Stevens Capital Management LP boosted its position in Middleby Corp (NASDAQ:MIDD) by 154.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 29,424 shares of the industrial products company’s stock after purchasing an additional 17,845 shares during the period. Stevens Capital Management LP owned about 0.05% of Middleby worth $3,993,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of MIDD. Icon Wealth Partners LLC bought a new position in Middleby in the 1st quarter valued at about $33,000. Quadrant Capital Group LLC raised its holdings in Middleby by 1,724.0% in the 1st quarter. Quadrant Capital Group LLC now owns 456 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 431 shares during the period. Steward Partners Investment Advisory LLC bought a new position in Middleby in the 2nd quarter valued at about $66,000. Parkside Financial Bank & Trust raised its holdings in Middleby by 22.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 611 shares of the industrial products company’s stock valued at $79,000 after acquiring an additional 114 shares during the period. Finally, Ellis Investment Partners LLC bought a new position in Middleby in the 1st quarter valued at about $82,000. Institutional investors and hedge funds own 99.83% of the company’s stock.
Several research analysts have weighed in on the stock. BidaskClub cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Monday, May 13th. ValuEngine cut shares of Middleby from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Buckingham Research set a $153.00 price target on shares of Middleby and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup lowered their target price on shares of Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Middleby has a consensus rating of “Buy” and a consensus target price of $145.57.
Shares of MIDD traded down $1.56 during mid-day trading on Wednesday, hitting $110.36. 188,281 shares of the company’s stock were exchanged, compared to its average volume of 453,031. Middleby Corp has a 52 week low of $96.65 and a 52 week high of $142.98. The stock has a 50-day moving average of $132.35. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 18.09 and a beta of 1.60. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 1.98.
Middleby (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a return on equity of 21.63% and a net margin of 11.27%. The business had revenue of $761.00 million for the quarter, compared to the consensus estimate of $774.13 million. During the same period in the prior year, the business posted $1.63 earnings per share. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts forecast that Middleby Corp will post 6.71 earnings per share for the current year.
In other Middleby news, Director Robert A. Nerbonne bought 450 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $113.85 per share, with a total value of $51,232.50. Following the completion of the acquisition, the director now owns 1,282 shares of the company’s stock, valued at $145,955.70. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.98% of the stock is currently owned by company insiders.
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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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