Assetmark Inc. Acquires 93 Shares of The Middleby Co. (NASDAQ:MIDD)

Assetmark Inc. increased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,868 shares of the industrial products company’s stock after buying an additional 93 shares during the period. Assetmark Inc.’s holdings in Middleby were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Verdence Capital Advisors LLC raised its position in Middleby by 4.0% during the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock valued at $317,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in shares of Middleby by 4.8% in the 2nd quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock worth $248,000 after acquiring an additional 93 shares in the last quarter. Mendota Financial Group LLC grew its position in shares of Middleby by 10.0% during the 2nd quarter. Mendota Financial Group LLC now owns 1,150 shares of the industrial products company’s stock worth $141,000 after buying an additional 105 shares during the period. GAMMA Investing LLC raised its holdings in shares of Middleby by 97.7% during the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Finally, Quarry LP grew its stake in Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MIDD. 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 decreased their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of 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, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $154.67.

Middleby Trading Up 0.2 %

MIDD opened at $136.00 on Friday. The firm has a market cap of $7.32 billion, a P/E ratio of 18.76 and a beta of 1.58. 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 50-day moving average of $136.95 and a 200 day moving average of $133.41. The Middleby Co. has a 12 month low of $118.41 and a 12 month high of $161.01.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period last year, the firm earned $2.35 earnings per share. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, research analysts forecast that The Middleby Co. will post 9.2 EPS for the current 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.