Olstein Capital Management L.P. Has $9.62 Million Holdings in The Middleby Co. (NASDAQ:MIDD)

Olstein Capital Management L.P. grew its holdings in shares of The Middleby Co. (NASDAQ:MIDD) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,000 shares of the industrial products company’s stock after buying an additional 2,500 shares during the period. Middleby accounts for about 1.7% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 9th biggest holding. Olstein Capital Management L.P. owned 0.13% of Middleby worth $9,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP raised its stake in Middleby by 133.3% during the 2nd quarter. Quarry LP now owns 231 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 132 shares in the last quarter. Covestor Ltd increased its holdings in shares of Middleby by 306.5% during the third quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 190 shares during the period. UMB Bank n.a. raised its stake in shares of Middleby by 93.2% during the third quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 136 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Middleby by 820.0% in the third quarter. Avior Wealth Management LLC now owns 322 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 287 shares during the period. Finally, GAMMA Investing LLC grew its position in Middleby by 91.8% in the 3rd quarter. GAMMA Investing LLC now owns 489 shares of the industrial products company’s stock valued at $68,000 after buying an additional 234 shares in the last quarter. 98.55% of the stock is currently owned by institutional investors and hedge funds.

Middleby Trading Up 16.5 %

Shares of NASDAQ:MIDD opened at $169.72 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 23.41 and a beta of 1.61. The Middleby Co. has a 1-year low of $118.41 and a 1-year high of $169.92. The company has a 50 day moving average price of $139.56 and a 200 day moving average price of $137.35.

Middleby (NASDAQ:MIDD) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.48 by ($0.15). The company had revenue of $942.81 million for the quarter, compared to the consensus estimate of $996.60 million. Middleby had a return on equity of 14.66% and a net margin of 10.14%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share. On average, research analysts anticipate that The Middleby Co. will post 9.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Canaccord Genuity Group restated a “buy” rating and set a $155.00 price target on shares of Middleby in a research report on Friday, December 20th. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $154.67.

About Middleby

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.