The Middleby Corporation (MIDD) Stake Lessened by Disciplined Growth Investors Inc. MN

Disciplined Growth Investors Inc. MN trimmed its holdings in shares of The Middleby Corporation (NASDAQ:MIDD) by 0.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,659,379 shares of the industrial products company’s stock after selling 984 shares during the period. The Middleby Corporation makes up approximately 4.2% of Disciplined Growth Investors Inc. MN’s holdings, making the stock its 2nd largest position. Disciplined Growth Investors Inc. MN owned approximately 2.88% of The Middleby Corporation worth $201,631,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MIDD. Eagle Asset Management Inc. raised its holdings in The Middleby Corporation by 38.3% in the 2nd quarter. Eagle Asset Management Inc. now owns 267,864 shares of the industrial products company’s stock worth $32,548,000 after acquiring an additional 74,120 shares during the last quarter. Financial Counselors Inc. raised its holdings in The Middleby Corporation by 39.7% in the 2nd quarter. Financial Counselors Inc. now owns 14,673 shares of the industrial products company’s stock worth $1,783,000 after acquiring an additional 4,170 shares during the last quarter. Nicholas Company Inc. raised its holdings in The Middleby Corporation by 173.8% in the 2nd quarter. Nicholas Company Inc. now owns 133,945 shares of the industrial products company’s stock worth $16,275,000 after acquiring an additional 85,020 shares during the last quarter. Prudential Financial Inc. raised its holdings in The Middleby Corporation by 117.2% in the 1st quarter. Prudential Financial Inc. now owns 8,340 shares of the industrial products company’s stock worth $1,138,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in The Middleby Corporation by 20.4% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 18,124 shares of the industrial products company’s stock worth $2,202,000 after acquiring an additional 3,072 shares during the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.

In related news, Director Gordon Obrien sold 5,600 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $121.41, for a total transaction of $679,896.00. Following the transaction, the director now directly owns 11,050 shares in the company, valued at $1,341,580.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Miller III sold 8,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the transaction, the director now owns 16,000 shares in the company, valued at $1,896,000. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

The Middleby Corporation (NASDAQ:MIDD) traded up 1.03% during midday trading on Friday, reaching $124.04. 156,594 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $122.74 and its 200-day moving average is $127.90. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 23.23 and a beta of 1.82. The Middleby Corporation has a 12-month low of $108.45 and a 12-month high of $150.87.

The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $579.34 million for the quarter, compared to analyst estimates of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. On average, equities analysts forecast that The Middleby Corporation will post $5.59 earnings per share for the current year.

A number of brokerages recently weighed in on MIDD. Zacks Investment Research lowered shares of The Middleby Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Macquarie upgraded shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Tuesday, August 15th. BMO Capital Markets restated a “buy” rating and issued a $150.00 price objective on shares of The Middleby Corporation in a report on Friday, August 11th. BidaskClub upgraded shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Seaport Global Securities began coverage on shares of The Middleby Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The Middleby Corporation presently has an average rating of “Hold” and a consensus target price of $142.50.

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The Middleby Corporation 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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