BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in The Middleby Corporation (NASDAQ:MIDD) by 33.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,595 shares of the industrial products company’s stock after selling 7,762 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Middleby Corporation were worth $1,895,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can raised its stake in 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 valued at $5,213,000 after buying an additional 19,899 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in The Middleby Corporation by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,535 shares of the industrial products company’s stock valued at $196,000 after buying an additional 46 shares in the last quarter. Korea Investment CORP acquired a new stake in The Middleby Corporation during the first quarter valued at about $1,023,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in The Middleby Corporation by 15.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,654 shares of the industrial products company’s stock valued at $635,000 after buying an additional 612 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its stake in The Middleby Corporation by 1.0% in the first quarter. Arcadia Investment Management Corp MI now owns 34,694 shares of the industrial products company’s stock valued at $4,734,000 after buying an additional 329 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Shares of The Middleby Corporation (MIDD) opened at 117.05 on Friday. The Middleby Corporation has a 52 week low of $108.45 and a 52 week high of $150.87. The company has a market cap of $6.74 billion, a price-to-earnings ratio of 21.92 and a beta of 1.82. The firm’s 50-day moving average price is $124.24 and its 200 day moving average price is $131.44.

The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $579.34 million during the quarter, compared to analysts’ expectations of $587.49 million. On average, equities research analysts forecast that The Middleby Corporation will post $5.61 EPS for the current year.

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MIDD has been the subject of several research analyst reports. Zacks Investment Research lowered The Middleby Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 12th. BMO Capital Markets reissued 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. BidaskClub lowered The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, June 23rd. Seaport Global Securities initiated coverage on The Middleby Corporation in a research note on Thursday, June 29th. They set a “neutral” rating and a $128.00 price objective for the company. Finally, Wellington Shields raised 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, four have assigned a hold rating and four have given a buy rating to the stock. The Middleby Corporation presently has an average rating of “Hold” and an average target price of $141.71.

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

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