D.A. Davidson & CO. increased its holdings in shares of Middleby Corp (NASDAQ:MIDD) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,888 shares of the industrial products company’s stock after purchasing an additional 1,262 shares during the quarter. D.A. Davidson & CO.’s holdings in Middleby were worth $2,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in MIDD. Dimensional Fund Advisors LP lifted its holdings in shares of Middleby by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 220,550 shares of the industrial products company’s stock valued at $26,797,000 after purchasing an additional 6,218 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Middleby by 15.3% during the second quarter. Stifel Financial Corp now owns 8,402 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 1,113 shares in the last quarter. State Street Corp lifted its holdings in shares of Middleby by 0.7% during the second quarter. State Street Corp now owns 1,018,670 shares of the industrial products company’s stock valued at $123,773,000 after purchasing an additional 7,283 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Middleby during the second quarter valued at $154,000. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Middleby by 24.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,487 shares of the industrial products company’s stock valued at $1,274,000 after purchasing an additional 2,038 shares in the last quarter.
Middleby Corp (NASDAQ MIDD) opened at $135.00 on Friday. Middleby Corp has a 1-year low of $107.53 and a 1-year high of $150.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.02. The firm has a market capitalization of $7,660.00, a PE ratio of 25.38 and a beta of 1.78.
Middleby announced that its Board of Directors has approved a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase 2,500,000 shares. This repurchase authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
A number of research analysts have weighed in on the company. Citigroup lowered their target price on Middleby from $132.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday, November 10th. Zacks Investment Research raised Middleby from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a report on Wednesday, January 17th. BidaskClub downgraded Middleby from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, BMO Capital Markets lowered their target price on Middleby from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $139.63.
In other Middleby news, Treasurer Martin M. Lindsay sold 10,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $129.50, for a total value of $1,295,000.00. Following the transaction, the treasurer now owns 61,726 shares of the company’s stock, valued at $7,993,517. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
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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