Atom Investors LP Takes Position in The Middleby Co. (NASDAQ:MIDD)

Atom Investors LP purchased a new position in The Middleby Co. (NASDAQ:MIDD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,959 shares of the industrial products company's stock, valued at approximately $1,664,000.

A number of other institutional investors have also made changes to their positions in the stock. Quarry LP grew 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 period. GAMMA Investing LLC raised its holdings in Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company's stock worth $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd boosted 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 purchasing an additional 190 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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 buying an additional 136 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Middleby in the 2nd quarter valued at $45,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Middleby Stock Down 0.9 %

Shares of NASDAQ MIDD traded down $1.33 during midday trading on Tuesday, reaching $142.06. The company's stock had a trading volume of 364,353 shares, compared to its average volume of 558,109. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 19.59 and a beta of 1.60. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $161.01. The stock has a 50 day simple moving average of $138.04 and a 200-day simple moving average of $133.61. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66.

Middleby (NASDAQ:MIDD - Get Free Report) last posted 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). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business had revenue of $942.81 million for the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the prior year, the company earned $2.35 earnings per share. The company's quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts predict that The Middleby Co. will post 9.12 earnings per share for the current year.

Analysts Set New Price Targets

MIDD has been the subject of a number of research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $164.00 target price on shares of Middleby in a research note on Saturday, September 14th. Canaccord Genuity Group decreased their price objective on Middleby from $164.00 to $155.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $154.67.

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.