Impax Asset Management Group plc Sells 4,060 Shares of The Middleby Co. (NASDAQ:MIDD)

Impax Asset Management Group plc reduced its stake in The Middleby Co. (NASDAQ:MIDD) by 2.3% during the 4th quarter, Holdings Channel reports. The fund owned 170,289 shares of the industrial products company’s stock after selling 4,060 shares during the period. Impax Asset Management Group plc’s holdings in Middleby were worth $23,066,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. ST. Nicholas Private Asset Management Inc. bought a new position in Middleby during the 4th quarter worth $1,131,000. Ieq Capital LLC acquired a new position in shares of Middleby in the fourth quarter valued at about $258,000. Lorne Steinberg Wealth Management Inc. increased its position in Middleby by 0.3% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company’s stock worth $3,323,000 after acquiring an additional 70 shares during the period. Cardinal Capital Management raised its stake in Middleby by 8.5% in the 4th quarter. Cardinal Capital Management now owns 9,364 shares of the industrial products company’s stock worth $1,268,000 after purchasing an additional 732 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Middleby by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company’s stock valued at $224,000 after purchasing an additional 81 shares during the period. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MIDD has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Middleby from $134.00 to $145.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Canaccord Genuity Group raised their price objective on Middleby from $155.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. StockNews.com downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. KeyCorp raised their price target on Middleby from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, Robert W. Baird upped 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Middleby presently has a consensus rating of “Hold” and a consensus target price of $178.83.

Middleby Price Performance

Middleby stock opened at $168.15 on Tuesday. The stock has a fifty day moving average of $151.06 and a 200-day moving average of $142.76. The stock has a market capitalization of $9.05 billion, a P/E ratio of 23.19 and a beta of 1.64. 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 Middleby Co. has a 52 week low of $118.41 and a 52 week high of $177.90.

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.