The Middleby Co. (NASDAQ:MIDD) Shares Bought by Amalgamated Bank

Amalgamated Bank raised its holdings in The Middleby Co. (NASDAQ:MIDD) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 33,650 shares of the industrial products company’s stock after acquiring an additional 1,156 shares during the period. Amalgamated Bank owned 0.06% of Middleby worth $4,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of Middleby during the 1st quarter worth $25,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after buying an additional 162 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after buying an additional 126 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Middleby during the 2nd quarter worth $45,000. Finally, Crewe Advisors LLC increased its holdings in shares of Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after buying an additional 310 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 $141.31 on Friday. 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 firm has a 50-day moving average of $135.88 and a two-hundred day moving average of $137.04. The stock has a market cap of $7.60 billion, a P/E 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.

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Robert W. Baird upped their price objective on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp lowered their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price target on shares of Middleby in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. increased their price target on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Middleby currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

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.