International Assets Investment Management LLC Increases Stock Holdings in The Middleby Co. (NASDAQ:MIDD)

International Assets Investment Management LLC raised its stake in The Middleby Co. (NASDAQ:MIDD) by 14,616.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,894 shares of the industrial products company’s stock after purchasing 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Middleby in the 1st quarter valued at approximately $821,000. Great West Life Assurance Co. Can lifted its holdings in shares of Middleby by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 30,611 shares of the industrial products company’s stock valued at $5,161,000 after buying an additional 2,362 shares during the period. Sei Investments Co. raised its holdings in Middleby by 1.0% during the first quarter. Sei Investments Co. now owns 57,728 shares of the industrial products company’s stock worth $9,442,000 after purchasing an additional 588 shares during the last quarter. Baird Financial Group Inc. raised its holdings in Middleby by 136.2% during the first quarter. Baird Financial Group Inc. now owns 4,706 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Middleby during the first quarter worth $21,366,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction on 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 sale, the director now owns 6,306 shares of the company’s stock, valued at $955,169.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Chapin Sarah Palisi sold 350 shares of Middleby stock in a transaction on 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 sale, the director now owns 6,306 shares of the company’s stock, valued at $955,169.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $153.12, for a total value of $153,120.00. Following the sale, the director now directly owns 7,971 shares of the company’s stock, valued at approximately $1,220,519.52. The disclosure for this sale can be found here. Company insiders own 1.16% of the company’s stock.

Middleby Stock 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 has a market cap of $7.64 billion, a price-to-earnings ratio of 19.24 and a beta of 1.56. The business has a fifty day moving average of $151.22 and a 200-day moving average of $138.55. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.21. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. As a group, analysts predict that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

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.