The Middleby Corporation (MIDD) Stake Raised by Van ECK Associates Corp
Van ECK Associates Corp boosted its stake in The Middleby Corporation (NASDAQ:MIDD) by 7.7% during the first quarter, Holdings Channel reports. The firm owned 780 shares of the industrial products company’s stock after buying an additional 56 shares during the period. Van ECK Associates Corp’s holdings in The Middleby Corporation were worth $106,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of MIDD. Comerica Bank raised its position in The Middleby Corporation by 6.0% in the fourth quarter. Comerica Bank now owns 20,992 shares of the industrial products company’s stock valued at $2,833,000 after buying an additional 1,196 shares during the period. Macquarie Group Ltd. raised its position in The Middleby Corporation by 0.8% in the fourth quarter. Macquarie Group Ltd. now owns 35,700 shares of the industrial products company’s stock valued at $4,598,000 after buying an additional 300 shares during the period. Congress Asset Management Co. MA purchased a new position in The Middleby Corporation during the fourth quarter valued at approximately $53,661,000. RMB Capital Management LLC raised its position in The Middleby Corporation by 6.1% in the fourth quarter. RMB Capital Management LLC now owns 119,988 shares of the industrial products company’s stock valued at $15,456,000 after buying an additional 6,857 shares during the period. Finally, Janus Capital Management LLC raised its position in The Middleby Corporation by 3.6% in the fourth quarter. Janus Capital Management LLC now owns 730,372 shares of the industrial products company’s stock valued at $94,079,000 after buying an additional 25,239 shares during the period. Hedge funds and other institutional investors own 95.55% of the company’s stock.
The Middleby Corporation (NASDAQ MIDD) traded down 0.56% during mid-day trading on Friday, reaching $131.17. 285,463 shares of the company’s stock traded hands. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The stock has a market capitalization of $7.55 billion, a PE ratio of 24.94 and a beta of 1.74. The stock’s 50 day moving average is $132.71 and its 200-day moving average is $134.95.
The Middleby Corporation (NASDAQ:MIDD) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The Middleby Corporation had a net margin of 13.16% and a return on equity of 23.45%. The company had revenue of $530.30 million for the quarter, compared to analysts’ expectations of $542.50 million. On average, equities analysts anticipate that The Middleby Corporation will post $5.72 EPS for the current year.
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Several research analysts recently commented on MIDD shares. Zacks Investment Research upgraded shares of The Middleby Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, March 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of The Middleby Corporation in a research note on Wednesday, May 17th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $144.00.
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.
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