Raymond James started coverage on shares of Middleby in a research note on Friday, June 28th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Middleby has an average rating of “Moderate Buy” and an average target price of $156.50.

Middleby Stock Down 2.0 %

MIDD stock opened at $141.31 on Friday. The firm has a market cap of $7.60 billion, a PE ratio of 19.68 and a beta of 1.58. The Middleby Co. has a 1 year low of $109.59 and a 1 year high of $161.01. The company has a fifty day simple moving average of $135.56 and a 200 day simple moving average of $137.22. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69.

Middleby (NASDAQ:MIDD) last announced its quarterly 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 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.47 earnings per share. Sell-side analysts anticipate that The Middleby Co. will post 9.66 EPS 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.