The Middleby Co. (NASDAQ:MIDD) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. boosted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,535 shares of the industrial products company’s stock after purchasing an additional 70 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Middleby were worth $3,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Middleby by 121.4% during the fourth 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 purchased a new stake in shares of Middleby in the fourth quarter valued at about $469,000. GHP Investment Advisors Inc. lifted its holdings in shares of Middleby by 13.7% in the fourth quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company’s stock valued at $3,106,000 after purchasing an additional 2,763 shares in the last quarter. Olstein Capital Management L.P. lifted its holdings in shares of Middleby by 3.6% in the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company’s stock valued at $9,617,000 after purchasing an additional 2,500 shares in the last quarter. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Middleby in the fourth quarter valued at about $219,000. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Performance

Shares of MIDD opened at $171.62 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 23.67 and a beta of 1.64. The Middleby Co. has a 1 year low of $118.41 and a 1 year high of $177.90. The company’s 50 day simple moving average is $148.79 and its 200 day simple moving average is $141.89.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MIDD shares. JPMorgan Chase & Co. upped their price target on shares of Middleby from $134.00 to $145.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Robert W. Baird upped their price target on shares of Middleby from $157.00 to $227.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Canaccord Genuity Group upped their price target on shares of Middleby from $155.00 to $192.00 and gave the company a “buy” rating in a report on Monday, January 27th. KeyCorp upped their price objective on shares of Middleby from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Finally, StockNews.com downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.