MetLife Investment Management LLC Sells 522 Shares of The Middleby Co. (NASDAQ:MIDD)

MetLife Investment Management LLC decreased its holdings in The Middleby Co. (NASDAQ:MIDD) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,782 shares of the industrial products company’s stock after selling 522 shares during the period. MetLife Investment Management LLC’s holdings in Middleby were worth $3,865,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP raised its stake in Middleby by 133.3% in 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 during the period. GAMMA Investing LLC raised its position in shares of Middleby by 97.7% in the second quarter. GAMMA Investing LLC now owns 255 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 126 shares during the period. Covestor Ltd lifted its stake in shares of Middleby by 306.5% during the 3rd quarter. Covestor Ltd now owns 252 shares of the industrial products company’s stock worth $35,000 after buying an additional 190 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Middleby by 93.2% during the 3rd quarter. UMB Bank n.a. now owns 282 shares of the industrial products company’s stock worth $39,000 after buying an additional 136 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Middleby in the 2nd quarter valued at about $45,000. 98.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MIDD shares. Canaccord Genuity Group restated a “buy” rating and set a $164.00 price objective on shares of Middleby in a report on Saturday, September 14th. StockNews.com raised Middleby from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Canaccord Genuity Group dropped their target price on Middleby from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.67.

Middleby Stock Down 0.9 %

Shares of NASDAQ MIDD opened at $142.06 on Tuesday. The stock has a market capitalization of $7.64 billion, a P/E ratio of 19.59 and a beta of 1.58. The stock’s fifty day moving average is $138.04 and its 200 day moving average is $133.54. The Middleby Co. has a 52 week low of $118.41 and a 52 week high of $161.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.70 and a current ratio of 2.81.

Middleby (NASDAQ:MIDD) last issued its earnings results 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 firm had revenue of $942.81 million during the quarter, compared to analyst estimates of $996.60 million. Middleby had a net margin of 10.14% and a return on equity of 14.66%. Middleby’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Sell-side analysts forecast that The Middleby Co. will post 9.12 earnings per share for the current fiscal year.

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.