Impax Asset Management Group plc Has $23.07 Million Stake in The Middleby Co. (NASDAQ:MIDD)

Impax Asset Management Group plc lowered its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,289 shares of the industrial products company’s stock after selling 4,060 shares during the quarter. Impax Asset Management Group plc owned 0.32% of Middleby worth $23,066,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MIDD. Lorne Steinberg Wealth Management Inc. boosted its stake in Middleby by 0.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock worth $3,323,000 after purchasing an additional 70 shares during the period. Principal Securities Inc. boosted its position in shares of Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company’s stock worth $77,000 after buying an additional 78 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Middleby by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock worth $224,000 after buying an additional 81 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Middleby by 4.0% during the third quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock worth $317,000 after buying an additional 88 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in Middleby by 1.4% in the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company’s stock valued at $871,000 after acquiring an additional 89 shares in the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD opened at $168.15 on Tuesday. The company has a market cap of $9.05 billion, a PE ratio of 23.19 and a beta of 1.64. The firm has a 50-day moving average of $151.06 and a 200-day moving average of $142.76. 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.

Analyst Upgrades and Downgrades

MIDD has been the subject of several research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. Robert W. Baird increased their target price on shares of Middleby from $157.00 to $227.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. StockNews.com lowered shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Canaccord Genuity Group increased their price objective on shares of Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, KeyCorp lifted their target price on Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.83.

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.