The Middleby Corporation (NASDAQ:MIDD) Director John R. Miller III sold 8,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $118.50, for a total transaction of $1,007,250.00. Following the sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of The Middleby Corporation (NASDAQ:MIDD) traded up 1.41% during midday trading on Monday, hitting $118.70. 461,199 shares of the stock were exchanged. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 22.23 and a beta of 1.82. The firm’s 50-day moving average is $124.24 and its 200-day moving average is $131.44. The Middleby Corporation has a 12 month low of $108.45 and a 12 month high of $150.87.

The Middleby Corporation (NASDAQ:MIDD) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $587.49 million. Equities research analysts predict that The Middleby Corporation will post $5.61 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. boosted its position in The Middleby Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,029 shares of the industrial products company’s stock worth $140,000 after buying an additional 9 shares during the period. First National Bank of Hutchinson boosted its position in The Middleby Corporation by 0.4% in the first quarter. First National Bank of Hutchinson now owns 4,706 shares of the industrial products company’s stock worth $642,000 after buying an additional 18 shares during the period. World Asset Management Inc boosted its position in 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 buying an additional 27 shares during the period. 1st Global Advisors Inc. boosted its position in The Middleby Corporation by 0.6% in the second quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock worth $727,000 after buying an additional 34 shares during the period. Finally, Honkamp Krueger Financial Services Inc. boosted its position in The Middleby Corporation by 0.7% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 5,396 shares of the industrial products company’s stock worth $656,000 after buying an additional 35 shares during the period. 95.33% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the stock. Macquarie raised shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Tuesday, August 15th. Robert W. Baird cut their price objective on shares of The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Friday, August 11th. BidaskClub downgraded shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective on shares of The Middleby Corporation in a research report on Friday, August 11th. Finally, Zacks Investment Research downgraded shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The Middleby Corporation presently has an average rating of “Hold” and an average price target 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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