Qsemble Capital Management LP Invests $256,000 in The Middleby Co. (NASDAQ:MIDD)

Qsemble Capital Management LP purchased a new stake in The Middleby Co. (NASDAQ:MIDD) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,087 shares of the industrial products company’s stock, valued at approximately $256,000.

A number of other institutional investors also recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in shares of Middleby during the first quarter worth $25,000. Allspring Global Investments Holdings LLC grew its position in shares of Middleby by 1,246.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 175 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Middleby by 97.7% during the 2nd 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. Crewe Advisors LLC boosted its stake in Middleby by 620.0% in the 1st quarter. Crewe Advisors LLC now owns 360 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 310 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Middleby during the 1st quarter valued at about $63,000. 98.55% of the stock is currently owned by hedge funds and other institutional investors.

Middleby Trading Up 3.7 %

Shares of MIDD stock opened at $132.80 on Friday. The firm has a market cap of $7.14 billion, a P/E ratio of 18.50 and a beta of 1.58. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 0.69. The Middleby Co. has a 12-month low of $109.59 and a 12-month high of $161.01. The business has a 50-day moving average price of $134.14 and a two-hundred day moving average price of $137.47.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, August 1st. The industrial products company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $991.55 million during the quarter, compared to analysts’ expectations of $994.05 million. Middleby had a return on equity of 15.25% and a net margin of 9.90%. Middleby’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.47 EPS. Equities analysts anticipate that The Middleby Co. will post 9.66 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Middleby from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on shares of Middleby from $155.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $164.00 price objective on shares of Middleby in a research report on Saturday. Raymond James initiated coverage on Middleby in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, KeyCorp lowered their price target on Middleby from $175.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

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.