Lummis Asset Management LP Has $1.19 Million Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

Lummis Asset Management LP reduced its position in The Middleby Co. (NASDAQ:MIDD) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,784 shares of the industrial products company’s stock after selling 195 shares during the period. Middleby comprises 1.5% of Lummis Asset Management LP’s holdings, making the stock its 21st largest position. Lummis Asset Management LP’s holdings in Middleby were worth $1,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. Assenagon Asset Management S.A. lifted its holdings in Middleby by 4,494.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,266,327 shares of the industrial products company’s stock valued at $171,524,000 after purchasing an additional 1,238,767 shares during the last quarter. Everence Capital Management Inc. bought a new stake in shares of Middleby during the 4th quarter worth about $200,000. GAMMA Investing LLC grew its stake in Middleby by 27.2% in the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company’s stock valued at $84,000 after buying an additional 133 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Middleby in the 3rd quarter valued at about $891,000. Finally, Virtu Financial LLC acquired a new stake in Middleby during the third quarter worth approximately $639,000. Institutional investors own 98.55% of the company’s stock.

Middleby Price Performance

Shares of NASDAQ MIDD opened at $142.03 on Friday. The business has a fifty day moving average price of $138.40 and a two-hundred day moving average price of $136.24. The stock has a market capitalization of $7.64 billion, a PE ratio of 19.59 and a beta of 1.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $161.01.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share 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 firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same period in the prior year, the company earned $2.35 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts predict that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. Canaccord Genuity Group reiterated a “buy” rating and set a $155.00 price objective on shares of Middleby in a research report on Friday, December 20th. Finally, StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Middleby presently 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.