Bank of Montreal Can Lowers Position in The Middleby Corporation (MIDD)

Bank of Montreal Can decreased its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 43.5% during the second quarter, Holdings Channel reports. The fund owned 21,581 shares of the industrial products company’s stock after selling 16,634 shares during the period. Bank of Montreal Can’s holdings in The Middleby Corporation were worth $2,623,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC raised its stake in The Middleby Corporation by 11.9% in the fourth quarter. Guggenheim Capital LLC now owns 4,006 shares of the industrial products company’s stock valued at $516,000 after buying an additional 426 shares during the last quarter. Teachers Advisors LLC raised its stake in The Middleby Corporation by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 179,050 shares of the industrial products company’s stock valued at $23,063,000 after buying an additional 3,180 shares during the last quarter. Macquarie Group Ltd. raised its stake in The Middleby Corporation by 0.8% in the fourth quarter. Macquarie Group Ltd. now owns 35,700 shares of the industrial products company’s stock valued at $4,598,000 after buying an additional 300 shares during the last quarter. Creative Planning raised its stake in The Middleby Corporation by 1.6% in the first quarter. Creative Planning now owns 4,742 shares of the industrial products company’s stock valued at $647,000 after buying an additional 76 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in The Middleby Corporation by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 17,850 shares of the industrial products company’s stock valued at $2,435,000 after buying an additional 100 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

Shares of The Middleby Corporation (NASDAQ MIDD) traded down 3.76% on Thursday, hitting $122.00. The company had a trading volume of 751,441 shares. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 23.19 and a beta of 1.82. The stock’s 50-day moving average is $125.62 and its 200 day moving average is $132.80.

The Middleby Corporation (NASDAQ:MIDD) last issued its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The company had revenue of $530.30 million for the quarter, compared to analyst estimates of $542.50 million. Equities analysts expect that The Middleby Corporation will post $5.67 EPS for the current year.

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Several equities research analysts have recently commented on MIDD shares. Zacks Investment Research lowered shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of The Middleby Corporation in a research report on Wednesday, May 17th. BidaskClub downgraded The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Seaport Global Securities assumed coverage on The Middleby Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $128.00 price objective for the company. Finally, Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The Middleby Corporation has a consensus rating of “Hold” and a consensus price target of $141.67.

The Middleby Corporation 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.

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Institutional Ownership by Quarter for The Middleby Corporation (NASDAQ:MIDD)

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