Tower Research Capital LLC TRC Reduces Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

Tower Research Capital LLC TRC trimmed its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 45.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,403 shares of the industrial products company's stock after selling 2,007 shares during the quarter. Tower Research Capital LLC TRC's holdings in Middleby were worth $325,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. MetLife Investment Management LLC boosted its holdings in shares of Middleby by 9.1% in the 4th quarter. MetLife Investment Management LLC now owns 30,313 shares of the industrial products company's stock valued at $4,106,000 after buying an additional 2,531 shares in the last quarter. Natixis boosted its stake in Middleby by 93.5% in the fourth quarter. Natixis now owns 10,593 shares of the industrial products company's stock valued at $1,435,000 after acquiring an additional 5,118 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Middleby by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,247,671 shares of the industrial products company's stock worth $169,000,000 after purchasing an additional 150,709 shares during the last quarter. Forum Financial Management LP acquired a new position in shares of Middleby during the fourth quarter worth $348,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Middleby during the fourth quarter worth $420,000. Institutional investors own 98.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MIDD. Barclays upped their target price on Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. KeyCorp decreased their price objective on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Robert W. Baird boosted their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a report on Wednesday, February 26th. Finally, StockNews.com cut Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $179.43.

Insider Activity at Middleby

In other news, Director Chapin Sarah Palisi sold 500 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now directly owns 6,111 shares of the company's stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.18% of the stock is owned by corporate insiders.

Middleby Price Performance

Shares of MIDD stock traded up $0.31 during trading hours on Wednesday, hitting $135.69. 120,420 shares of the company's stock were exchanged, compared to its average volume of 692,579. 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 market cap of $7.28 billion, a P/E ratio of 18.74 and a beta of 1.65. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $143.51 and a two-hundred day moving average of $145.42.

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

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.