Concentric Capital Strategies LP Buys Shares of 19,450 The Middleby Co. (NASDAQ:MIDD)

Concentric Capital Strategies LP acquired a new stake in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,450 shares of the industrial products company's stock, valued at approximately $2,706,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MIDD. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Middleby in the 3rd quarter worth approximately $204,000. Atom Investors LP acquired a new stake in Middleby in the third quarter worth approximately $1,664,000. Captrust Financial Advisors boosted its stake in Middleby by 111.7% during the 3rd quarter. Captrust Financial Advisors now owns 6,058 shares of the industrial products company's stock valued at $843,000 after purchasing an additional 3,196 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Middleby by 1.4% during the 3rd quarter. Townsquare Capital LLC now owns 6,259 shares of the industrial products company's stock valued at $871,000 after purchasing an additional 89 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Middleby in the 3rd quarter worth $130,000. Institutional investors own 98.55% of the company's stock.

Middleby Trading Down 0.9 %

Middleby stock traded down $1.33 during midday trading on Tuesday, reaching $142.06. The stock had a trading volume of 364,353 shares, compared to its average volume of 558,109. The Middleby Co. has a twelve month low of $118.41 and a twelve month high of $161.01. 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 firm has a market cap of $7.64 billion, a price-to-earnings ratio of 19.59 and a beta of 1.60. The firm's fifty day simple moving average is $138.04 and its two-hundred day simple moving average is $133.61.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $942.81 million for the quarter, compared to analysts' expectations of $996.60 million. During the same quarter in the prior year, the firm posted $2.35 EPS. The business's quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts anticipate that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lowered their target price on Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, November 1st. StockNews.com raised shares of Middleby from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $164.00 target price on shares of Middleby in a report on Saturday, September 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.67.

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.