Natixis Advisors LLC Takes Position in The Middleby Co. (NASDAQ:MIDD)

Natixis Advisors LLC purchased a new position in The Middleby Co. (NASDAQ:MIDD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 78,545 shares of the industrial products company’s stock, valued at approximately $10,928,000. Natixis Advisors LLC owned about 0.15% of Middleby as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Select Equity Group L.P. boosted its holdings in shares of Middleby by 15.4% in the second quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after buying an additional 846,884 shares during the period. Vanguard Group Inc. boosted its stake in Middleby by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after purchasing an additional 15,798 shares during the period. EdgePoint Investment Group Inc. grew its position in Middleby by 1.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after purchasing an additional 20,511 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Middleby by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock valued at $233,182,000 after purchasing an additional 11,552 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in shares of Middleby by 11,853.1% in the second quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock valued at $118,609,000 after purchasing an additional 959,272 shares in the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Analyst Ratings Changes

MIDD has been the subject of a number of research reports. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a research report on Saturday, September 14th. Robert W. Baird boosted their price objective on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group cut their target price on shares of Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $154.67.

Middleby Stock Down 0.4 %

MIDD opened at $135.73 on Thursday. The business has a 50 day moving average price of $137.32 and a 200 day moving average price of $133.36. 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 Middleby Co. has a twelve month low of $118.41 and a twelve month high of $161.01. The firm has a market cap of $7.30 billion, a P/E ratio of 18.72 and a beta of 1.58.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a net margin of 10.14% and a return on equity of 14.66%. The firm had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. During the same quarter last year, the company earned $2.35 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Research analysts forecast that The Middleby Co. will post 9.2 EPS 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.