Epoch Investment Partners Inc. Purchases 288,314 Shares of The Middleby Co. (NASDAQ:MIDD)

Epoch Investment Partners Inc. lifted its position in The Middleby Co. (NASDAQ:MIDD) by 421.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 356,714 shares of the industrial products company’s stock after acquiring an additional 288,314 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Middleby were worth $57,356,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Middleby during the 1st quarter valued at about $25,000. Allspring Global Investments Holdings LLC lifted its holdings in Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. Signaturefd LLC lifted its holdings in Middleby by 230.1% during the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company’s stock valued at $35,000 after buying an additional 168 shares in the last quarter. Crewe Advisors LLC lifted its holdings in Middleby by 620.0% during the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock valued at $58,000 after buying an additional 310 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Middleby during the 1st quarter valued at about $63,000. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

NASDAQ:MIDD traded up $0.10 during trading hours on Friday, hitting $131.71. 974,624 shares of the company were exchanged, compared to its average volume of 548,939. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 18.34 and a beta of 1.61. The Middleby Co. has a 52-week low of $109.59 and a 52-week high of $161.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.40 and a quick ratio of 1.28. The company’s 50 day moving average price is $125.96 and its 200-day moving average price is $139.15.

Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, May 8th. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.16). The company had revenue of $926.90 million for the quarter, compared to analysts’ expectations of $979.05 million. Middleby had a return on equity of 15.88% and a net margin of 9.82%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.19 EPS. As a group, research analysts forecast that The Middleby Co. will post 9.77 earnings per share for the current year.

Insider Activity

In other news, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total value of $252,640.00. Following the sale, the director now directly owns 10,931 shares of the company’s stock, valued at approximately $1,380,803.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Chapin Sarah Palisi sold 235 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total value of $32,237.30. Following the sale, the director now directly owns 7,211 shares of the company’s stock, valued at approximately $989,204.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John R. Miller III sold 2,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the sale, the director now directly owns 10,931 shares in the company, valued at $1,380,803.92. The disclosure for this sale can be found here. Insiders have sold 2,385 shares of company stock valued at $304,134 in the last ninety days. Insiders own 1.16% of the company’s stock.

Analyst Ratings Changes

MIDD has been the subject of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $159.00 price objective on shares of Middleby in a report on Thursday. KeyCorp reduced their price target on shares of Middleby from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Raymond James assumed coverage on shares of Middleby in a report on Friday, June 28th. They issued a “market perform” rating for the company. William Blair raised shares of Middleby to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. downgraded shares of Middleby from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $145.00 to $118.00 in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $154.57.

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.