Sanctuary Advisors LLC Makes New $891,000 Investment in The Middleby Co. (NASDAQ:MIDD)

Sanctuary Advisors LLC purchased a new stake in The Middleby Co. (NASDAQ:MIDD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,268 shares of the industrial products company's stock, valued at approximately $891,000.

Several other institutional investors have also recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. bought a new stake in Middleby during the 2nd quarter valued at $500,000. Westwood Holdings Group Inc. increased its position in shares of Middleby by 11.7% during the second quarter. Westwood Holdings Group Inc. now owns 96,482 shares of the industrial products company's stock worth $11,830,000 after acquiring an additional 10,115 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Middleby by 4,691.4% in the 2nd quarter. GHP Investment Advisors Inc. now owns 16,099 shares of the industrial products company's stock worth $1,974,000 after acquiring an additional 15,763 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in Middleby by 35.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 482,389 shares of the industrial products company's stock valued at $59,146,000 after acquiring an additional 125,675 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Middleby by 27.4% during the 2nd quarter. Sei Investments Co. now owns 76,345 shares of the industrial products company's stock valued at $9,361,000 after purchasing an additional 16,432 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Price Performance

Shares of MIDD stock traded up $0.23 during trading hours on Monday, hitting $134.95. 460,201 shares of the company's stock were exchanged, compared to its average volume of 514,541. The Middleby Co. has a 12-month low of $118.41 and a 12-month high of $161.01. The company has a market capitalization of $7.26 billion, a PE ratio of 18.61 and a beta of 1.60. The business's 50 day simple moving average is $138.88 and its 200-day simple moving average is $134.79. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the previous year, the business earned $2.35 earnings per share. Middleby's revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Middleby Co. will post 9.13 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on MIDD shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. Canaccord Genuity Group reissued a "buy" rating and set a $155.00 price target on shares of Middleby in a research report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 price objective (down from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Finally, StockNews.com raised Middleby from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $154.67.

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.