Atria Investments Inc Has $1.44 Million Position in The Middleby Co. (NASDAQ:MIDD)

Atria Investments Inc increased its position in shares of The Middleby Co. (NASDAQ:MIDD) by 533.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,348 shares of the industrial products company’s stock after purchasing an additional 8,714 shares during the period. Atria Investments Inc’s holdings in Middleby were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in Middleby by 5.2% during the 3rd quarter. Assetmark Inc. now owns 1,868 shares of the industrial products company’s stock worth $260,000 after purchasing an additional 93 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Middleby by 4.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,278 shares of the industrial products company’s stock valued at $317,000 after acquiring an additional 88 shares in the last quarter. Olstein Capital Management L.P. raised its holdings in Middleby by 3.0% in the 3rd quarter. Olstein Capital Management L.P. now owns 68,500 shares of the industrial products company’s stock valued at $9,530,000 after acquiring an additional 2,000 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Middleby by 275.2% in the 3rd quarter. New York State Common Retirement Fund now owns 185,885 shares of the industrial products company’s stock valued at $25,862,000 after acquiring an additional 136,345 shares in the last quarter. Finally, Roubaix Capital LLC acquired a new position in Middleby in the 3rd quarter valued at $3,407,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on MIDD shares. Canaccord Genuity Group dropped their price objective on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. lifted their price objective on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One equities research 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, the company currently has an average rating of “Moderate Buy” and an average target price of $154.67.

Middleby Stock Up 0.2 %

Shares of NASDAQ:MIDD opened at $136.00 on Friday. The business’s 50 day simple moving average is $136.95 and its two-hundred day simple moving average is $133.45. The firm has a market cap of $7.32 billion, a P/E ratio of 18.76 and a beta of 1.58. 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 52-week low of $118.41 and a 52-week high of $161.01.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 EPS. As a group, research analysts forecast that The Middleby Co. will post 9.2 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.