VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.07 Million Position in The Middleby Corporation $MIDD

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of The Middleby Corporation (NASDAQ:MIDD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 21,303 shares of the industrial products company’s stock, valued at approximately $3,068,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MIDD. Dynamic Technology Lab Private Ltd bought a new stake in Middleby in the 1st quarter worth approximately $819,000. Integrity Alliance LLC. bought a new stake in shares of Middleby during the 1st quarter valued at $365,000. United Services Automobile Association bought a new stake in shares of Middleby during the 1st quarter valued at $544,000. GAMMA Investing LLC grew its position in shares of Middleby by 13.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,018 shares of the industrial products company’s stock valued at $147,000 after acquiring an additional 117 shares during the period. Finally, Natixis Advisors LLC grew its position in shares of Middleby by 17.3% during the 1st quarter. Natixis Advisors LLC now owns 104,352 shares of the industrial products company’s stock valued at $15,859,000 after acquiring an additional 15,411 shares during the period. Institutional investors own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MIDD. Wolfe Research set a $163.00 price objective on shares of Middleby and gave the company an “outperform” rating in a research report on Thursday, September 4th. Zacks Research upgraded shares of Middleby to a “strong sell” rating in a research note on Monday, August 11th. Wall Street Zen cut shares of Middleby from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Canaccord Genuity Group boosted their price target on shares of Middleby from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, Barclays restated an “overweight” rating and issued a $180.00 target price (up from $165.00) on shares of Middleby in a report on Monday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $165.00.

Middleby Price Performance

Shares of MIDD stock opened at $134.49 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.57 and a quick ratio of 1.56. The company has a market capitalization of $6.82 billion, a P/E ratio of 17.11 and a beta of 1.52. The company’s 50-day simple moving average is $135.22 and its two-hundred day simple moving average is $139.10. The Middleby Corporation has a one year low of $118.09 and a one year high of $182.73.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.15. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The firm had revenue of $977.86 million during the quarter, compared to analysts’ expectations of $979.59 million. During the same quarter in the prior year, the company earned $2.39 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Middleby Corporation will post 9.11 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.