Bank of New York Mellon Corp reduced its stake in shares of Middleby Corp (NASDAQ:MIDD) by 78.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,170 shares of the industrial products company’s stock after selling 1,135,096 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of Middleby worth $33,015,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fiera Capital Corp grew its position in shares of Middleby by 1.9% in the 2nd quarter. Fiera Capital Corp now owns 2,848,263 shares of the industrial products company’s stock valued at $297,415,000 after purchasing an additional 52,753 shares during the period. Wells Fargo & Company MN grew its position in shares of Middleby by 4.2% in the 1st quarter. Wells Fargo & Company MN now owns 982,950 shares of the industrial products company’s stock valued at $121,679,000 after purchasing an additional 39,340 shares during the period. Russell Investments Group Ltd. grew its position in shares of Middleby by 13.9% in the 1st quarter. Russell Investments Group Ltd. now owns 572,448 shares of the industrial products company’s stock valued at $70,834,000 after purchasing an additional 69,743 shares during the period. Handelsbanken Fonder AB grew its position in shares of Middleby by 41.0% in the 1st quarter. Handelsbanken Fonder AB now owns 516,000 shares of the industrial products company’s stock valued at $63,876,000 after purchasing an additional 150,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Middleby by 6.1% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 420,825 shares of the industrial products company’s stock valued at $52,094,000 after purchasing an additional 24,105 shares during the period.

MIDD has been the subject of several research analyst reports. Citigroup decreased their price objective on Middleby from $120.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, June 8th. BidaskClub upgraded Middleby from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research upgraded Middleby from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 10th. TheStreet lowered Middleby from a “b-” rating to a “c+” rating in a research report on Friday, June 1st. Finally, ValuEngine upgraded Middleby from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $126.57.

NASDAQ MIDD opened at $126.09 on Monday. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 20.47 and a beta of 1.88. The company has a current ratio of 1.94, a quick ratio of 1.06 and a debt-to-equity ratio of 1.37. Middleby Corp has a 52 week low of $98.06 and a 52 week high of $138.89.

Middleby (NASDAQ:MIDD) last released its earnings results on Wednesday, August 8th. The industrial products company reported $1.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.04). The firm had revenue of $668.13 million during the quarter, compared to the consensus estimate of $645.88 million. Middleby had a net margin of 12.07% and a return on equity of 22.52%. The company’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.35 EPS. equities analysts expect that Middleby Corp will post 6.1 EPS for the current year.

Middleby Profile

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 cooking and warming equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

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Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

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