First Mercantile Trust Co. purchased a new position in shares of Middleby Corp (NASDAQ:MIDD) during the 1st quarter, Holdings Channel reports. The fund purchased 3,084 shares of the industrial products company’s stock, valued at approximately $401,000.

Several other large investors also recently bought and sold shares of MIDD. Enlightenment Research LLC acquired a new position in shares of Middleby during the 4th quarter worth approximately $41,000. Dubuque Bank & Trust Co. increased its position in shares of Middleby by 161.3% during the 4th 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 during the last quarter. Quadrant Capital Group LLC increased its position in shares of Middleby by 1,724.0% during the 1st quarter. Quadrant Capital Group LLC now owns 456 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 431 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Middleby by 22.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock worth $79,000 after purchasing an additional 114 shares during the last quarter. Finally, Ellis Investment Partners LLC acquired a new position in shares of Middleby during the 1st quarter worth approximately $82,000.

Shares of NASDAQ MIDD opened at $136.75 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.98 and a debt-to-equity ratio of 1.09. Middleby Corp has a 12 month low of $96.65 and a 12 month high of $139.24. The company has a market cap of $7.69 billion, a PE ratio of 22.42 and a beta of 1.79.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, May 8th. The industrial products company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.01. Middleby had a return on equity of 21.91% and a net margin of 11.35%. The company had revenue of $686.80 million during the quarter, compared to the consensus estimate of $683.01 million. During the same period in the previous year, the company posted $1.20 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts expect that Middleby Corp will post 6.92 EPS for the current year.

In other news, Director Chapin Sarah Palisi sold 300 shares of Middleby stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $124.18, for a total transaction of $37,254.00. Following the completion of the transaction, the director now directly owns 5,100 shares in the company, valued at approximately $633,318. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Miller III sold 2,000 shares of Middleby stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $126.37, for a total value of $252,740.00. Following the transaction, the director now owns 16,000 shares of the company’s stock, valued at $2,021,920. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Several research analysts have weighed in on the company. ValuEngine raised Middleby from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered Middleby from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub lowered Middleby from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th. Jefferies Financial Group assumed coverage on Middleby in a research report on Wednesday, April 3rd. They set a “hold” rating and a $135.00 price target on the stock. Finally, CL King raised Middleby from a “buy” rating to a “strong-buy” rating and set a $160.00 price target on the stock in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Middleby presently has a consensus rating of “Buy” and a consensus target price of $147.43.

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Middleby Company Profile

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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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