Dynamic Technology Lab Private Ltd Makes New $819,000 Investment in The Middleby Corporation $MIDD

Key Points

• Dynamic Technology Lab Private Ltd acquired 5,390 shares of The Middleby Corporation, valued at approximately $819,000, as reported in their recent SEC filing.
• Multiple hedge funds adjusted their stakes in Middleby, with significant increases from Captrust Financial Advisors and other institutional investors, who collectively own 98.55% of the company's stock.
• The Middleby Corporation reported an earnings per share (EPS) of $2.35 for the latest quarter, exceeding estimates, despite a 1.4% decline in year-over-year revenue.

Dynamic Technology Lab Private Ltd purchased a new position in The Middleby Corporation (NASDAQ:MIDD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,390 shares of the industrial products company's stock, valued at approximately $819,000.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in shares of Middleby by 7.4% in the fourth quarter. ProShare Advisors LLC now owns 2,517 shares of the industrial products company's stock worth $341,000 after purchasing an additional 173 shares in the last quarter. Sarasin & Partners LLP purchased a new stake in shares of Middleby in the first quarter worth $2,283,000. IMC Chicago LLC purchased a new stake in shares of Middleby in the first quarter worth $4,069,000. Two Sigma Investments LP purchased a new stake in shares of Middleby in the fourth quarter worth $1,621,000. Finally, Natixis Advisors LLC increased its stake in shares of Middleby by 17.3% in the first quarter. Natixis Advisors LLC now owns 104,352 shares of the industrial products company's stock worth $15,859,000 after purchasing an additional 15,411 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of analyst reports. Wall Street Zen cut shares of Middleby from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Zacks Research raised shares of Middleby to a "strong sell" rating in a research note on Monday, August 11th. Canaccord Genuity Group raised their target price on shares of Middleby from $162.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Wolfe Research set a $163.00 target price on shares of Middleby and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Middleby from $145.00 to $125.00 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $160.71.

Middleby Price Performance

MIDD traded down $4.19 during trading on Friday, hitting $134.59. 522,046 shares of the company traded hands, compared to its average volume of 748,789. The Middleby Corporation has a 1 year low of $118.09 and a 1 year high of $182.73. The company has a market cap of $6.82 billion, a PE ratio of 17.12 and a beta of 1.54. The stock's 50-day simple moving average is $139.42 and its two-hundred day simple moving average is $142.77. The company has a current ratio of 2.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.35 EPS for the quarter, topping analysts' consensus estimates of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The business had revenue of $977.86 million during the quarter, compared to analysts' expectations of $979.59 million. During the same period last year, the company posted $2.39 EPS. The business's revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that The Middleby Corporation will post 9.11 earnings per share for the current fiscal 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.