Parametric Portfolio Associates LLC Acquires 53,977 Shares of Middleby Corp (MIDD)

Parametric Portfolio Associates LLC boosted its stake in Middleby Corp (NASDAQ:MIDD) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 395,499 shares of the industrial products company’s stock after purchasing an additional 53,977 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.71% of Middleby worth $50,691,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MIDD. 1st Global Advisors Inc. grew its position in shares of Middleby by 0.6% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock valued at $727,000 after acquiring an additional 34 shares during the period. Albion Financial Group UT boosted its holdings in Middleby by 1.3% in the 2nd quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock worth $386,000 after buying an additional 40 shares during the period. Renaissance Group LLC boosted its holdings in Middleby by 2.6% in the 2nd quarter. Renaissance Group LLC now owns 2,635 shares of the industrial products company’s stock worth $320,000 after buying an additional 67 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in Middleby by 9.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,124 shares of the industrial products company’s stock worth $137,000 after buying an additional 95 shares during the period. Finally, IFP Advisors Inc lifted its stake in Middleby by 10.5% in the 2nd quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 98 shares in the last quarter. 99.08% of the stock is owned by institutional investors and hedge funds.

Shares of Middleby Corp (NASDAQ:MIDD) traded up $2.13 during mid-day trading on Thursday, reaching $133.71. 367,133 shares of the company’s stock were exchanged, compared to its average volume of 406,929. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.93 and a quick ratio of 1.02. Middleby Corp has a twelve month low of $107.53 and a twelve month high of $150.87. The company has a market cap of $7,480.00, a P/E ratio of 25.13 and a beta of 1.88.

Middleby declared that its board has initiated a share buyback plan on Tuesday, November 14th that allows the company to buyback 2,500,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, Treasurer Martin M. Lindsay sold 10,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the treasurer now directly owns 61,726 shares in the company, valued at $7,993,517. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

MIDD has been the topic of several recent research reports. Citigroup decreased their target price on shares of Middleby from $132.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, November 10th. Susquehanna Bancshares initiated coverage on shares of Middleby in a research report on Wednesday, September 27th. They set a “positive” rating and a $141.00 target price on the stock. BidaskClub cut shares of Middleby from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research cut shares of Middleby from a “hold” rating to a “sell” rating in a research report on Tuesday, September 19th. Finally, BMO Capital Markets decreased their target price on shares of Middleby from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $138.56.

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Middleby Company Profile

The Middleby Corporation is engaged in the design, manufacture and sale of commercial foodservice, food processing equipment and residential kitchen equipment. The Company operates in three segments: the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group.

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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