First Citizens Bank & Trust Co. Buys 4,553 Shares of The Middleby Corporation $MIDD

First Citizens Bank & Trust Co. grew its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 271.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,233 shares of the industrial products company’s stock after acquiring an additional 4,553 shares during the period. First Citizens Bank & Trust Co.’s holdings in Middleby were worth $898,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. TCTC Holdings LLC boosted its holdings in Middleby by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 169 shares of the industrial products company’s stock worth $26,000 after buying an additional 91 shares during the period. Abound Wealth Management grew its stake in Middleby by 157.5% in the 2nd quarter. Abound Wealth Management now owns 309 shares of the industrial products company’s stock valued at $44,000 after buying an additional 189 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in Middleby in the 2nd quarter valued at approximately $47,000. Signaturefd LLC grew its stake in Middleby by 23.7% in the 2nd quarter. Signaturefd LLC now owns 418 shares of the industrial products company’s stock valued at $60,000 after buying an additional 80 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 buying an additional 205 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Stock Down 0.4%

Shares of NASDAQ:MIDD opened at $132.63 on Friday. The firm has a fifty day moving average price of $135.20 and a two-hundred day moving average price of $139.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 16.87 and a beta of 1.52.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MIDD. Canaccord Genuity Group lifted their price objective on shares of Middleby from $162.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Wall Street Zen lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Wolfe Research set a $163.00 price objective on shares of Middleby and gave the company an “outperform” rating in a research note on Thursday, September 4th. Zacks Research upgraded shares of Middleby to a “strong sell” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Middleby in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Middleby has an average rating of “Hold” and an average price target of $165.00.

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.