Legacy Capital Partners Inc. decreased its holdings in Middleby Corp (NASDAQ:MIDD) by 1.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 16,219 shares of the industrial products company’s stock after selling 254 shares during the period. Legacy Capital Partners Inc.’s holdings in Middleby were worth $1,896,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. Quantamental Technologies LLC purchased a new position in Middleby in the second quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC purchased a new position in Middleby in the second quarter valued at approximately $66,000. Nisa Investment Advisors LLC raised its holdings in Middleby by 175.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the industrial products company’s stock valued at $149,000 after buying an additional 700 shares during the period. Advisory Services Network LLC raised its holdings in Middleby by 459.4% in the second quarter. Advisory Services Network LLC now owns 1,214 shares of the industrial products company’s stock valued at $165,000 after buying an additional 997 shares during the period. Finally, Eqis Capital Management Inc. purchased a new position in Middleby in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.
In related news, Director Robert A. Nerbonne purchased 455 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $111.21 per share, with a total value of $50,600.55. Following the completion of the transaction, the director now owns 1,282 shares of the company’s stock, valued at $142,571.22. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert A. Nerbonne purchased 450 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $113.85 per share, with a total value of $51,232.50. Following the transaction, the director now directly owns 1,282 shares of the company’s stock, valued at approximately $145,955.70. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.
Middleby (NASDAQ:MIDD) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). Middleby had a net margin of 11.27% and a return on equity of 21.17%. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $774.13 million. During the same period last year, the business earned $1.63 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Research analysts expect that Middleby Corp will post 6.56 EPS for the current fiscal year.
Several research analysts recently commented on the stock. TheStreet lowered shares of Middleby from a “b-” rating to a “c” rating in a report on Thursday, August 29th. Citigroup lowered their price objective on shares of Middleby from $138.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Middleby from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub downgraded shares of Middleby from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. Finally, Buckingham Research set a $153.00 price objective on shares of Middleby and gave the company a “buy” rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $140.57.
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.
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