Boston Trust Walden Corp Raises Stock Holdings in Middleby Corp (NASDAQ:MIDD)

Boston Trust Walden Corp increased its stake in shares of Middleby Corp (NASDAQ:MIDD) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,216 shares of the industrial products company’s stock after purchasing an additional 9,514 shares during the quarter. Boston Trust Walden Corp’s holdings in Middleby were worth $14,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Royal Bank of Canada increased its position in Middleby by 2.4% during the 2nd quarter. Royal Bank of Canada now owns 94,486 shares of the industrial products company’s stock valued at $12,821,000 after buying an additional 2,189 shares in the last quarter. Andra AP fonden increased its position in Middleby by 77.9% during the 2nd quarter. Andra AP fonden now owns 20,100 shares of the industrial products company’s stock valued at $2,728,000 after buying an additional 8,800 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. increased its position in Middleby by 2.2% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 37,875 shares of the industrial products company’s stock valued at $4,428,000 after buying an additional 810 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Middleby by 33.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 354,060 shares of the industrial products company’s stock valued at $48,046,000 after buying an additional 88,590 shares in the last quarter. Finally, Aperio Group LLC increased its position in Middleby by 1.6% during the 2nd quarter. Aperio Group LLC now owns 16,105 shares of the industrial products company’s stock valued at $2,185,000 after buying an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 95.24% of the company’s stock.

In related news, Director Robert A. Nerbonne bought 450 shares of the stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $113.85 per share, for a total transaction of $51,232.50. Following the completion of the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at $145,955.70. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Nerbonne bought 455 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $111.21 per share, for a total transaction of $50,600.55. Following the purchase, the director now directly owns 1,282 shares of the company’s stock, valued at $142,571.22. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Shares of MIDD stock opened at $119.92 on Wednesday. The stock’s 50-day simple moving average is $115.04 and its 200-day simple moving average is $126.80. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.01 and a current ratio of 2.10. The firm has a market capitalization of $6.52 billion, a PE ratio of 19.66 and a beta of 1.62. Middleby Corp has a fifty-two week low of $96.65 and a fifty-two week high of $142.98.

Middleby (NASDAQ:MIDD) last announced its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.07). The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $774.13 million. Middleby had a net margin of 11.27% and a return on equity of 21.17%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Sell-side analysts forecast that Middleby Corp will post 6.56 earnings per share for the current year.

Several brokerages recently issued reports on MIDD. Zacks Investment Research lowered Middleby from a “hold” rating to a “sell” rating and set a $119.00 target price on the stock. in a research report on Monday, October 14th. Citigroup cut their price objective on Middleby from $138.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. BidaskClub lowered Middleby from a “hold” rating to a “sell” rating in a report on Wednesday, October 9th. ValuEngine lowered Middleby from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Buckingham Research set a $153.00 price objective on Middleby and gave the company a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $140.57.

About Middleby

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.

Featured Article: Most Volatile Stocks – What Investors Need to Know to Maximize ROI

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.