Boring businesses rarely come up with big bang for a shareholder's buck. But oven manufacturer Middleby (NASDAQ:MIDD) certainly delivered today, with a great earnings report that sent the stock soaring by 11%. Now that the stock is up near $123 per share, people are asking whether it's time to cash out. Some may even suggest that at this price, it's time for a stock split. Motley Fool Hidden Gems analyst Tom Gardner happens to have emphatic thoughts on these issues.

Even though these results catalyzed a dramatic affect on the market today, Middleby has been a winner for much longer around here. Tom recommended the stock in 2003 when it was below $19 -- a six-bagger to date. In his initial recommendation, Tom highlighted the turnaround in the business and emphasized that its CEO, Selim Bassoul, is one of his all-time favorite business leaders.

Is it time to sell? Tom points at the trends. Middleby's business is poised for even more growth in the future. People are spending more than 50% of their food budget on eating out, which further expands the market for commercial ovens. This growth rate around the world is accelerating as the standard of living improves across the globe. Middleby's growth trajectory should continue to remain strong, especially since competitors such as TurboChef (NASDAQ:OVEN) are struggling to keep up.

Should the company split its stock? When asked about this, Tom voiced his thoughts that a split is unnecessary. He stated, "It costs money to do the filings and adds no extra shareholder value. It's a non-event that costs money and does not represent a good use of shareholder money. Be like Berkshire Hathaway (NYSE:BRK-A) or Google (NASDAQ:GOOG) -- let your stock rise."

A stock split is only an event in the minds of shareholders. In fact, the value of the stock is still exactly the same. There are simply more pieces of the pie, but the size of the pie remains the same. So what's the use of spending that kind of money on paperwork and legal fees when you can let it work for shareholders instead?

So far, Middleby has done great work for its shareholders -- sending the Hidden Gems subscribers who bought the stock in 2003 home with soaring gains. Tom and his team singled it out when it was very sparsely followed by analysts, but insiders owned 50% of the shares at that time and still own a high percentage. Tom recognized the company as a great turnaround opportunity, and it has rewarded subscribers richly; he believes it will continue to do so.

If you're in the market for other superstar small-cap stocks, you can see what Tom and the other members of the Hidden Gems team are cooking up. A free 30-day trial to the newsletter and its services is completely free.

Fool sector head Shruti Basavaraj owns no shares of any company mentioned above but wishes she had bought Middleby when Tom recommended it, or even when he re-recommended it. Instead, she's sitting on the sidelines playing "what-if." But at least The Motley Fool's disclosure policy is right there to keep her company.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.