3,512 Shares in The Middleby Corporation (MIDD) Acquired by Alpine Global Management LLC

Alpine Global Management LLC bought a new position in shares of The Middleby Corporation (NASDAQ:MIDD) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,512 shares of the industrial products company’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. World Asset Management Inc increased its position in shares of 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 valued at $315,000 after acquiring an additional 27 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its position in shares of 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 valued at $656,000 after acquiring an additional 35 shares during the last quarter. LS Investment Advisors LLC increased 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 valued at $130,000 after acquiring an additional 48 shares during the last quarter. Van ECK Associates Corp increased its position in shares of The Middleby Corporation by 7.7% in the first quarter. Van ECK Associates Corp now owns 780 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 56 shares during the last quarter. Finally, Renaissance Group LLC increased its position in shares of The Middleby Corporation by 2.6% in the second quarter. Renaissance Group LLC now owns 2,635 shares of the industrial products company’s stock valued at $320,000 after acquiring an additional 67 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of The Middleby Corporation (NASDAQ MIDD) traded down 0.69% during mid-day trading on Tuesday, reaching $121.80. 98,272 shares of the company’s stock were exchanged. The Middleby Corporation has a one year low of $108.45 and a one year high of $150.87. The company has a 50 day moving average price of $123.18 and a 200-day moving average price of $127.68. The stock has a market cap of $7.02 billion, a PE ratio of 22.81 and a beta of 1.82.

The Middleby Corporation (NASDAQ:MIDD) last released its 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 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, analysts predict that The Middleby Corporation will post $5.59 EPS for the current year.

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

A number of equities research analysts have recently issued reports on MIDD shares. BidaskClub cut The Middleby Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Robert W. Baird cut their target price on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. BMO Capital Markets restated a “buy” rating and set a $150.00 target price on shares of The Middleby Corporation in a research note on Friday, August 11th. Zacks Investment Research upgraded The Middleby Corporation from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Tuesday, July 18th. Finally, Wellington Shields upgraded shares of The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Two research 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 stock has a consensus rating of “Hold” and a consensus target price of $142.50.

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.

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

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