Aigen Investment Management LP Buys Shares of 3,046 The Middleby Co. (NASDAQ:MIDD)

Aigen Investment Management LP bought a new stake in shares of The Middleby Co. (NASDAQ:MIDD) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,046 shares of the industrial products company’s stock, valued at approximately $505,000.

Several other institutional investors and hedge funds have also modified their holdings of MIDD. Victory Capital Management Inc. boosted its position in shares of The Middleby by 2,310.4% during the 1st quarter. Victory Capital Management Inc. now owns 1,707,514 shares of the industrial products company’s stock valued at $283,021,000 after acquiring an additional 1,636,674 shares during the last quarter. Norges Bank bought a new stake in shares of The Middleby during the 4th quarter valued at about $120,526,000. Nordea Investment Management AB bought a new stake in shares of The Middleby during the 4th quarter valued at about $115,212,000. Sarasin & Partners LLP boosted its position in shares of The Middleby by 39.4% during the 1st quarter. Sarasin & Partners LLP now owns 1,814,308 shares of the industrial products company’s stock valued at $300,722,000 after acquiring an additional 512,838 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of The Middleby by 36.4% during the 1st quarter. Alliancebernstein L.P. now owns 1,488,225 shares of the industrial products company’s stock valued at $246,673,000 after acquiring an additional 397,393 shares during the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Shares of NASDAQ:MIDD opened at $167.05 on Friday. The company has a market capitalization of $9.29 billion, a P/E ratio of 41.55 and a beta of 1.73. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.15 and a current ratio of 1.95. The Middleby Co. has a 1 year low of $70.50 and a 1 year high of $186.20. The firm’s fifty day simple moving average is $171.00.

The Middleby (NASDAQ:MIDD) last posted its earnings results on Thursday, May 6th. The industrial products company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.16. The Middleby had a return on equity of 14.70% and a net margin of 8.59%. The company had revenue of $758.06 million for the quarter, compared to the consensus estimate of $714.50 million. During the same quarter in the prior year, the company earned $1.46 earnings per share. The Middleby’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that The Middleby Co. will post 7.71 EPS for the current year.

A number of research firms recently weighed in on MIDD. Citigroup upgraded The Middleby from a “neutral” rating to a “buy” rating in a research report on Monday. BMO Capital Markets boosted their target price on The Middleby from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, May 10th. Jefferies Financial Group boosted their target price on The Middleby from $190.00 to $220.00 in a research note on Thursday, April 22nd. KeyCorp boosted their target price on The Middleby from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 22nd. Finally, CL King raised The Middleby from a “neutral” rating to a “buy” rating in a research note on Thursday, April 22nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $194.22.

The Middleby Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services a range of 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 conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, countertop cooking, and kitchen ventilation equipment; heated cabinets, charbroilers, ventless cooking systems, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions.

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

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