Oldfield Partners LLP Invests $51.74 Million in The Middleby Co. (NASDAQ:MIDD)

Oldfield Partners LLP bought a new position in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 351,539 shares of the industrial products company's stock, valued at approximately $51,736,000. Middleby comprises approximately 7.1% of Oldfield Partners LLP's investment portfolio, making the stock its 7th biggest position. Oldfield Partners LLP owned approximately 0.66% of Middleby at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its holdings in Middleby by 230.1% in the 4th quarter. Signaturefd LLC now owns 241 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 168 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Middleby in the third quarter valued at $50,000. CWM LLC lifted its stake in shares of Middleby by 80.2% in the 4th quarter. CWM LLC now owns 510 shares of the industrial products company's stock valued at $75,000 after purchasing an additional 227 shares during the last quarter. Mendota Financial Group LLC raised its holdings in Middleby by 13.5% in the 4th quarter. Mendota Financial Group LLC now owns 1,090 shares of the industrial products company's stock valued at $160,000 after buying an additional 130 shares during the period. Finally, Naples Global Advisors LLC purchased a new position in Middleby during the fourth quarter worth about $221,000. 98.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Middleby

In related news, Director Cathy L. Mccarthy sold 1,000 shares of the company's stock in a transaction on 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 owns 7,971 shares of the company's stock, valued at $1,220,519.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Cathy L. Mccarthy sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $153.12, for a total value of $153,120.00. Following the completion of the transaction, the director now directly owns 7,971 shares of the company's stock, valued at approximately $1,220,519.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Chapin Sarah Palisi sold 350 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $151.47, for a total value of $53,014.50. Following the completion of the transaction, the director now owns 6,306 shares of the company's stock, valued at approximately $955,169.82. The disclosure for this sale can be found here. 1.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MIDD. Canaccord Genuity Group cut their target price on Middleby from $166.00 to $159.00 and set a "buy" rating on the stock in a research report on Thursday. Jefferies Financial Group lifted their price target on shares of Middleby from $140.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $158.50.

Middleby Stock Performance

NASDAQ MIDD traded up $1.81 on Friday, reaching $138.09. The stock had a trading volume of 581,657 shares, compared to its average volume of 355,138. The business's 50-day moving average price is $148.93 and its 200 day moving average price is $140.29. The stock has a market cap of $7.40 billion, a P/E ratio of 18.39 and a beta of 1.58. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.21 and a current ratio of 2.31.

Middleby (NASDAQ:MIDD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.16). Middleby had a net margin of 9.93% and a return on equity of 16.99%. The business had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. During the same quarter in the prior year, the firm posted $2.19 earnings per share. The company's revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that The Middleby Co. will post 10.27 earnings per share for the current 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.

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