Tower Research Capital LLC TRC Sells 2,007 Shares of The Middleby Co. (NASDAQ:MIDD)

Tower Research Capital LLC TRC cut its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 45.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. raised its stake in Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock worth $54,000 after buying an additional 116 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Middleby in the 4th quarter worth approximately $71,000. Principal Securities Inc. boosted its position in shares of Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Middleby by 27.2% during the fourth quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock valued at $84,000 after purchasing an additional 133 shares in the last quarter. Finally, Crewe Advisors LLC raised its holdings in Middleby by 73.2% in the fourth quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock worth $96,000 after purchasing an additional 300 shares in the last quarter. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on MIDD shares. KeyCorp reduced their target price on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird lifted their target price on shares of Middleby from $157.00 to $227.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Canaccord Genuity Group lifted their price objective on Middleby from $192.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Barclays increased their target price on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Middleby from $145.00 to $150.00 and gave the company an "underweight" rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $179.43.

Insider Transactions at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the business'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 sale, the director now directly owns 6,111 shares in the company, valued at $999,209.61. The trade was a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.18% of the company's stock.

Middleby Stock Performance

NASDAQ:MIDD traded up $4.21 during mid-day trading on Friday, reaching $138.57. The company's stock had a trading volume of 1,057,006 shares, compared to its average volume of 693,210. 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 stock has a market cap of $7.43 billion, a P/E ratio of 19.11 and a beta of 1.44. The firm's fifty day moving average price is $144.64 and its two-hundred day moving average price is $145.51. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $182.73.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $996.69 million. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The firm's revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts forecast that The Middleby Co. will post 9.11 EPS for the current fiscal year.

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.