Carnegie Capital Asset Management LLC Grows Stock Holdings in Middleby Corp (NASDAQ:MIDD)

Carnegie Capital Asset Management LLC increased its position in Middleby Corp (NASDAQ:MIDD) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,331 shares of the industrial products company’s stock after buying an additional 395 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Middleby were worth $246,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Fiera Capital Corp raised its position in shares of Middleby by 4.1% in the first quarter. Fiera Capital Corp now owns 3,500,742 shares of the industrial products company’s stock valued at $199,124,000 after buying an additional 137,524 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Middleby by 41.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,552 shares of the industrial products company’s stock valued at $487,000 after buying an additional 2,516 shares during the last quarter. Swiss National Bank raised its position in shares of Middleby by 24.1% in the first quarter. Swiss National Bank now owns 217,849 shares of the industrial products company’s stock valued at $12,391,000 after buying an additional 42,300 shares during the last quarter. Trillium Asset Management LLC raised its position in shares of Middleby by 2.3% in the first quarter. Trillium Asset Management LLC now owns 100,550 shares of the industrial products company’s stock valued at $5,719,000 after buying an additional 2,261 shares during the last quarter. Finally, Tobam purchased a new stake in Middleby in the first quarter valued at approximately $2,067,000. 98.27% of the stock is owned by institutional investors and hedge funds.

MIDD has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Middleby from a “hold” rating to a “sell” rating and set a $57.00 target price for the company. in a report on Tuesday, May 5th. ValuEngine downgraded shares of Middleby from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. BidaskClub upgraded shares of Middleby from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup boosted their price objective on shares of Middleby from $54.00 to $64.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.33.

MIDD opened at $63.11 on Friday. The company has a market cap of $3.54 billion, a P/E ratio of 9.25 and a beta of 1.55. The company has a 50 day moving average of $55.59 and a two-hundred day moving average of $92.85. The company has a quick ratio of 1.46, a current ratio of 2.48 and a debt-to-equity ratio of 1.15. Middleby Corp has a 52-week low of $41.73 and a 52-week high of $142.98.

Middleby (NASDAQ:MIDD) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.07. The business had revenue of $677.50 million during the quarter, compared to the consensus estimate of $677.37 million. Middleby had a net margin of 12.10% and a return on equity of 20.40%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. Research analysts anticipate that Middleby Corp will post 3.93 earnings per share for the current year.

In other news, Director Robert A. Nerbonne bought 1,750 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $56.76 per share, for a total transaction of $99,330.00. Also, Director Robert A. Nerbonne bought 465 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was purchased at an average price of $108.94 per share, with a total value of $50,657.10. Following the completion of the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at approximately $139,661.08. The disclosure for this purchase can be found here. Insiders bought 14,325 shares of company stock valued at $1,034,381 over the last 90 days. Insiders own 1.98% of the company’s stock.

Middleby 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.

Read More: Inverted Yield Curve

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.