Tocqueville Asset Management L.P. Buys 481 Shares of Middleby Corp (NASDAQ:MIDD)

Tocqueville Asset Management L.P. boosted its stake in Middleby Corp (NASDAQ:MIDD) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,570 shares of the industrial products company’s stock after acquiring an additional 481 shares during the period. Tocqueville Asset Management L.P.’s holdings in Middleby were worth $1,299,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Middleby by 27.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,923 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 623 shares during the period. Dimensional Fund Advisors LP raised its holdings in 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 during the last quarter. Deutsche Bank AG raised its holdings in Middleby by 22.0% during the fourth quarter. Deutsche Bank AG now owns 35,636 shares of the industrial products company’s stock worth $3,659,000 after buying an additional 6,438 shares during the last quarter. First Manhattan Co. raised its holdings in Middleby by 31.0% during the first quarter. First Manhattan Co. now owns 676 shares of the industrial products company’s stock worth $87,000 after buying an additional 160 shares during the last quarter. Finally, Virtu Financial LLC raised its holdings in Middleby by 60.1% during the first quarter. Virtu Financial LLC now owns 3,458 shares of the industrial products company’s stock worth $450,000 after buying an additional 1,298 shares during the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.

MIDD opened at $109.70 on Thursday. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 17.98 and a beta of 1.60. The firm’s 50-day moving average is $131.90. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.95 and a current ratio of 1.98. Middleby Corp has a fifty-two week low of $96.65 and a fifty-two week high of $142.98.

Middleby (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.07). The business had revenue of $761.00 million for the quarter, compared to the consensus estimate of $774.13 million. Middleby had a return on equity of 21.63% and a net margin of 11.27%. Middleby’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 EPS. Equities analysts predict that Middleby Corp will post 6.58 EPS for the current year.

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

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

Middleby Company 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.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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