Carroll Financial Associates Inc. Boosts Stake in Middleby Corp (NASDAQ:MIDD)

Carroll Financial Associates Inc. boosted its position in shares of Middleby Corp (NASDAQ:MIDD) by 1,086.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,231 shares of the industrial products company’s stock after purchasing an additional 2,043 shares during the period. Carroll Financial Associates Inc.’s holdings in Middleby were worth $302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in shares of Middleby by 14.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,617 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 330 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Middleby by 19.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 383,266 shares of the industrial products company’s stock worth $39,371,000 after buying an additional 63,349 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Middleby by 27.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,923 shares of the industrial products company’s stock worth $300,000 after buying an additional 623 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Middleby during the fourth quarter worth $485,000. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Middleby by 3.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 48,164 shares of the industrial products company’s stock valued at $4,948,000 after purchasing an additional 1,564 shares in the last quarter. 99.83% of the stock is owned by institutional investors and hedge funds.

Shares of MIDD stock traded up $0.89 on Friday, hitting $110.95. 438,700 shares of the stock were exchanged, compared to its average volume of 508,625. Middleby Corp has a one year low of $96.65 and a one year high of $142.98. The firm’s 50 day moving average is $131.04 and its two-hundred day moving average is $130.52. The company has a current ratio of 2.10, a quick ratio of 0.95 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $6.11 billion, a PE ratio of 18.19 and a beta of 1.60.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.07). Middleby had a return on equity of 21.17% and a net margin of 11.27%. The company had revenue of $761.00 million during the quarter, compared to the consensus estimate of $774.13 million. During the same quarter in the prior year, the business earned $1.63 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Middleby Corp will post 6.59 earnings per share for the current year.

In other Middleby news, Director Robert A. Nerbonne purchased 455 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average price of $111.21 per share, with a total value of $50,600.55. Following the acquisition, the director now directly owns 1,282 shares in the company, valued at approximately $142,571.22. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Nerbonne purchased 450 shares of the stock in a transaction on Friday, August 9th. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $51,232.50. Following the acquisition, the director now owns 1,282 shares in the company, valued at $145,955.70. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

A number of research firms recently commented on MIDD. Zacks Investment Research raised Middleby from a “sell” rating to a “hold” rating and set a $118.00 price target for the company in a research note on Wednesday. BidaskClub downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. ValuEngine downgraded Middleby from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup lowered their target price on Middleby from $138.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Buckingham Research set a $153.00 target price on Middleby and gave the company a “buy” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Middleby presently has an average rating of “Buy” and an average price target of $140.43.

Middleby Profile

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 foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

Read More: Discount Rate

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.