Prudential Financial Inc. cut its holdings in The Middleby Corporation (NASDAQ:MIDD) by 81.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,970 shares of the industrial products company’s stock after selling 17,600 shares during the quarter. Prudential Financial Inc.’s holdings in The Middleby were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. World Asset Management Inc lifted its stake in The Middleby 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 acquiring an additional 27 shares in the last quarter. 1st Global Advisors Inc. lifted its stake in The Middleby by 0.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,979 shares of the industrial products company’s stock valued at $727,000 after acquiring an additional 34 shares in the last quarter. Albion Financial Group UT lifted its stake in The Middleby by 1.3% in the 2nd quarter. Albion Financial Group UT now owns 3,179 shares of the industrial products company’s stock valued at $386,000 after acquiring an additional 40 shares in the last quarter. Renaissance Group LLC raised its stake in shares of The Middleby by 2.6% during the 2nd quarter. Renaissance Group LLC now owns 2,635 shares of the industrial products company’s stock worth $320,000 after purchasing an additional 67 shares in the last quarter. Finally, NGAM Advisors L.P. raised its stake in shares of The Middleby by 0.5% during the 2nd quarter. NGAM Advisors L.P. now owns 14,470 shares of the industrial products company’s stock worth $1,758,000 after purchasing an additional 72 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

The Middleby Corporation (NASDAQ:MIDD) opened at $125.61 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.93 and a debt-to-equity ratio of 0.72. The Middleby Corporation has a 1-year low of $107.53 and a 1-year high of $150.87. The company has a market capitalization of $7,023.22, a price-to-earnings ratio of 23.17 and a beta of 1.89.

The Middleby declared that its Board of Directors has approved a share repurchase plan on Tuesday, November 14th that permits the company to repurchase 2,500,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other The Middleby news, Director Gordon Obrien sold 5,600 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 11,050 shares of the company’s stock, valued at approximately $1,341,580.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

A number of brokerages have recently issued reports on MIDD. Deutsche Bank dropped their price objective on The Middleby from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, November 17th. Macquarie upgraded The Middleby from a “neutral” rating to an “outperform” rating and set a $150.00 price objective on the stock in a research note on Tuesday, August 15th. BMO Capital Markets reiterated a “buy” rating and set a $150.00 price objective on shares of The Middleby in a research note on Wednesday, November 8th. Zacks Investment Research upgraded The Middleby from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Citigroup reiterated a “neutral” rating and set a $130.00 price objective on shares of The Middleby in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $137.22.

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About The Middleby

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 (NASDAQ:MIDD)

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