CI Global Investments Inc. grew its position in The Middleby Corporation (NASDAQ:MIDD) by 42.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,122,025 shares of the industrial products company’s stock after purchasing an additional 631,770 shares during the period. The Middleby Corporation comprises about 5.5% of CI Global Investments Inc.’s holdings, making the stock its 5th largest position. CI Global Investments Inc. owned approximately 3.68% of The Middleby Corporation worth $271,980,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp increased its position in The Middleby Corporation by 15.3% in the 2nd quarter. Stifel Financial Corp now owns 8,402 shares of the industrial products company’s stock worth $1,017,000 after purchasing an additional 1,113 shares during the last quarter. Arcadia Investment Management Corp MI increased its holdings in shares of The Middleby Corporation by 1.1% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 42,548 shares of the industrial products company’s stock valued at $5,453,000 after acquiring an additional 470 shares during the last quarter. Nicholas Company Inc. increased its holdings in shares of The Middleby Corporation by 173.8% during the 2nd quarter. Nicholas Company Inc. now owns 133,945 shares of the industrial products company’s stock valued at $16,275,000 after acquiring an additional 85,020 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of The Middleby Corporation by 38.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 267,864 shares of the industrial products company’s stock valued at $32,548,000 after acquiring an additional 74,120 shares during the last quarter. Finally, Financial Counselors Inc. increased its holdings in shares of The Middleby Corporation by 39.7% during the 2nd quarter. Financial Counselors Inc. now owns 14,673 shares of the industrial products company’s stock valued at $1,783,000 after acquiring an additional 4,170 shares during the last quarter. 95.03% of the stock is currently owned by institutional investors.

Shares of The Middleby Corporation (NASDAQ MIDD) traded down $0.68 during trading hours on Tuesday, reaching $109.16. The company had a trading volume of 763,600 shares, compared to its average volume of 441,927. The Middleby Corporation has a 1 year low of $107.68 and a 1 year high of $150.87. The company has a market cap of $6,141.47, a P/E ratio of 20.27 and a beta of 1.87. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.04 and a current ratio of 1.99.

In related news, Director John R. Miller III sold 8,500 shares of the stock in a transaction that occurred on 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 owns 16,000 shares in the company, valued at approximately $1,896,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gordon Obrien sold 5,600 shares of the stock in a transaction that occurred on 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 approximately $1,341,580.50. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on the company. Citigroup Inc. lowered their price objective on The Middleby Corporation from $132.00 to $120.00 and set a “neutral” rating on the stock in a report on Friday. BMO Capital Markets lowered their price objective on The Middleby Corporation from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Zacks Investment Research raised The Middleby Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Susquehanna Bancshares Inc assumed coverage on The Middleby Corporation in a report on Wednesday, September 27th. They set a “positive” rating and a $141.00 price objective on the stock. Finally, Macquarie raised The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price objective on the stock in a report on Tuesday, August 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $140.63.

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About The Middleby Corporation

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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