Trade Report: The Whittier Trust Co. Boosts Stake in The Middleby Corp. (MIDD)

The Whittier Trust Co. Boosts Stake in The Middleby Corp. (MIDD)

Whittier Trust Co. boosted its position in The Middleby Corp. (NASDAQ:MIDD) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 14,436 shares of the company’s stock after buying an additional 175 shares during the period. Whittier Trust Co.’s holdings in The Middleby Corp. were worth $1,664,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC acquired a new stake in shares of The Middleby Corp. during the second quarter worth $260,000. Emerald Mutual Fund Advisers Trust raised its stake in shares of The Middleby Corp. by 2.4% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,355 shares of the company’s stock worth $271,000 after buying an additional 56 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of The Middleby Corp. during the second quarter worth $277,000. AXA acquired a new stake in shares of The Middleby Corp. during the first quarter worth $505,000. Finally, First National Bank of Hutchinson acquired a new stake in shares of The Middleby Corp. during the second quarter worth $542,000. Hedge funds and other institutional investors own 95.10% of the company’s stock.

Shares of The Middleby Corp. (NASDAQ:MIDD) traded down 0.37% during mid-day trading on Friday, reaching $120.06. The company had a trading volume of 315,254 shares. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 30.24 and a beta of 1.45. The firm’s 50-day moving average price is $125.48 and its 200 day moving average price is $118.17. The Middleby Corp. has a 52-week low of $79.11 and a 52-week high of $140.98.

The Middleby Corp. (NASDAQ:MIDD) last released its earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a return on equity of 20.50% and a net margin of 10.89%. Equities analysts expect that The Middleby Corp. will post $4.80 EPS for the current year.

A number of analysts recently commented on MIDD shares. Deutsche Bank AG started coverage on The Middleby Corp. in a research report on Tuesday, September 6th. They issued a “hold” rating and a $123.00 price objective for the company. Zacks Investment Research lowered The Middleby Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Wellington Shields upgraded The Middleby Corp. from a “hold” rating to an “accumulate” rating in a research report on Friday, September 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $126.80.

The Middleby Corp. Company Profile

The Middleby Corporation (Middleby) 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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