Harbor Spring Capital LLC bought a new stake in shares of The Middleby Corporation (NASDAQ:MIDD) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 301,332 shares of the industrial products company’s stock, valued at approximately $36,615,000. The Middleby Corporation accounts for about 4.4% of Harbor Spring Capital LLC’s investment portfolio, making the stock its 15th largest position. Harbor Spring Capital LLC owned about 0.52% of The Middleby Corporation as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MIDD. World Asset Management Inc lifted its stake in shares of The Middleby Corporation by 1.1% in the 2nd quarter. World Asset Management Inc now owns 2,591 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 27 shares during the period. Honkamp Krueger Financial Services Inc. boosted its holdings in The Middleby Corporation by 0.7% during 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 in the last quarter. LS Investment Advisors LLC boosted its holdings in The Middleby Corporation by 4.7% during the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after buying an additional 48 shares in the last quarter. Van ECK Associates Corp boosted its holdings in The Middleby Corporation by 7.7% during the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock worth $106,000 after buying an additional 56 shares in the last quarter. Finally, Renaissance Group LLC grew its position in The Middleby Corporation by 2.6% during the second quarter. Renaissance Group LLC now owns 2,635 shares of the industrial products company’s stock valued at $320,000 after buying an additional 67 shares during the period. Institutional investors own 95.23% of the company’s stock.

The Middleby Corporation (NASDAQ:MIDD) traded up 0.94% on Tuesday, hitting $127.20. 113,965 shares of the company traded hands. The Middleby Corporation has a 12 month low of $108.45 and a 12 month high of $150.87. The stock has a market cap of $7.33 billion, a PE ratio of 23.82 and a beta of 1.82. The stock’s 50-day moving average is $120.79 and its 200 day moving average is $128.39.

The Middleby Corporation (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.01. The firm had revenue of $579.34 million during the quarter, compared to analysts’ expectations of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. Equities research analysts expect that The Middleby Corporation will post $5.59 earnings per share for the current fiscal year.

In other news, Director John R. Miller III sold 8,500 shares of the business’s 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 sale, the director now owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gordon Obrien sold 5,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total value of $679,896.00. Following the sale, the director now directly owns 11,050 shares in the company, valued at approximately $1,341,580.50. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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A number of research firms have weighed in on MIDD. BMO Capital Markets reaffirmed a “buy” rating and issued a $150.00 price objective on shares of The Middleby Corporation in a report on Friday, August 11th. Zacks Investment Research raised shares of The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Tuesday, July 18th. Wellington Shields upgraded The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Tuesday, July 11th. Seaport Global Securities assumed coverage on The Middleby Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $128.00 price target for the company. Finally, Citigroup Inc. restated a “neutral” rating and issued a $130.00 price target on shares of The Middleby Corporation in a research note on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The Middleby Corporation has a consensus rating of “Hold” and a consensus price target of $142.50.

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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