Midera Food Processing $MFP Shares Newly Purchased by Kirr Marbach & Co. LLC IN

Key Points

• Kirr Marbach & Co. LLC IN purchased 263,172 shares of Midera Food Processing in the third quarter, valued at approximately $10.7 million and representing 0.58% of the company.
• Midera Food Processing shares opened at $41.84, within a 52-week range of $33.00 to $52.58. The company reported moderate leverage, with a debt-to-equity ratio of 0.32.
• Analyst sentiment is mixed but leans toward Hold: two analysts rate the stock Buy and three rate it Hold, with a consensus price target of $45.00.

Kirr Marbach & Co. LLC IN bought a new position in Midera Food Processing (NASDAQ:MFP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 263,172 shares of the company's stock, valued at approximately $10,743,000. Midera Food Processing comprises 2.1% of Kirr Marbach & Co. LLC IN's holdings, making the stock its 20th largest holding. Kirr Marbach & Co. LLC IN owned approximately 0.58% of Midera Food Processing at the end of the most recent reporting period.

Separately, State of Alaska Department of Revenue purchased a new stake in shares of Midera Food Processing during the 3rd quarter valued at $285,000.

Midera Food Processing Price Performance

NASDAQ:MFP opened at $41.84 on Wednesday. Midera Food Processing has a 52-week low of $33.00 and a 52-week high of $52.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.84 and a quick ratio of 1.15. The company's fifty day simple moving average is $43.59.

Insider Buying and Selling

In related news, Director Robert Nerbonne acquired 10,900 shares of the company's stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $45.05 per share, with a total value of $491,045.00. Following the acquisition, the director owned 32,371 shares of the company's stock, valued at approximately $1,458,313.55. The trade was a 50.77% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MFP. William Blair initiated coverage on shares of Midera Food Processing in a report on Tuesday. They issued an "outperform" rating on the stock. Zacks Research raised shares of Midera Food Processing to a "hold" rating in a report on Thursday, July 16th. Oppenheimer initiated coverage on Midera Food Processing in a research note on Wednesday, July 15th. They issued an "outperform" rating and a $50.00 target price on the stock. Wall Street Zen raised Midera Food Processing to a "hold" rating in a report on Saturday, August 1st. Finally, Robert W. Baird initiated coverage on shares of Midera Food Processing in a research note on Wednesday, July 8th. They issued a "neutral" rating and a $40.00 target price for the company. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.00.

Midera Food Processing Profile

Midera Food Processing Inc provides food processing solutions. The Company specializes in the processing of raw material preparation and production and product packaging for retail and food service applications. Midera Food Processing Inc, formerly known as MINERA FOOD PRC, is based in Rosemont, Illinois.

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