Quantbot Technologies LP Purchases New Position in The Middleby Co. (NASDAQ:MIDD)

Quantbot Technologies LP acquired a new position in shares of The Middleby Co. (NASDAQ:MIDD) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,233 shares of the industrial products company’s stock, valued at approximately $1,145,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP grew its stake in Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock worth $28,000 after buying an additional 132 shares during the last quarter. Covestor Ltd grew its position in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 190 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Middleby by 97.7% in the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 126 shares during the period. UMB Bank n.a. raised its position in Middleby by 93.2% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Middleby by 820.0% during the 3rd quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MIDD. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group lowered their target price 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 restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Middleby has a consensus rating of “Moderate Buy” and an average target price of $154.67.

Middleby Price Performance

Middleby stock opened at $143.39 on Friday. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $138.04 and its 200 day simple moving average is $133.58. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The firm 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 earnings results 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 company had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.35 EPS. On average, equities research analysts predict that The Middleby Co. will post 9.12 EPS 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.