Two Sigma Investments LP Takes $1.62 Million Position in The Middleby Co. (NASDAQ:MIDD)

Two Sigma Investments LP acquired a new stake in The Middleby Co. (NASDAQ:MIDD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,970 shares of the industrial products company's stock, valued at approximately $1,621,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Lorne Steinberg Wealth Management Inc. grew its stake in Middleby by 0.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 24,535 shares of the industrial products company's stock valued at $3,323,000 after acquiring an additional 70 shares during the last quarter. Principal Securities Inc. grew its stake in Middleby by 16.0% in the 4th quarter. Principal Securities Inc. now owns 566 shares of the industrial products company's stock valued at $77,000 after acquiring an additional 78 shares during the last quarter. CIBC Asset Management Inc grew its stake in Middleby by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 1,651 shares of the industrial products company's stock valued at $224,000 after acquiring an additional 81 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Middleby by 1.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 7,167 shares of the industrial products company's stock valued at $971,000 after acquiring an additional 81 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Middleby by 2.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,472 shares of the industrial products company's stock worth $470,000 after purchasing an additional 95 shares during the last quarter. 98.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MIDD. Canaccord Genuity Group decreased their price target on shares of Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Thursday, April 10th. Barclays raised their price target on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. KeyCorp decreased their price target on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird decreased their price target on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $168.14.

Middleby Trading Down 0.1%

Shares of MIDD traded down $0.09 during mid-day trading on Wednesday, hitting $147.79. The company had a trading volume of 475,318 shares, compared to its average volume of 716,232. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $182.73. The business's 50-day simple moving average is $139.54 and its 200-day simple moving average is $146.68. The company has a quick ratio of 1.70, a current ratio of 2.81 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.93 billion, a PE ratio of 20.38 and a beta of 1.65.

Middleby (NASDAQ:MIDD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.14. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business had revenue of $906.63 million during the quarter, compared to the consensus estimate of $941.46 million. During the same quarter last year, the company earned $1.89 earnings per share. The business's quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that The Middleby Co. will post 9.11 earnings per share for the current year.

Insider Transactions at Middleby

In related news, Director Edward P. Garden purchased 249,339 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average price of $149.59 per share, with a total value of $37,298,621.01. Following the completion of the transaction, the director now owns 3,088,263 shares of the company's stock, valued at $461,973,262.17. This represents a 8.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders purchased 640,968 shares of company stock valued at $93,495,270. 6.18% of the stock is currently owned by corporate insiders.

Middleby 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.