Impax Asset Management Group plc Decreases Position in The Middleby Corporation $MIDD

Impax Asset Management Group plc lessened its position in The Middleby Corporation (NASDAQ:MIDD) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 141,429 shares of the industrial products company’s stock after selling 9,558 shares during the period. Impax Asset Management Group plc owned about 0.28% of Middleby worth $18,800,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MIDD. Oppenheimer Asset Management Inc. lifted its position in Middleby by 9.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 19,704 shares of the industrial products company’s stock valued at $2,619,000 after acquiring an additional 1,629 shares in the last quarter. Carlson Capital L.P. bought a new stake in shares of Middleby in the 3rd quarter worth $346,000. Hantz Financial Services Inc. raised its stake in shares of Middleby by 2.9% in the third quarter. Hantz Financial Services Inc. now owns 10,487 shares of the industrial products company’s stock worth $1,394,000 after purchasing an additional 294 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Middleby by 29.2% in the third quarter. Thrivent Financial for Lutherans now owns 21,203 shares of the industrial products company’s stock worth $2,819,000 after purchasing an additional 4,793 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Middleby during the third quarter valued at $46,000. Institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MIDD shares. JPMorgan Chase & Co. lifted their price objective on Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Barclays set a $168.00 price target on shares of Middleby and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Zacks Research downgraded shares of Middleby from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Middleby in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Middleby has a consensus rating of “Moderate Buy” and an average target price of $163.83.

Insider Transactions at Middleby

In related news, Director Robert A. Nerbonne purchased 780 shares of Middleby stock in a transaction on Tuesday, December 9th. The stock was acquired at an average price of $128.52 per share, for a total transaction of $100,245.60. Following the completion of the transaction, the director directly owned 21,471 shares in the company, valued at $2,759,452.92. This represents a 3.77% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.18% of the company’s stock.

Middleby Stock Performance

Shares of NASDAQ MIDD opened at $162.17 on Wednesday. The Middleby Corporation has a 12-month low of $110.82 and a 12-month high of $182.73. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of -36.86 and a beta of 1.40. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $148.54 and a 200 day moving average of $137.04.

About Middleby

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid‐cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.