The Middleby Co. (NASDAQ:MIDD) Stock Position Raised by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in shares of The Middleby Co. (NASDAQ:MIDD) by 14,616.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,894 shares of the industrial products company’s stock after acquiring an additional 15,786 shares during the quarter. International Assets Investment Management LLC’s holdings in Middleby were worth $2,339,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MIDD. Assenagon Asset Management S.A. boosted its position in shares of Middleby by 218.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 21,842 shares of the industrial products company’s stock worth $3,214,000 after buying an additional 14,991 shares during the period. Nordea Investment Management AB boosted its position in shares of Middleby by 13.3% in the fourth quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock worth $251,621,000 after buying an additional 198,859 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Middleby by 54.3% in the third quarter. Envestnet Asset Management Inc. now owns 38,356 shares of the industrial products company’s stock worth $4,910,000 after buying an additional 13,493 shares during the period. Hudson Bay Capital Management LP boosted its position in shares of Middleby by 28.5% in the third quarter. Hudson Bay Capital Management LP now owns 56,712 shares of the industrial products company’s stock worth $7,259,000 after buying an additional 12,589 shares during the period. Finally, Quent Capital LLC boosted its position in shares of Middleby by 16.7% in the fourth quarter. Quent Capital LLC now owns 7,204 shares of the industrial products company’s stock worth $1,060,000 after buying an additional 1,032 shares during the period. 98.55% of the stock is owned by institutional investors.

Middleby Price Performance

NASDAQ MIDD opened at $142.60 on Friday. The Middleby Co. has a fifty-two week low of $109.59 and a fifty-two week high of $161.01. The stock’s 50-day moving average is $151.22 and its two-hundred day moving average is $138.55. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.31 and a quick ratio of 1.21. The firm has a market cap of $7.64 billion, a P/E ratio of 19.24 and a beta of 1.56.

Middleby (NASDAQ:MIDD) last posted its earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.21. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $2.57 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MIDD shares. Jefferies Financial Group raised their target price on Middleby from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Canaccord Genuity Group lifted their price objective on Middleby from $164.00 to $166.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, TheStreet raised Middleby from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Insider Buying and Selling at Middleby

In other Middleby news, Director Cathy L. Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total transaction of $153,120.00. Following the transaction, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Cathy L. Mccarthy sold 1,000 shares of Middleby stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the transaction, the director now directly owns 7,971 shares in the company, valued at $1,220,519.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares in the company, valued at $955,169.82. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company’s stock.

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.