Oldfield Partners LLP Grows Holdings in The Middleby Co. (NASDAQ:MIDD)

Oldfield Partners LLP increased its position in The Middleby Co. (NASDAQ:MIDD - Free Report) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 332,473 shares of the industrial products company's stock after purchasing an additional 4,837 shares during the quarter. Middleby makes up 9.8% of Oldfield Partners LLP's portfolio, making the stock its 5th largest holding. Oldfield Partners LLP owned approximately 0.62% of Middleby worth $46,257,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Middleby by 6.6% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 225,210 shares of the industrial products company's stock valued at $31,333,000 after buying an additional 13,935 shares in the last quarter. Net Worth Advisory Group bought a new stake in Middleby in the third quarter valued at about $238,000. Cardinal Capital Management raised its position in Middleby by 16.2% in the third quarter. Cardinal Capital Management now owns 8,632 shares of the industrial products company's stock worth $1,201,000 after purchasing an additional 1,205 shares in the last quarter. Hunter Perkins Capital Management LLC lifted its stake in Middleby by 0.4% during the third quarter. Hunter Perkins Capital Management LLC now owns 50,170 shares of the industrial products company's stock worth $6,980,000 after purchasing an additional 195 shares during the period. Finally, Inspire Investing LLC boosted its holdings in Middleby by 6.7% during the third quarter. Inspire Investing LLC now owns 7,057 shares of the industrial products company's stock valued at $982,000 after purchasing an additional 442 shares in the last quarter. 98.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MIDD shares. Robert W. Baird increased their target price on Middleby from $155.00 to $169.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. KeyCorp cut their price objective on Middleby from $175.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Raymond James began coverage on shares of Middleby in a research report on Friday, June 28th. They set a "market perform" rating for the company. Canaccord Genuity Group restated a "buy" rating and issued a $164.00 price target on shares of Middleby in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Middleby from $118.00 to $120.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $156.17.

Middleby Trading Down 0.6 %

MIDD stock traded down $0.78 during trading on Tuesday, hitting $136.86. The company had a trading volume of 353,202 shares, compared to its average volume of 485,796. The firm has a 50-day moving average price of $137.45 and a 200-day moving average price of $134.30. The Middleby Co. has a 12 month low of $109.59 and a 12 month high of $161.01. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 19.02 and a beta of 1.58.

Middleby (NASDAQ:MIDD - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $991.55 million during the quarter, compared to analyst estimates of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. The company's revenue was down 4.7% on a year-over-year basis. During the same period last year, the company earned $2.47 earnings per share. As a group, analysts predict that The Middleby Co. will post 9.63 earnings per share for the current 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.