Vulcan Value Partners LLC Has $9.39 Million Position in The Middleby Corporation $MIDD

Vulcan Value Partners LLC increased its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 141.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,624 shares of the industrial products company’s stock after purchasing an additional 41,373 shares during the quarter. Vulcan Value Partners LLC’s holdings in Middleby were worth $9,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clarkston Capital Partners LLC lifted its stake in shares of Middleby by 0.6% in the 2nd quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock valued at $99,758,000 after acquiring an additional 4,204 shares during the last quarter. Olstein Capital Management L.P. raised its position in Middleby by 34.2% in the third quarter. Olstein Capital Management L.P. now owns 57,000 shares of the industrial products company’s stock valued at $7,577,000 after purchasing an additional 14,538 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Middleby during the second quarter valued at about $478,000. Vestor Capital LLC grew its holdings in shares of Middleby by 268.0% during the second quarter. Vestor Capital LLC now owns 3,680 shares of the industrial products company’s stock worth $530,000 after purchasing an additional 2,680 shares during the last quarter. Finally, Bryce Point Capital LLC bought a new stake in shares of Middleby during the second quarter worth about $883,000. Institutional investors and hedge funds own 98.55% of the company’s stock.

Insider Transactions at Middleby

In other Middleby news, Director Robert A. Nerbonne purchased 780 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were purchased at an average cost of $128.52 per share, for a total transaction of $100,245.60. Following the acquisition, the director owned 21,471 shares of the company’s stock, valued at approximately $2,759,452.92. This represents a 3.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.18% of the company’s stock.

Middleby Stock Performance

MIDD stock opened at $160.78 on Monday. The firm has a market cap of $8.10 billion, a PE ratio of -36.54 and a beta of 1.40. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $153.40 and a 200-day moving average price of $138.27. The Middleby Corporation has a 1-year low of $110.82 and a 1-year high of $182.73.

Analysts Set New Price Targets

Several equities research analysts recently commented on MIDD shares. Barclays set a $168.00 target price on shares of Middleby and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Zacks Research cut shares of Middleby from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 26th. KeyCorp restated an “overweight” rating on shares of Middleby in a report on Friday, December 5th. Canaccord Genuity Group lifted their target price on Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Finally, Wall Street Zen raised Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.83.

Middleby Company Profile

Middleby Corporation is a global manufacturer and distributor of commercial foodservice and food processing equipment. The company designs, engineers and markets a wide range of cooking, baking, refrigeration, warewashing, holding and dispensing solutions. Middleby’s products serve restaurants, hotels, convenience stores, institutional cafeterias, cruise ships and other foodservice operators.

The company’s portfolio spans multiple well-known brands, including Blodgett ovens, TurboChef rapid?cook ovens, Southbend ranges and broilers, Pitco fryers, and Viking residential and commercial kitchen appliances.