HighTower Advisors LLC Sells 3,613 Shares of The Middleby Co. (NASDAQ:MIDD)

HighTower Advisors LLC reduced its stake in The Middleby Co. (NASDAQ:MIDD - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 154,168 shares of the industrial products company's stock after selling 3,613 shares during the quarter. HighTower Advisors LLC owned about 0.29% of Middleby worth $21,435,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Select Equity Group L.P. grew its position in shares of Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company's stock worth $779,835,000 after purchasing an additional 846,884 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Middleby by 17.7% during the 3rd quarter. Pacer Advisors Inc. now owns 1,138,999 shares of the industrial products company's stock worth $158,469,000 after purchasing an additional 171,634 shares in the last quarter. Sarasin & Partners LLP grew its position in shares of Middleby by 1.6% during the 2nd quarter. Sarasin & Partners LLP now owns 925,915 shares of the industrial products company's stock worth $113,526,000 after purchasing an additional 14,413 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Middleby by 43.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 903,346 shares of the industrial products company's stock worth $110,768,000 after purchasing an additional 274,513 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Middleby by 30.6% during the 2nd quarter. Principal Financial Group Inc. now owns 713,618 shares of the industrial products company's stock worth $87,497,000 after purchasing an additional 167,298 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

Middleby Price Performance

Middleby stock traded up $0.28 during mid-day trading on Friday, reaching $142.00. The company had a trading volume of 221,056 shares, compared to its average volume of 498,462. The Middleby Co. has a fifty-two week low of $118.41 and a fifty-two week high of $161.01. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.64 billion, a P/E ratio of 19.59 and a beta of 1.60. The business has a fifty day simple moving average of $138.05 and a 200 day simple moving average of $133.86.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its 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 company had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. During the same quarter in the prior year, the business earned $2.35 EPS. The business's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities research analysts predict that The Middleby Co. will post 9.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on MIDD. Canaccord Genuity Group decreased their target price 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. StockNews.com upgraded shares of Middleby from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Middleby currently has a consensus rating of "Moderate Buy" and an average price target 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.