Logan Capital Management Inc. lessened its holdings in The Middleby Corporation (NASDAQ:MIDD) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,145 shares of the industrial products company’s stock after selling 3,753 shares during the period. Logan Capital Management Inc. owned approximately 0.16% of The Middleby Corporation worth $11,075,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MIDD. World Asset Management Inc grew its stake in shares of The Middleby Corporation by 1.1% in the second quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 27 shares in the last quarter. Honkamp Krueger Financial Services Inc. increased its position in shares of The Middleby Corporation by 0.7% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock worth $656,000 after acquiring an additional 35 shares during the period. LS Investment Advisors LLC increased its position in shares of The Middleby Corporation by 4.7% during the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 48 shares during the period. Van ECK Associates Corp increased its position in shares of The Middleby Corporation by 7.7% during the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 56 shares during the period. Finally, Renaissance Group LLC increased its position in shares of The Middleby Corporation by 2.6% during the second quarter. Renaissance Group LLC now owns 2,635 shares of the industrial products company’s stock worth $320,000 after acquiring an additional 67 shares during the period. 95.23% of the stock is owned by institutional investors.

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Several brokerages have recently issued reports on MIDD. BidaskClub cut The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Robert W. Baird lowered their target price on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $150.00 target price on shares of The Middleby Corporation in a research note on Friday, August 11th. Zacks Investment Research upgraded The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 price target on the stock in a report on Tuesday, July 18th. Finally, Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $142.50.

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

The Middleby Corporation (NASDAQ:MIDD) traded down 1.70% during midday trading on Monday, hitting $125.99. 108,613 shares of the stock traded hands. The company has a market cap of $7.26 billion, a PE ratio of 23.60 and a beta of 1.82. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87. The company’s 50-day moving average is $121.60 and its 200-day moving average is $129.31.

The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.01. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. The business had revenue of $579.34 million during the quarter, compared to analyst estimates of $587.49 million. Equities research analysts expect that The Middleby Corporation will post $5.59 EPS for the current fiscal year.

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.

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

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