Fruth Investment Management Sells 90 Shares of The Middleby Co. (NASDAQ:MIDD)

Fruth Investment Management lessened its holdings in The Middleby Co. (NASDAQ:MIDD) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,345 shares of the industrial products company’s stock after selling 90 shares during the quarter. Fruth Investment Management’s holdings in Middleby were worth $2,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Covestor Ltd grew its holdings in Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares during the period. UMB Bank n.a. grew its stake in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 136 shares during the period. Avior Wealth Management LLC increased its holdings in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 287 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Middleby by 91.8% in the 3rd quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 234 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Middleby in the third quarter worth $72,000. 98.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MIDD. JPMorgan Chase & Co. lifted their price objective on Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a report on Monday. StockNews.com cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Canaccord Genuity Group raised their price objective on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Robert W. Baird upped their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $160.00 price target (down previously from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Middleby currently has an average rating of “Hold” and an average price target of $178.83.

Middleby Trading Down 1.8 %

Middleby stock opened at $166.54 on Thursday. The firm has a 50-day moving average of $144.41 and a 200-day moving average of $139.73. The Middleby Co. has a one year low of $118.41 and a one year high of $177.90. 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 company has a market cap of $8.96 billion, a price-to-earnings ratio of 22.97 and a beta of 1.63.

About Middleby

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.