Quantinno Capital Management LP Grows Holdings in The Middleby Co. (NASDAQ:MIDD)

Quantinno Capital Management LP raised its position in The Middleby Co. (NASDAQ:MIDD) by 38.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,107 shares of the industrial products company’s stock after buying an additional 1,428 shares during the period. Quantinno Capital Management LP’s holdings in Middleby were worth $711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Middleby during the third quarter worth about $4,486,000. Centiva Capital LP increased its stake in shares of Middleby by 125.7% during the third quarter. Centiva Capital LP now owns 10,759 shares of the industrial products company’s stock worth $1,497,000 after purchasing an additional 5,993 shares in the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Middleby during the third quarter worth about $2,706,000. Beacon Investment Advisory Services Inc. purchased a new stake in shares of Middleby during the third quarter worth about $204,000. Finally, Atom Investors LP purchased a new stake in shares of Middleby during the third quarter worth about $1,664,000. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

NASDAQ:MIDD opened at $138.75 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.81 and a quick ratio of 1.70. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 19.14 and a beta of 1.60. The company’s 50-day moving average is $138.68 and its two-hundred day moving average is $134.36. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $161.01.

Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). The firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. Analysts forecast that The Middleby Co. will post 9.12 EPS for the current year.

Wall Street Analysts Forecast Growth

MIDD has been the subject of a number of research reports. Jefferies Financial Group reissued a “hold” rating and set a $160.00 target price (down previously from $170.00) on shares of Middleby in a research note on Thursday. StockNews.com upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. Finally, Canaccord Genuity Group lowered their price target on shares of Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $154.67.

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.