The Middleby Co. (NASDAQ:MIDD) Shares Purchased by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. boosted its position in shares of The Middleby Co. (NASDAQ:MIDDFree Report) by 481.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 68,400 shares of the industrial products company’s stock after acquiring an additional 56,627 shares during the quarter. Epoch Investment Partners Inc. owned about 0.13% of Middleby worth $10,066,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of Middleby by 14,616.7% in the 4th quarter. International Assets Investment Management LLC now owns 15,894 shares of the industrial products company’s stock valued at $2,339,000 after buying an additional 15,786 shares during the period. Assenagon Asset Management S.A. boosted its position in 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 purchasing an additional 14,991 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Middleby during the 4th quarter valued at approximately $1,178,000. Nordea Investment Management AB increased its holdings in shares of Middleby by 13.3% during the 4th quarter. Nordea Investment Management AB now owns 1,696,476 shares of the industrial products company’s stock valued at $251,621,000 after purchasing an additional 198,859 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Middleby by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 617,974 shares of the industrial products company’s stock valued at $90,953,000 after purchasing an additional 13,632 shares during the period. 98.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Chapin Sarah Palisi sold 235 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $137.18, for a total transaction of $32,237.30. Following the completion of the sale, the director now owns 7,211 shares in the company, valued at approximately $989,204.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Chapin Sarah Palisi sold 235 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $137.18, for a total transaction of $32,237.30. Following the completion of the transaction, the director now directly owns 7,211 shares in the company, valued at approximately $989,204.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Miller III sold 2,000 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $126.32, for a total transaction of $252,640.00. Following the completion of the sale, the director now owns 10,931 shares in the company, valued at $1,380,803.92. The disclosure for this sale can be found here. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Middleby from $166.00 to $159.00 and set a “buy” rating for the company in a report on Thursday, May 9th. William Blair upgraded Middleby to a “hold” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. lowered shares of Middleby from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $145.00 to $118.00 in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, two have given 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 an average target price of $153.43.

Read Our Latest Analysis on Middleby

Middleby Price Performance

NASDAQ MIDD traded down $0.01 during trading hours on Friday, hitting $125.89. 336,679 shares of the company’s stock traded hands, compared to its average volume of 583,125. The company has a market capitalization of $6.77 billion, a PE ratio of 17.53 and a beta of 1.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.40 and a quick ratio of 1.28. The Middleby Co. has a 52-week low of $109.59 and a 52-week high of $161.01. The firm’s 50-day moving average is $139.00 and its 200-day moving average is $142.05.

Middleby (NASDAQ:MIDDGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The industrial products company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.16). The company had revenue of $926.90 million during the quarter, compared to analyst estimates of $979.05 million. Middleby had a net margin of 9.82% and a return on equity of 15.88%. Middleby’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.19 EPS. Equities analysts forecast that The Middleby Co. will post 9.8 EPS for the current fiscal year.

Middleby Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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