MQS Management LLC Purchases New Position in The Middleby Corporation $MIDD

MQS Management LLC purchased a new stake in The Middleby Corporation (NASDAQ:MIDD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,968 shares of the industrial products company’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of Middleby in the 1st quarter valued at about $819,000. Integrity Alliance LLC. purchased a new position in shares of Middleby in the 1st quarter valued at about $365,000. United Services Automobile Association purchased a new position in shares of Middleby in the 1st quarter valued at about $544,000. GAMMA Investing LLC increased its stake in shares of Middleby by 13.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,018 shares of the industrial products company’s stock valued at $147,000 after purchasing an additional 117 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of Middleby by 9.8% in the 2nd quarter. New York State Teachers Retirement System now owns 57,997 shares of the industrial products company’s stock valued at $8,352,000 after purchasing an additional 5,179 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MIDD shares. Canaccord Genuity Group boosted their price objective on Middleby from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Middleby in a research note on Saturday. Barclays reiterated an “overweight” rating and set a $180.00 price objective (up from $165.00) on shares of Middleby in a research note on Monday, October 20th. Wolfe Research set a $163.00 price objective on Middleby and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Finally, Zacks Research upgraded Middleby to a “strong sell” rating in a research note on Monday, August 11th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $165.00.

Middleby Trading Down 0.4%

Shares of Middleby stock opened at $132.63 on Friday. The stock has a market cap of $6.72 billion, a P/E ratio of 16.87 and a beta of 1.52. The stock’s 50 day simple moving average is $135.20 and its 200-day simple moving average is $139.21. The Middleby Corporation has a 1-year low of $118.09 and a 1-year high of $182.73. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.15. The business had revenue of $977.86 million for the quarter, compared to analysts’ expectations of $979.59 million. Middleby had a return on equity of 14.14% and a net margin of 11.06%.The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.39 EPS. Analysts predict that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Middleby Company Profile

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.