M&T Bank Corp Increases Holdings in The Middleby Co. (NASDAQ:MIDD)

M&T Bank Corp increased its position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 133.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,618 shares of the industrial products company's stock after acquiring an additional 3,783 shares during the period. M&T Bank Corp's holdings in Middleby were worth $920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Verdence Capital Advisors LLC grew its stake in shares of Middleby by 4.0% in the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company's stock worth $317,000 after purchasing an additional 88 shares during the last quarter. Townsquare Capital LLC raised its stake in Middleby by 1.4% during the third quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company's stock worth $871,000 after buying an additional 89 shares during the last quarter. Blue Trust Inc. lifted its holdings in Middleby by 4.8% in the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company's stock valued at $248,000 after buying an additional 93 shares during the period. Assetmark Inc. grew its holdings in Middleby by 5.2% during the 3rd quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company's stock worth $260,000 after acquiring an additional 93 shares during the period. Finally, Quarry LP lifted its stake in shares of Middleby by 133.3% in the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 132 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD stock traded down $1.02 on Tuesday, hitting $135.96. 453,183 shares of the stock were exchanged, compared to its average volume of 506,643. The Middleby Co. has a one year low of $118.41 and a one year high of $161.01. The firm's 50 day moving average is $138.85 and its two-hundred day moving average is $134.66. The firm has a market capitalization of $7.31 billion, a PE ratio of 18.75 and a beta of 1.60. 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 issued 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same quarter in the prior year, the business earned $2.35 EPS. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MIDD has been the subject of several research analyst reports. StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Canaccord Genuity Group restated a "buy" rating and issued a $164.00 target price on shares of Middleby in a report on Saturday, September 14th. Canaccord Genuity Group dropped their price target on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $160.00 target price (down from $170.00) on shares of Middleby in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price 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.