Brandywine Global Investment Management LLC Has $3.56 Million Stake in The Middleby Co. (NASDAQ:MIDD)

Brandywine Global Investment Management LLC decreased its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,293 shares of the industrial products company's stock after selling 2,080 shares during the period. Brandywine Global Investment Management LLC's holdings in Middleby were worth $3,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Middleby by 41.1% in the fourth quarter. UMB Bank n.a. now owns 398 shares of the industrial products company's stock valued at $54,000 after buying an additional 116 shares during the last quarter. Principal Securities Inc. raised its holdings in Middleby by 16.0% during the fourth quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock worth $77,000 after purchasing an additional 78 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Middleby by 27.2% during the 4th quarter. GAMMA Investing LLC now owns 622 shares of the industrial products company's stock worth $84,000 after buying an additional 133 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Middleby in the third quarter valued at about $88,000. Finally, Crewe Advisors LLC lifted its stake in Middleby by 73.2% in the 4th quarter. Crewe Advisors LLC now owns 710 shares of the industrial products company's stock valued at $96,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company's stock.

Middleby Stock Performance

NASDAQ:MIDD traded down $6.19 during midday trading on Monday, reaching $129.27. 1,971,427 shares of the company traded hands, compared to its average volume of 632,016. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $182.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The company has a fifty day moving average price of $160.28 and a 200 day moving average price of $146.49. The firm has a market capitalization of $6.93 billion, a price-to-earnings ratio of 17.83 and a beta of 1.44.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The industrial products company reported $2.88 EPS for the quarter, beating the consensus estimate of $2.50 by $0.38. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.69 million. During the same quarter last year, the business earned $2.65 earnings per share. Middleby's revenue was up .4% compared to the same quarter last year. On average, analysts expect that The Middleby Co. will post 9.11 EPS for the current fiscal year.

Insider Activity at Middleby

In other Middleby news, Director Chapin Sarah Palisi sold 500 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total transaction of $81,755.00. Following the completion of the transaction, the director now directly owns 6,111 shares of the company's stock, valued at approximately $999,209.61. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MIDD has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Middleby from $157.00 to $227.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. StockNews.com lowered shares of Middleby from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Barclays increased their price objective on shares of Middleby from $160.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Middleby from $192.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, KeyCorp lifted their price target on shares of Middleby from $160.00 to $185.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Middleby presently has a consensus rating of "Hold" and a consensus price target of $180.86.

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.