Virtu Financial LLC Takes $639,000 Position in The Middleby Co. (NASDAQ:MIDD)

Virtu Financial LLC purchased a new stake in The Middleby Co. (NASDAQ:MIDD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,594 shares of the industrial products company’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. Cetera Advisors LLC grew its holdings in shares of Middleby by 13.7% during the first quarter. Cetera Advisors LLC now owns 1,560 shares of the industrial products company’s stock valued at $251,000 after buying an additional 188 shares during the last quarter. SG Americas Securities LLC increased its holdings in Middleby by 319.7% during the 2nd quarter. SG Americas Securities LLC now owns 10,979 shares of the industrial products company’s stock worth $1,346,000 after purchasing an additional 8,363 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Middleby in the second quarter worth approximately $225,000. Blue Trust Inc. lifted its holdings in shares of Middleby by 4.8% in the second quarter. Blue Trust Inc. now owns 2,022 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 93 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Middleby by 2.9% during the second quarter. Boston Trust Walden Corp now owns 44,866 shares of the industrial products company’s stock valued at $5,501,000 after buying an additional 1,275 shares during the last quarter. Institutional investors own 98.55% of the company’s stock.

Middleby Stock Performance

Shares of MIDD stock opened at $138.75 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 firm has a market cap of $7.46 billion, a price-to-earnings ratio of 19.14 and a beta of 1.60. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The firm’s 50-day simple moving average is $138.68 and its two-hundred day simple moving average is $134.44.

Middleby (NASDAQ:MIDD) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.15). Middleby had a return on equity of 14.66% and a net margin of 10.14%. The company had revenue of $942.81 million during the quarter, compared to the consensus estimate of $996.60 million. During the same period last year, the firm posted $2.35 EPS. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current year.

Analyst Ratings Changes

MIDD has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their price target on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Canaccord Genuity Group reissued a “buy” rating and set a $164.00 price target on shares of Middleby in a research report on Saturday, September 14th. Jefferies Financial Group restated a “hold” rating and set a $160.00 price target (down from $170.00) on shares of Middleby in a report on Thursday. Finally, StockNews.com raised shares of Middleby from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Middleby presently has an average rating of “Hold” and a consensus 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.