3,000 Shares in The Middleby Corporation (MIDD) Acquired by Janney Capital Management LLC
Janney Capital Management LLC purchased a new position in shares of The Middleby Corporation (NASDAQ:MIDD) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the industrial products company’s stock, valued at approximately $384,000.
Other large investors also recently bought and sold shares of the company. IFP Advisors Inc grew its stake in shares of The Middleby by 10.5% during the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 98 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake in shares of The Middleby by 9.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 95 shares during the period. Fiduciary Trust Co. acquired a new position in shares of The Middleby during the 2nd quarter worth $143,000. Cubist Systematic Strategies LLC acquired a new position in shares of The Middleby during the 2nd quarter worth $154,000. Finally, Zions Bancorporation acquired a new position in shares of The Middleby during the 3rd quarter worth $198,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on MIDD. Zacks Investment Research upgraded shares of The Middleby from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Susquehanna Bancshares began coverage on shares of The Middleby in a research report on Wednesday, September 27th. They issued a “positive” rating and a $141.00 price objective on the stock. Citigroup reiterated a “neutral” rating and issued a $130.00 price objective on shares of The Middleby in a research report on Thursday, September 7th. Macquarie upgraded shares of The Middleby from a “neutral” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research report on Tuesday, August 15th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $150.00 price objective on shares of The Middleby in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The Middleby has an average rating of “Hold” and an average price target of $137.22.
The Middleby Corporation (NASDAQ MIDD) opened at $127.53 on Wednesday. The firm has a market cap of $6,987.99, a PE ratio of 23.06 and a beta of 1.89. The Middleby Corporation has a 1-year low of $107.53 and a 1-year high of $150.87. The company has a current ratio of 1.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.72.
The Middleby declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 14th that authorizes the company to buyback 2,500,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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The Middleby Company Profile
The Middleby Corporation 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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