Oldfield Partners LLP Acquires 4,837 Shares of The Middleby Co. (NASDAQ:MIDD)

Oldfield Partners LLP boosted its position in The Middleby Co. (NASDAQ:MIDDFree Report) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 332,473 shares of the industrial products company’s stock after purchasing an additional 4,837 shares during the quarter. Middleby comprises approximately 9.8% of Oldfield Partners LLP’s portfolio, making the stock its 5th largest holding. Oldfield Partners LLP’s holdings in Middleby were worth $46,257,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MIDD. Allspring Global Investments Holdings LLC boosted its stake in shares of Middleby by 1,246.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 162 shares during the period. Quarry LP lifted its position in shares of 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. GAMMA Investing LLC lifted its position in shares of Middleby by 97.7% during the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock worth $31,000 after buying an additional 126 shares during the last quarter. UMB Bank n.a. raised its position in Middleby by 93.2% in the third 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, Strategic Financial Concepts LLC bought a new position in Middleby in the second quarter valued at about $45,000. 98.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MIDD shares. JPMorgan Chase & Co. increased their price target on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. KeyCorp dropped their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Canaccord Genuity Group reiterated a “buy” rating and set a $164.00 price target on shares of Middleby in a report on Friday, September 13th. Finally, Raymond James started coverage on Middleby in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Middleby has a consensus rating of “Moderate Buy” and a consensus target price of $156.17.

Read Our Latest Report on MIDD

Middleby Stock Performance

Middleby stock opened at $137.64 on Tuesday. The company has a market capitalization of $7.40 billion, a PE ratio of 19.17 and a beta of 1.58. The company has a 50 day moving average price of $137.39 and a 200-day moving average price of $134.39. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.43 and a current ratio of 2.50. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01.

Middleby (NASDAQ:MIDDGet Free Report) last released its quarterly earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Middleby had a net margin of 9.90% and a return on equity of 15.25%. The firm had revenue of $991.55 million during the quarter, compared to the consensus estimate of $994.05 million. During the same quarter in the prior year, the firm earned $2.47 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts forecast that The Middleby Co. will post 9.63 earnings per share for the current year.

Middleby Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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