Seizert Capital Partners LLC Buys New Stake in The Middleby Corporation (MIDD)

Seizert Capital Partners LLC acquired a new position in shares of The Middleby Corporation (NASDAQ:MIDD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 300,625 shares of the industrial products company’s stock, valued at approximately $38,531,000. The Middleby Corporation makes up approximately 1.4% of Seizert Capital Partners LLC’s investment portfolio, making the stock its 28th largest position. Seizert Capital Partners LLC owned about 0.52% of The Middleby Corporation as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of MIDD. Koch Industries Inc. increased its holdings in The Middleby Corporation by 58,978.1% during the 2nd quarter. Koch Industries Inc. now owns 884,399 shares of the industrial products company’s stock worth $877,000 after purchasing an additional 882,902 shares in the last quarter. Janus Henderson Group PLC increased its holdings in The Middleby Corporation by 144.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,352,865 shares of the industrial products company’s stock worth $164,386,000 after purchasing an additional 800,527 shares in the last quarter. William Blair Investment Management LLC increased its holdings in The Middleby Corporation by 40.4% during the 2nd quarter. William Blair Investment Management LLC now owns 1,809,903 shares of the industrial products company’s stock worth $219,921,000 after purchasing an additional 520,906 shares in the last quarter. FMR LLC increased its holdings in The Middleby Corporation by 509.6% during the 2nd quarter. FMR LLC now owns 582,538 shares of the industrial products company’s stock worth $70,784,000 after purchasing an additional 486,978 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in The Middleby Corporation by 19.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,859,086 shares of the industrial products company’s stock worth $347,407,000 after purchasing an additional 474,506 shares in the last quarter. 94.33% of the stock is owned by hedge funds and other institutional investors.

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In related news, Director Gordon Obrien sold 5,600 shares of the firm’s 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 sale, the director now owns 11,050 shares of the company’s stock, valued at $1,341,580.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John R. Miller III sold 8,500 shares of the firm’s 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 sale, the director now directly owns 16,000 shares of the company’s stock, valued at approximately $1,896,000. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

The Middleby Corporation (NASDAQ:MIDD) last announced its earnings results on Wednesday, August 9th. The industrial products company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $579.34 million during the quarter, compared to the consensus estimate of $587.49 million.

A number of analysts have commented on the company. BidaskClub lowered The Middleby Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Robert W. Baird decreased their price objective on The Middleby Corporation from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Friday, August 11th. BMO Capital Markets reissued a “buy” rating and set a $150.00 price objective on shares of The Middleby Corporation in a report on Friday, August 11th. Wellington Shields raised The Middleby Corporation from a “hold” rating to a “gradually accumulate” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research raised The Middleby Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $142.50.

The Middleby Corporation 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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