Price T Rowe Associates Inc. MD Has $42.96 Million Stake in Middleby Corp (NASDAQ:MIDD)

Price T Rowe Associates Inc. MD trimmed its position in shares of Middleby Corp (NASDAQ:MIDD) by 38.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,584 shares of the industrial products company’s stock after selling 198,932 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Middleby were worth $42,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. lifted its holdings in shares of Middleby by 3.2% during the 2nd quarter. Prudential Financial Inc. now owns 3,200 shares of the industrial products company’s stock valued at $434,000 after buying an additional 100 shares during the last quarter. Bank of Hawaii lifted its holdings in shares of Middleby by 1.1% during the 2nd quarter. Bank of Hawaii now owns 11,092 shares of the industrial products company’s stock valued at $1,505,000 after buying an additional 120 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Middleby by 0.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,780 shares of the industrial products company’s stock valued at $2,277,000 after buying an additional 124 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Middleby by 3.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 3,581 shares of the industrial products company’s stock valued at $486,000 after buying an additional 127 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Middleby by 2.4% during the 2nd quarter. HighTower Advisors LLC now owns 5,546 shares of the industrial products company’s stock valued at $759,000 after buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 95.25% of the company’s stock.

MIDD traded up $0.82 on Friday, hitting $112.54. The company had a trading volume of 133,755 shares, compared to its average volume of 262,064. The company’s fifty day moving average price is $113.42 and its 200 day moving average price is $128.25. Middleby Corp has a 1-year low of $96.65 and a 1-year high of $142.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.10 and a quick ratio of 1.01. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 18.45 and a beta of 1.62.

Middleby (NASDAQ:MIDD) last issued its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.07). The business had revenue of $761.00 million during the quarter, compared to the consensus estimate of $774.13 million. Middleby had a return on equity of 21.17% and a net margin of 11.27%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Middleby Corp will post 6.58 EPS for the current year.

Several equities research analysts recently weighed in on the company. ValuEngine lowered Middleby from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub upgraded Middleby from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Citigroup reduced their target price on Middleby from $138.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Zacks Investment Research upgraded Middleby from a “sell” rating to a “hold” rating and set a $118.00 target price for the company in a report on Wednesday, August 14th. Finally, Buckingham Research set a $153.00 target price on Middleby and gave the stock a “buy” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $140.43.

In other Middleby news, Director Robert A. Nerbonne purchased 450 shares of the company’s stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $113.85 per share, with a total value of $51,232.50. Following the transaction, the director now directly owns 1,282 shares in the company, valued at approximately $145,955.70. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert A. Nerbonne purchased 455 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $111.21 per share, for a total transaction of $50,600.55. Following the completion of the transaction, the director now owns 1,282 shares in the company, valued at $142,571.22. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Middleby Company Profile

The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers foodservice equipment for quick and full-service restaurants, convenience stores, retail outlets, hotels, and other institutions.

See Also: Capital Gains Distribution

Want to see what other hedge funds are holding MIDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Middleby Corp (NASDAQ:MIDD).

Institutional Ownership by Quarter for Middleby (NASDAQ:MIDD)

Receive News & Ratings for Middleby Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Middleby and related companies with MarketBeat.com's FREE daily email newsletter.