Orion Portfolio Solutions LLC Takes $204,000 Position in The Middleby Co. (NASDAQ:MIDD)

Orion Portfolio Solutions LLC purchased a new position in shares of The Middleby Co. (NASDAQ:MIDD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,505 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other institutional investors also recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock worth $615,000 after buying an additional 2,425 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Middleby in the fourth quarter worth approximately $469,000. First Citizens Bank & Trust Co. bought a new stake in Middleby in the fourth quarter valued at approximately $219,000. GHP Investment Advisors Inc. raised its holdings in Middleby by 13.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock worth $3,106,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its holdings in Middleby by 3.6% during the 4th quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock worth $9,617,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MIDD. Robert W. Baird increased their price objective on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. KeyCorp lowered their price objective on Middleby from $185.00 to $175.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group restated a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research report on Thursday, December 12th. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Middleby from $145.00 to $150.00 and gave the stock an “underweight” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $179.43.

Insider Activity

In related news, Director Chapin Sarah Palisi sold 500 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $163.51, for a total value of $81,755.00. Following the transaction, the director now owns 6,111 shares of the company’s stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.16% of the company’s stock.

Middleby Stock Down 8.3 %

Shares of NASDAQ:MIDD opened at $131.59 on Friday. The firm has a market cap of $7.06 billion, a P/E ratio of 18.15 and a beta of 1.44. The Middleby Co. has a 52-week low of $118.41 and a 52-week high of $182.73. The business’s 50 day simple moving average is $156.55 and its two-hundred day simple moving average is $146.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last issued its earnings results on Tuesday, February 25th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.38. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $996.69 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. Middleby’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the business earned $2.65 EPS. As a group, research analysts forecast that The Middleby Co. will post 9.11 EPS for the current fiscal year.

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.