The Middleby Corporation (MIDD) Director Sells $679,896.00 in Stock

The Middleby Corporation (NASDAQ:MIDD) Director Gordon Obrien sold 5,600 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $121.41, for a total transaction of $679,896.00. Following the transaction, the director now owns 11,050 shares in the company, valued at $1,341,580.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

The Middleby Corporation (MIDD) opened at 120.42 on Friday. The firm has a 50-day moving average of $122.08 and a 200 day moving average of $129.71. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 22.55 and a beta of 1.81. 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 issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million. The Middleby Corporation had a net margin of 13.38% and a return on equity of 23.05%. On average, equities analysts predict that The Middleby Corporation will post $5.61 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in shares of 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. Bronfman E.L. Rothschild L.P. grew its holdings in shares of The Middleby Corporation by 0.9% during 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 in the last quarter. IFP Advisors Inc boosted its position in shares of The Middleby Corporation by 10.5% in the second quarter. IFP Advisors Inc now owns 1,031 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 98 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of The Middleby Corporation by 4.7% in the second quarter. LS Investment Advisors LLC now owns 1,072 shares of the industrial products company’s stock worth $130,000 after acquiring an additional 48 shares during the last quarter. Finally, Fiduciary Trust Co. acquired a new stake in shares of The Middleby Corporation in the second quarter worth approximately $143,000. Institutional investors and hedge funds own 95.34% of the company’s stock.

MIDD has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of The Middleby Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Wellington Shields upgraded shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a research report on Tuesday, July 11th. BidaskClub lowered shares of The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. BMO Capital Markets reiterated a “buy” rating and issued a $150.00 target price (down from $155.00) on shares of The Middleby Corporation in a report on Friday, June 23rd. Finally, Macquarie upgraded shares of The Middleby Corporation from a “neutral” rating to an “outperform” rating and set a $150.00 target price on the stock in a report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $142.71.

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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