International Assets Investment Management LLC Purchases 15,786 Shares of The Middleby Co. (NASDAQ:MIDD)

International Assets Investment Management LLC grew its holdings in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) by 14,616.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 quarter.

Other large investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in shares of Middleby by 218.8% in the 4th 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 raised its position in shares of Middleby by 13.3% in the 4th 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. raised its position in shares of Middleby by 54.3% in the 3rd 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 raised its position in shares of Middleby by 28.5% in the 3rd 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 raised its position in shares of Middleby by 16.7% in the 4th 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. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Stock Up 1.1 %

Shares of Middleby stock traded up $1.59 during trading hours on Friday, hitting $142.60. 290,269 shares of the company's stock traded hands, compared to its average volume of 266,979. The stock has a 50 day simple moving average of $151.22 and a 200-day simple moving average of $138.65. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.73. The company has a market cap of $7.64 billion, a PE ratio of 19.24 and a beta of 1.56. The Middleby Co. has a twelve month low of $109.59 and a twelve month high of $161.01.

Middleby (NASDAQ:MIDD - Get Free Report) last announced 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. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. Middleby had a return on equity of 16.99% and a net margin of 9.93%. The company's revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. Equities research analysts anticipate that The Middleby Co. will post 10.32 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the transaction, the director now owns 6,306 shares of the company's stock, valued at $955,169.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Chapin Sarah Palisi sold 350 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total transaction of $53,014.50. Following the transaction, the director now owns 6,306 shares of the company's stock, valued at $955,169.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cathy L. Mccarthy sold 1,000 shares of the 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 approximately $1,220,519.52. The disclosure for this sale can be found here. Insiders own 1.16% of the company's stock.

Analyst Upgrades and Downgrades

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

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.