Vulcan Value Partners LLC Buys 41,373 Shares of The Middleby Corporation $MIDD

Vulcan Value Partners LLC lifted its position in The Middleby Corporation (NASDAQ:MIDD) by 141.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,624 shares of the industrial products company’s stock after buying an additional 41,373 shares during the quarter. Vulcan Value Partners LLC owned about 0.14% of Middleby worth $9,388,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MIDD. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Middleby in the 2nd quarter valued at about $30,000. Allworth Financial LP grew its position in shares of Middleby by 168.8% in the second quarter. Allworth Financial LP now owns 207 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. TFC Financial Management Inc. grew its position in shares of Middleby by 23,000.0% in the third quarter. TFC Financial Management Inc. now owns 231 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 230 shares during the last quarter. AdvisorShares Investments LLC bought a new position in shares of Middleby during the second quarter worth approximately $37,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Middleby during the 3rd quarter worth approximately $46,000. 98.55% of the stock is owned by institutional investors.

Middleby Price Performance

MIDD stock opened at $160.78 on Monday. The company’s 50-day moving average price is $153.40 and its two-hundred day moving average price is $138.27. The Middleby Corporation has a 12 month low of $110.82 and a 12 month high of $182.73. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.69. The firm has a market cap of $8.10 billion, a P/E ratio of -36.54 and a beta of 1.40.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Zacks Research lowered Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Wall Street Zen raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Canaccord Genuity Group raised their price target on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, December 5th. KeyCorp reissued an “overweight” rating on shares of Middleby in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of Middleby from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Middleby presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.83.

Insider Activity

In other Middleby news, Director Robert A. Nerbonne purchased 780 shares of the stock in a transaction dated Tuesday, December 9th. The stock was bought at an average price of $128.52 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.18% of the company’s stock.

Middleby 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.