Hilltop National Bank Takes $133,000 Position in The Middleby Corporation $MIDD

Hilltop National Bank acquired a new stake in The Middleby Corporation (NASDAQ:MIDD) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 927 shares of the industrial products company’s stock, valued at approximately $133,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its position in shares of Middleby by 116.7% during the first quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 91 shares during the period. Abound Wealth Management increased its holdings in Middleby by 157.5% during the 2nd quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 189 shares during the period. Signaturefd LLC increased its holdings in Middleby by 23.7% during the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 80 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Middleby by 90.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 432 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 205 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Middleby by 60.3% in the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company’s stock valued at $97,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Trading Up 0.4%

Shares of MIDD stock opened at $138.60 on Friday. The company has a market capitalization of $7.02 billion, a P/E ratio of 17.63 and a beta of 1.52. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $135.56 and its two-hundred day moving average is $140.58. The Middleby Corporation has a twelve month low of $118.09 and a twelve month high of $182.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.20 by $0.15. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business had revenue of $977.86 million during the quarter, compared to analysts’ expectations of $979.59 million. During the same quarter in the prior year, the business earned $2.39 earnings per share. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts forecast that The Middleby Corporation will post 9.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MIDD shares. Barclays reduced their target price on shares of Middleby from $180.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Zacks Research upgraded shares of Middleby to a “strong sell” rating in a report on Monday, August 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Middleby in a research note on Saturday, September 27th. Wolfe Research set a $163.00 price target on Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Middleby from $145.00 to $125.00 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $160.71.

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.