Welch & Forbes LLC decreased its holdings in Middleby Corp (NASDAQ:MIDD) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,279 shares of the industrial products company’s stock after selling 3,479 shares during the period. Welch & Forbes LLC owned 0.10% of Middleby worth $5,679,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of MIDD. Dubuque Bank & Trust Co. increased its stake in shares of Middleby by 161.3% in the fourth quarter. Dubuque Bank & Trust Co. now owns 499 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 308 shares in the last quarter. Moody National Bank Trust Division purchased a new position in shares of Middleby in the fourth quarter worth about $54,000. ETF Managers Group LLC increased its stake in shares of Middleby by 18.3% in the fourth quarter. ETF Managers Group LLC now owns 1,073 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 166 shares in the last quarter. Eukles Asset Management purchased a new position in shares of Middleby in the fourth quarter worth about $153,000. Finally, Zions Bancorporation purchased a new position in shares of Middleby in the third quarter worth about $159,000.
NASDAQ:MIDD traded up $2.86 during mid-day trading on Tuesday, hitting $123.10. 206,189 shares of the stock traded hands, compared to its average volume of 363,690. The company has a current ratio of 1.88, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. Middleby Corp has a 12-month low of $96.65 and a 12-month high of $137.16. The stock has a market cap of $6.88 billion, a P/E ratio of 19.98 and a beta of 1.90.
Several brokerages recently commented on MIDD. Zacks Investment Research cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. TheStreet raised shares of Middleby from a “c+” rating to a “b” rating in a research note on Friday, January 25th. BidaskClub raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Robert W. Baird raised shares of Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 price objective for the company in a research note on Tuesday, January 22nd. Finally, Seaport Global Securities raised shares of Middleby from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Middleby has a consensus rating of “Buy” and an average price target of $140.50.
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The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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