Daiwa Securities Group Inc. Has $6.23 Million Stake in Middleby Corp (MIDD)

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Daiwa Securities Group Inc. lifted its holdings in shares of Middleby Corp (NASDAQ:MIDD) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,654 shares of the industrial products company’s stock after buying an additional 12,384 shares during the period. Daiwa Securities Group Inc. owned approximately 0.11% of Middleby worth $6,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MIDD. Dubuque Bank & Trust Co. boosted its position in shares of Middleby by 161.3% during the fourth quarter. Dubuque Bank & Trust Co. now owns 499 shares of the industrial products company’s stock worth $51,000 after buying an additional 308 shares during the period. Moody National Bank Trust Division acquired a new position in shares of Middleby during the fourth quarter worth approximately $54,000. ETF Managers Group LLC boosted its position in shares of Middleby by 18.3% during the fourth quarter. ETF Managers Group LLC now owns 1,073 shares of the industrial products company’s stock worth $110,000 after buying an additional 166 shares during the period. Eukles Asset Management acquired a new position in shares of Middleby during the fourth quarter worth approximately $153,000. Finally, Zions Bancorporation acquired a new position in shares of Middleby during the third quarter worth approximately $159,000.

MIDD has been the subject of a number of research analyst reports. BidaskClub downgraded Middleby from a “buy” rating to a “hold” rating in a research report on Saturday, December 8th. Seaport Global Securities upgraded Middleby from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 14th. Zacks Investment Research upgraded Middleby from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Tuesday, January 8th. Robert W. Baird upgraded Middleby from a “neutral” rating to an “outperform” rating and set a $142.00 target price for the company in a research report on Tuesday, January 22nd. Finally, TheStreet downgraded Middleby from a “b-” rating to a “c+” rating in a research report on Friday, December 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $140.50.

MIDD opened at $120.24 on Tuesday. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 19.52 and a beta of 1.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.88 and a quick ratio of 0.99. Middleby Corp has a 1-year low of $96.65 and a 1-year high of $137.16.

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About Middleby

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Further Reading: How to interpret the current ratio

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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