Heartland Advisors Inc. Has $9.46 Million Position in The Middleby Corporation $MIDD

Heartland Advisors Inc. lessened its position in The Middleby Corporation (NASDAQ:MIDD) by 14.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,164 shares of the industrial products company’s stock after selling 12,085 shares during the quarter. Heartland Advisors Inc.’s holdings in Middleby were worth $9,460,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MIDD. Allworth Financial LP raised its holdings 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. Police & Firemen s Retirement System of New Jersey grew its position in Middleby by 0.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 19,358 shares of the industrial products company’s stock valued at $2,788,000 after purchasing an additional 131 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Middleby by 7.8% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,900 shares of the industrial products company’s stock valued at $253,000 after buying an additional 138 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Middleby by 1.6% during the 2nd quarter. Hantz Financial Services Inc. now owns 10,193 shares of the industrial products company’s stock worth $1,468,000 after buying an additional 161 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Middleby by 0.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 18,176 shares of the industrial products company’s stock worth $2,416,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 98.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MIDD. Zacks Research lowered Middleby from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. JPMorgan Chase & Co. increased their price objective on Middleby from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Canaccord Genuity Group boosted their target price on shares of Middleby from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Middleby in a research report on Monday, December 29th. Finally, Barclays set a $168.00 price objective on shares of Middleby and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.83.

Middleby Trading Down 0.1%

Shares of MIDD stock opened at $163.93 on Tuesday. The Middleby Corporation has a fifty-two week low of $110.82 and a fifty-two week high of $182.73. The stock’s fifty day moving average price is $151.65 and its two-hundred day moving average price is $137.54. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 2.07. The company has a market cap of $8.26 billion, a PE ratio of -37.26 and a beta of 1.40.

Insiders Place Their Bets

In related news, Director Robert A. Nerbonne bought 780 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was purchased at an average price of $128.52 per share, with a total value of $100,245.60. Following the completion of the acquisition, the director owned 21,471 shares of the company’s stock, valued at $2,759,452.92. The trade was a 3.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.18% of the stock is owned by company insiders.

Middleby Company 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.