Dynamic Technology Lab Private Ltd Purchases 17,253 Shares of The Middleby Co. (NASDAQ:MIDD)

Dynamic Technology Lab Private Ltd lifted its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 472.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,906 shares of the industrial products company's stock after purchasing an additional 17,253 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Middleby were worth $2,909,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MIDD. Quarry LP boosted its stake in Middleby by 133.3% in the second quarter. Quarry LP now owns 231 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 132 shares during the period. GAMMA Investing LLC grew its holdings in Middleby by 97.7% in the 2nd quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company's stock worth $31,000 after buying an additional 126 shares in the last quarter. Covestor Ltd grew its holdings in Middleby by 306.5% in the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company's stock worth $35,000 after buying an additional 190 shares in the last quarter. UMB Bank n.a. grew its holdings in Middleby by 93.2% in the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company's stock worth $39,000 after buying an additional 136 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Middleby in the 2nd quarter worth approximately $45,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MIDD has been the subject of a number of research analyst reports. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $164.00 target price on shares of Middleby in a research report on Saturday, September 14th. StockNews.com raised Middleby from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Finally, Canaccord Genuity Group lowered their price objective on shares of Middleby from $164.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, November 1st. 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's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $154.67.

Middleby Stock Performance

NASDAQ:MIDD traded up $4.80 during midday trading on Monday, reaching $146.96. The stock had a trading volume of 399,471 shares, compared to its average volume of 505,866. The stock has a market capitalization of $7.91 billion, a P/E ratio of 20.05 and a beta of 1.58. 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 Middleby Co. has a 1-year low of $118.41 and a 1-year high of $161.01. The firm's fifty day simple moving average is $137.72 and its 200-day simple moving average is $133.32.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $996.60 million. During the same quarter in the previous year, the company earned $2.35 EPS. Middleby's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts forecast that The Middleby Co. will post 9.12 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.