SG Americas Securities LLC Has $678,000 Stock Position in The Middleby Corporation (NASDAQ:MIDD)

SG Americas Securities LLC boosted its position in The Middleby Corporation (NASDAQ:MIDD - Free Report) by 209.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,458 shares of the industrial products company's stock after acquiring an additional 3,018 shares during the period. SG Americas Securities LLC's holdings in Middleby were worth $678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Middleby by 44.9% in the 1st quarter. GAMMA Investing LLC now owns 901 shares of the industrial products company's stock valued at $137,000 after purchasing an additional 279 shares during the last quarter. IMC Chicago LLC bought a new position in Middleby in the first quarter valued at approximately $4,069,000. UMB Bank n.a. grew its holdings in Middleby by 60.3% during the 1st quarter. UMB Bank n.a. now owns 638 shares of the industrial products company's stock worth $97,000 after acquiring an additional 240 shares during the period. Sarasin & Partners LLP bought a new stake in shares of Middleby during the 1st quarter valued at $2,283,000. Finally, Rhumbline Advisers raised its position in shares of Middleby by 0.6% during the 1st quarter. Rhumbline Advisers now owns 148,004 shares of the industrial products company's stock valued at $22,494,000 after acquiring an additional 895 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Stock Down 0.3%

NASDAQ:MIDD traded down $0.44 during trading hours on Tuesday, reaching $143.18. 778,863 shares of the stock were exchanged, compared to its average volume of 722,244. The stock has a market cap of $7.68 billion, a PE ratio of 17.90 and a beta of 1.61. The Middleby Corporation has a twelve month low of $118.41 and a twelve month high of $182.73. The firm has a 50 day moving average of $141.02 and a 200 day moving average of $147.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.72 and a quick ratio of 1.73.

Middleby (NASDAQ:MIDD - Get Free Report) last released its earnings results on Wednesday, May 7th. The industrial products company reported $2.08 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.14. Middleby had a net margin of 11.26% and a return on equity of 14.47%. 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 firm earned $1.89 earnings per share. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts expect that The Middleby Corporation will post 9.11 earnings per share for the current year.

Insiders Place Their Bets

In other Middleby news, Director Edward P. Garden purchased 137,000 shares of the stock in a transaction on Wednesday, May 21st. The shares were purchased at an average price of $148.03 per share, with a total value of $20,280,110.00. Following the completion of the transaction, the director now directly owns 3,276,834 shares in the company, valued at $485,069,737.02. This represents a 4.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 640,968 shares of company stock valued at $93,495,270 in the last 90 days. 6.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Middleby from $145.00 to $150.00 and gave the stock an "underweight" rating in a research note on Wednesday, February 26th. KeyCorp cut their target price on shares of Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wall Street Zen lowered shares of Middleby from a "buy" rating to a "hold" rating in a report on Thursday, April 10th. Barclays raised their price objective on Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Robert W. Baird reduced their target price on Middleby from $188.00 to $162.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $168.14.

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.