Amalgamated Bank Sells 8,035 Shares of The Middleby Co. (NASDAQ:MIDD)

Amalgamated Bank lessened its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,615 shares of the industrial products company's stock after selling 8,035 shares during the period. Amalgamated Bank's holdings in Middleby were worth $3,564,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MIDD. Epoch Investment Partners Inc. lifted its position in Middleby by 421.5% during the first quarter. Epoch Investment Partners Inc. now owns 356,714 shares of the industrial products company's stock worth $57,356,000 after purchasing an additional 288,314 shares during the period. Tidal Investments LLC boosted its position in shares of Middleby by 278.9% during the 1st quarter. Tidal Investments LLC now owns 9,060 shares of the industrial products company's stock worth $1,457,000 after acquiring an additional 6,669 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Middleby by 18.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 56,484 shares of the industrial products company's stock valued at $8,281,000 after acquiring an additional 8,768 shares during the last quarter. Vanguard Group Inc. raised its position in Middleby by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company's stock valued at $822,165,000 after purchasing an additional 15,798 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in Middleby during the second quarter worth $500,000. 98.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and set a $164.00 price target on shares of Middleby in a report on Saturday, September 14th. KeyCorp reduced their price target on shares of Middleby from $175.00 to $160.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Canaccord Genuity Group dropped their price objective on shares of Middleby from $164.00 to $155.00 and set a "buy" rating for the company in a research note on Friday, November 1st. StockNews.com raised shares of Middleby from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Robert W. Baird upped their price target on shares of Middleby from $155.00 to $169.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $154.67.

Middleby Trading Down 0.7 %

Shares of MIDD stock traded down $0.93 during trading hours on Friday, hitting $140.31. 402,055 shares of the company's stock traded hands, compared to its average volume of 673,793. 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 Middleby Co. has a 12 month low of $115.41 and a 12 month high of $161.01. The stock has a market cap of $7.54 billion, a PE ratio of 19.35 and a beta of 1.58. The stock's 50 day simple moving average is $136.85 and its 200 day simple moving average is $133.49.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.35 earnings per share. On average, sell-side analysts anticipate that The Middleby Co. will post 9.2 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.