Welch & Forbes LLC increased its position in shares of The Middleby Corporation (NASDAQ:MIDD) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,346 shares of the industrial products company’s stock after buying an additional 16,393 shares during the period. Welch & Forbes LLC owned 0.29% of The Middleby Corporation worth $19,969,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MIDD. Alta Capital Management LLC increased its stake in shares of The Middleby Corporation by 1.4% in the first quarter. Alta Capital Management LLC now owns 365,450 shares of the industrial products company’s stock worth $49,865,000 after buying an additional 4,986 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of The Middleby Corporation during the first quarter worth $491,000. Atria Investments LLC increased its stake in shares of The Middleby Corporation by 3.1% in the first quarter. Atria Investments LLC now owns 2,943 shares of the industrial products company’s stock worth $402,000 after buying an additional 88 shares in the last quarter. Weybosset Research & Management LLC increased its stake in shares of The Middleby Corporation by 0.6% in the first quarter. Weybosset Research & Management LLC now owns 42,671 shares of the industrial products company’s stock worth $5,822,000 after buying an additional 272 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of The Middleby Corporation by 108.6% in the first quarter. Bank of Montreal Can now owns 38,215 shares of the industrial products company’s stock worth $5,213,000 after buying an additional 19,899 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of The Middleby Corporation (NASDAQ:MIDD) opened at 129.77 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 24.67 and a beta of 1.82. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The company has a 50-day moving average of $125.96 and a 200-day moving average of $132.97.
The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings results on Tuesday, May 9th. The industrial products company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.12. The Middleby Corporation had a return on equity of 23.45% and a net margin of 13.16%. The business had revenue of $530.30 million during the quarter, compared to the consensus estimate of $542.50 million. On average, analysts anticipate that The Middleby Corporation will post $5.67 EPS for the current year.
TRADEMARK VIOLATION WARNING: “The Middleby Corporation (NASDAQ:MIDD) Stake Boosted by Welch & Forbes LLC” was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another domain, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this article can be read at https://stocknewstimes.com/2017/08/04/the-middleby-corporation-nasdaqmidd-stake-boosted-by-welch-forbes-llc.html.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of The Middleby Corporation in a research note on Wednesday, May 17th. BidaskClub raised shares of The Middleby Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Seaport Global Securities assumed coverage on shares of The Middleby Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $128.00 target price on the stock. Finally, Wellington Shields raised shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The Middleby Corporation has an average rating of “Hold” and a consensus price target of $141.67.
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.
Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Middleby Corporation (NASDAQ:MIDD).
Receive News & Ratings for The Middleby Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Middleby Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
