Tdam USA Inc. Takes $917,000 Position in Middleby Corp (MIDD)

Tdam USA Inc. bought a new position in Middleby Corp (NASDAQ:MIDD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,090 shares of the industrial products company’s stock, valued at approximately $917,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EdgePoint Investment Group Inc. grew its position in shares of Middleby by 152.2% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,005,532 shares of the industrial products company’s stock worth $522,678,000 after acquiring an additional 3,020,865 shares in the last quarter. Fiera Capital Corp grew its position in shares of Middleby by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 2,848,263 shares of the industrial products company’s stock worth $297,415,000 after acquiring an additional 52,753 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Middleby by 29.1% in the 2nd quarter. Janus Henderson Group PLC now owns 2,683,129 shares of the industrial products company’s stock worth $280,172,000 after acquiring an additional 604,451 shares in the last quarter. Waddell & Reed Financial Inc. grew its position in shares of Middleby by 98.8% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 799,138 shares of the industrial products company’s stock worth $83,446,000 after acquiring an additional 397,157 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Middleby by 2.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 452,782 shares of the industrial products company’s stock worth $58,347,000 after acquiring an additional 10,868 shares in the last quarter.

Shares of NASDAQ MIDD opened at $112.45 on Tuesday. The company has a market capitalization of $6.46 billion, a P/E ratio of 18.25 and a beta of 1.83. Middleby Corp has a 12-month low of $98.06 and a 12-month high of $138.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.06 and a current ratio of 1.94.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.04). The company had revenue of $668.13 million during the quarter, compared to the consensus estimate of $645.88 million. Middleby had a return on equity of 22.52% and a net margin of 12.07%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. On average, research analysts forecast that Middleby Corp will post 6.11 earnings per share for the current year.

Several brokerages recently issued reports on MIDD. BidaskClub downgraded Middleby from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research raised Middleby from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine raised Middleby from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 8th. Robert W. Baird raised their price target on Middleby from $116.00 to $130.00 and gave the stock a “hold” rating in a report on Thursday, August 9th. Finally, Wellington Shields raised Middleby from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, August 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $135.57.

COPYRIGHT VIOLATION NOTICE: “Tdam USA Inc. Takes $917,000 Position in Middleby Corp (MIDD)” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/11/06/tdam-usa-inc-takes-917000-position-in-middleby-corp-midd.html.

Middleby Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Recommended Story: What is a Call Option?

Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Middleby Corp (NASDAQ:MIDD).

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply