Integrity Alliance LLC. Invests $365,000 in The Middleby Corporation $MIDD

Key Points

• Integrity Alliance LLC has acquired a new position in The Middleby Corporation, purchasing 2,400 shares valued at approximately $365,000.
• Over 98% of Middleby's stock is now owned by institutional investors, with several hedge funds increasing their stakes in the company during the first quarter.
• The Middleby Corporation reported $2.35 earnings per share for the last quarter, surpassing analyst expectations, although their revenue was down 1.4% compared to the same quarter last year.

Integrity Alliance LLC. bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,400 shares of the industrial products company's stock, valued at approximately $365,000.

Several other large investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its stake in Middleby by 5.0% during the first quarter. Burgundy Asset Management Ltd. now owns 1,604 shares of the industrial products company's stock worth $244,000 after purchasing an additional 77 shares during the period. TCTC Holdings LLC raised its holdings in shares of 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 in the last quarter. Xponance Inc. lifted its position in shares of Middleby by 1.6% during the 1st quarter. Xponance Inc. now owns 6,223 shares of the industrial products company's stock worth $946,000 after buying an additional 99 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in Middleby by 0.9% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 11,020 shares of the industrial products company's stock valued at $1,675,000 after buying an additional 100 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Middleby by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,566 shares of the industrial products company's stock valued at $542,000 after acquiring an additional 101 shares during the period. Institutional investors and hedge funds own 98.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MIDD shares. Wolfe Research set a $163.00 price objective on Middleby and gave the company an "outperform" rating in a report on Thursday, September 4th. JPMorgan Chase & Co. cut their price target on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Zacks Research upgraded shares of Middleby to a "strong sell" rating in a research note on Monday, August 11th. Finally, Barclays reduced their target price on Middleby from $180.00 to $165.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $160.71.

Middleby Trading Up 1.3%

Shares of MIDD traded up $1.74 during trading hours on Thursday, hitting $135.69. 228,652 shares of the stock traded hands, compared to its average volume of 897,739. The business has a fifty day moving average of $138.63 and a 200-day moving average of $142.44. The firm has a market capitalization of $6.88 billion, a PE ratio of 17.26 and a beta of 1.54. The Middleby Corporation has a 1-year low of $118.09 and a 1-year high of $182.73. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share 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 firm had revenue of $977.86 million during the quarter, compared to analysts' expectations of $979.59 million. During the same period in the previous year, the business posted $2.39 EPS. The company's quarterly revenue was down 1.4% compared to the same quarter last year. Analysts expect that The Middleby Corporation will post 9.11 EPS for the current 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.