Olstein Capital Management L.P. Purchases 2,000 Shares of The Middleby Co. (NASDAQ:MIDD)

Olstein Capital Management L.P. grew its position in shares of The Middleby Co. (NASDAQ:MIDD) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,500 shares of the industrial products company’s stock after purchasing an additional 2,000 shares during the period. Middleby comprises about 1.6% of Olstein Capital Management L.P.’s holdings, making the stock its 13th largest holding. Olstein Capital Management L.P. owned approximately 0.13% of Middleby worth $9,530,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. grew its holdings in shares of Middleby by 15.4% during the 2nd quarter. Select Equity Group L.P. now owns 6,360,288 shares of the industrial products company’s stock worth $779,835,000 after acquiring an additional 846,884 shares during the period. Vanguard Group Inc. grew its holdings in shares of Middleby by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,113,286 shares of the industrial products company’s stock worth $822,165,000 after acquiring an additional 15,798 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Middleby by 1.0% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,998,522 shares of the industrial products company’s stock worth $321,342,000 after acquiring an additional 20,511 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Middleby by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,450,221 shares of the industrial products company’s stock worth $233,182,000 after acquiring an additional 11,552 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Middleby by 11,853.1% during the 2nd quarter. Pacer Advisors Inc. now owns 967,365 shares of the industrial products company’s stock worth $118,609,000 after acquiring an additional 959,272 shares during the period. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Down 1.0 %

MIDD stock traded down $1.47 during midday trading on Thursday, hitting $142.16. The company’s stock had a trading volume of 40,641 shares, compared to its average volume of 502,662. The company has a market cap of $7.64 billion, a PE ratio of 19.81 and a beta of 1.58. The Middleby Co. has a 12 month low of $113.77 and a 12 month high of $161.01. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average is $136.84 and its 200-day moving average is $133.60.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.48 by ($0.15). The company had revenue of $942.81 million during the quarter, compared to analysts’ expectations of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $2.35 earnings per share. On average, equities research analysts forecast that The Middleby Co. will post 9.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MIDD has been the topic of a number of research analyst reports. Robert W. Baird upped their target price on Middleby from $155.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. KeyCorp reduced their target price on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on Middleby from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Friday, August 2nd. Finally, Canaccord Genuity Group dropped their price target on Middleby from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $154.67.

Middleby Company Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.