Occudo Quantitative Strategies LP Invests $470,000 in The Middleby Co. (NASDAQ:MIDD)

Occudo Quantitative Strategies LP bought a new stake in shares of The Middleby Co. (NASDAQ:MIDD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,471 shares of the industrial products company's stock, valued at approximately $470,000.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Middleby by 121.4% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company's stock valued at $615,000 after purchasing an additional 2,425 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Middleby during the 4th quarter valued at about $469,000. GHP Investment Advisors Inc. boosted its position in shares of Middleby by 13.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 22,929 shares of the industrial products company's stock valued at $3,106,000 after acquiring an additional 2,763 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Middleby during the fourth quarter worth about $219,000. Finally, Olstein Capital Management L.P. lifted its position in Middleby by 3.6% during the fourth quarter. Olstein Capital Management L.P. now owns 71,000 shares of the industrial products company's stock valued at $9,617,000 after purchasing an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 98.55% of the company's stock.

Middleby Stock Down 2.0%

Shares of Middleby stock traded down $3.11 during trading on Wednesday, hitting $149.00. The company's stock had a trading volume of 136,377 shares, compared to its average volume of 710,481. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $182.73. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The company has a fifty day simple moving average of $141.18 and a two-hundred day simple moving average of $146.08. The company has a market capitalization of $7.99 billion, a PE ratio of 20.53 and a beta of 1.65.

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

Insider Buying and Selling at Middleby

In other Middleby news, Director Edward P. Garden acquired 249,339 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were acquired at an average cost of $149.59 per share, with a total value of $37,298,621.01. Following the transaction, the director now owns 3,088,263 shares of the company's stock, valued at $461,973,262.17. The trade was a 8.78% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Chapin Sarah Palisi sold 500 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $163.51, for a total value of $81,755.00. Following the completion of the transaction, the director now owns 6,111 shares of the company's stock, valued at $999,209.61. This represents a 7.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 503,968 shares of company stock worth $73,215,160. 6.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com cut shares of Middleby from a "buy" rating to a "hold" rating in a research report on Thursday, April 10th. Canaccord Genuity Group reduced their price target on Middleby from $200.00 to $186.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays raised their price target on shares of Middleby from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Robert W. Baird lowered their price objective on shares of Middleby from $188.00 to $162.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Finally, KeyCorp reduced their price target on Middleby from $185.00 to $175.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $168.14.

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.