The Middleby Corporation (MIDD) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. grew its position in The Middleby Corporation (NASDAQ:MIDD) by 79.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,550 shares of the industrial products company’s stock after buying an additional 11,750 shares during the quarter. Macquarie Group Ltd.’s holdings in The Middleby were worth $3,403,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp increased its position in The Middleby by 15.3% during the 2nd quarter. Stifel Financial Corp now owns 8,402 shares of the industrial products company’s stock worth $1,017,000 after purchasing an additional 1,113 shares in the last quarter. Arcadia Investment Management Corp MI increased its position in The Middleby by 1.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 42,548 shares of the industrial products company’s stock worth $5,453,000 after purchasing an additional 470 shares in the last quarter. Nicholas Company Inc. increased its position in The Middleby by 173.8% during the 2nd quarter. Nicholas Company Inc. now owns 133,945 shares of the industrial products company’s stock worth $16,275,000 after purchasing an additional 85,020 shares in the last quarter. Financial Counselors Inc. increased its position in The Middleby by 39.7% during the 2nd quarter. Financial Counselors Inc. now owns 14,673 shares of the industrial products company’s stock worth $1,783,000 after purchasing an additional 4,170 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in The Middleby by 38.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 267,864 shares of the industrial products company’s stock worth $32,548,000 after purchasing an additional 74,120 shares in the last quarter. Institutional investors and hedge funds own 99.97% of the company’s stock.

Shares of The Middleby Corporation (NASDAQ:MIDD) opened at $126.59 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. The Middleby Corporation has a 52 week low of $107.53 and a 52 week high of $150.87. The stock has a market capitalization of $7,078.03, a PE ratio of 23.36 and a beta of 1.89.

The Middleby announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 14th that allows the company to repurchase 2,500,000 outstanding shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other The Middleby news, Director Gordon Obrien sold 5,600 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the sale, the director now directly owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

A number of analysts recently commented on MIDD shares. Citigroup dropped their price objective on The Middleby from $132.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, November 10th. Susquehanna Bancshares started coverage on The Middleby in a research report on Wednesday, September 27th. They set a “positive” rating and a $141.00 price objective for the company. BidaskClub cut The Middleby from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. Robert W. Baird dropped their price objective on The Middleby from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. Finally, Zacks Investment Research cut The Middleby from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $137.22.

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About The Middleby

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

Institutional Ownership by Quarter for The Middleby (NASDAQ:MIDD)

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