UBS Asset Management Americas Inc. increased its position in The Middleby Corp. (NASDAQ:MIDD) by 7.0% during the second quarter, Holdings Channel reports. The firm owned 41,915 shares of the company’s stock after buying an additional 2,742 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of The Middleby Corp. worth $4,831,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in MIDD. Norges Bank bought a new position in The Middleby Corp. during the fourth quarter worth approximately $48,684,000. Aperio Group LLC boosted its position in The Middleby Corp. by 16.2% in the first quarter. Aperio Group LLC now owns 11,961 shares of the company’s stock worth $1,277,000 after buying an additional 1,666 shares during the period. Virginia Retirement System bought a new position in The Middleby Corp. during the first quarter worth approximately $747,000. Ngam Advisors L.P. boosted its position in The Middleby Corp. by 48.8% in the first quarter. Ngam Advisors L.P. now owns 22,031 shares of the company’s stock worth $2,352,000 after buying an additional 7,227 shares during the period. Finally, Teachers Advisors Inc. boosted its position in The Middleby Corp. by 5.8% in the first quarter. Teachers Advisors Inc. now owns 344,417 shares of the company’s stock worth $36,773,000 after buying an additional 18,755 shares during the period. 95.10% of the stock is owned by hedge funds and other institutional investors.
The Middleby Corp. (NASDAQ:MIDD) traded up 0.39% during midday trading on Friday, reaching $123.79. 112,029 shares of the company traded hands. The firm has a 50-day moving average price of $126.79 and a 200-day moving average price of $117.32. The Middleby Corp. has a one year low of $79.11 and a one year high of $140.98. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 31.18 and a beta of 1.48.
The Middleby Corp. (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 10th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. Equities analysts predict that The Middleby Corp. will post $4.80 EPS for the current fiscal year.
MIDD has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of The Middleby Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Deutsche Bank AG assumed coverage on shares of The Middleby Corp. in a research report on Tuesday, September 6th. They issued a “hold” rating and a $123.00 target price for the company. Finally, Wellington Shields raised shares of The Middleby Corp. from a “hold” rating to an “accumulate” rating in a research report on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $126.80.
About The Middleby Corp.
The Middleby Corporation (Middleby) 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.
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