8,233 Shares in The Middleby Co. (NASDAQ:MIDD) Purchased by Quantbot Technologies LP

Quantbot Technologies LP bought a new stake in The Middleby Co. (NASDAQ:MIDD) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,233 shares of the industrial products company’s stock, valued at approximately $1,145,000.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Middleby by 11,853.1% in the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock valued at $118,609,000 after acquiring an additional 959,272 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after purchasing an additional 846,884 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Middleby by 43.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company’s stock worth $110,768,000 after purchasing an additional 274,513 shares during the last quarter. Ariel Investments LLC raised its holdings in Middleby by 58.0% in the 2nd quarter. Ariel Investments LLC now owns 510,127 shares of the industrial products company’s stock valued at $62,547,000 after buying an additional 187,304 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Middleby by 30.6% in the second quarter. Principal Financial Group Inc. now owns 713,618 shares of the industrial products company’s stock valued at $87,497,000 after buying an additional 167,298 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MIDD. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group decreased their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Middleby has an average rating of “Moderate Buy” and a consensus target price of $154.67.

Middleby Stock Performance

Shares of MIDD opened at $143.39 on Friday. The stock has a 50-day simple moving average of $138.04 and a 200-day simple moving average of $133.58. 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 1 year low of $118.41 and a 1 year high of $161.01. The stock has a market capitalization of $7.71 billion, a PE ratio of 19.78 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.35 earnings per share. On average, analysts predict that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

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.