Turtle Creek Asset Management Inc. Has $252.80 Million Holdings in The Middleby Co. (NASDAQ:MIDD)

Turtle Creek Asset Management Inc. raised its position in The Middleby Co. (NASDAQ:MIDD - Free Report) by 2.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,866,359 shares of the industrial products company's stock after acquiring an additional 53,276 shares during the period. Middleby comprises 6.6% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 2nd biggest position. Turtle Creek Asset Management Inc. owned about 3.47% of Middleby worth $252,798,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MIDD. UMB Bank n.a. increased its holdings in shares of Middleby by 41.1% during the 4th quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after acquiring an additional 116 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Middleby during the 4th quarter valued at $71,000. Principal Securities Inc. lifted its position in shares of Middleby by 16.0% during the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after buying an additional 78 shares during the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of Middleby by 220.6% during the 4th quarter. Coppell Advisory Solutions LLC now owns 606 shares of the industrial products company's stock worth $82,000 after buying an additional 417 shares during the last quarter. Finally, Crewe Advisors LLC lifted its position in shares of Middleby by 73.2% during the 4th quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock worth $96,000 after buying an additional 300 shares during the last quarter. Institutional investors own 98.55% of the company's stock.

Insiders Place Their Bets

In other news, Director Chapin Sarah Palisi sold 500 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares in the company, valued at $999,209.61. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward P. Garden acquired 203,058 shares of the stock in a transaction dated Friday, May 9th. The shares were bought at an average price of $139.13 per share, with a total value of $28,251,459.54. Following the completion of the transaction, the director now directly owns 2,838,924 shares of the company's stock, valued at $394,979,496.12. The trade was a 7.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 503,968 shares of company stock valued at $73,215,160 in the last 90 days. Corporate insiders own 6.18% of the company's stock.

Middleby Price Performance

MIDD traded down $7.10 on Wednesday, reaching $145.01. The stock had a trading volume of 1,031,088 shares, compared to its average volume of 715,136. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $182.73. The firm has a 50-day moving average of $141.18 and a 200-day moving average of $146.08. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 20.00 and a beta of 1.65.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $906.63 million during the quarter, compared to analysts' expectations of $941.46 million. During the same quarter in the prior year, the firm earned $1.89 EPS. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Middleby Co. will post 9.11 EPS for the current year.

Analyst Ratings Changes

MIDD has been the subject of several recent analyst reports. KeyCorp dropped their price objective on Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. upped their price objective on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research report on Wednesday, February 26th. Barclays upped their price objective on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Robert W. Baird dropped their price objective on Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Finally, StockNews.com downgraded Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Middleby currently has a consensus rating of "Hold" and an average target price of $168.14.

About Middleby

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.