The Middleby Corp. (MIDD) Position Maintained by Huntington National Bank
Huntington National Bank continued to hold its position in The Middleby Corp. (NASDAQ:MIDD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,255 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in The Middleby Corp. were worth $231,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in MIDD. Fox Run Management L.L.C. bought a new position in The Middleby Corp. during the second quarter worth about $277,000. AXA bought a new position in The Middleby Corp. during the first quarter worth about $505,000. First National Bank of Hutchinson bought a new position in The Middleby Corp. during the second quarter worth about $542,000. A.R.T. Advisors LLC bought a new position in The Middleby Corp. during the first quarter worth about $583,000. Finally, Creative Planning raised its position in The Middleby Corp. by 36.4% in the second quarter. Creative Planning now owns 5,460 shares of the company’s stock worth $629,000 after buying an additional 1,458 shares in the last quarter. 95.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Middleby Corp. (NASDAQ:MIDD) traded up 0.25% during midday trading on Friday, reaching $123.62. The company’s stock had a trading volume of 312,197 shares. The Middleby Corp. has a 1-year low of $79.11 and a 1-year high of $140.98. The stock has a 50 day moving average of $126.55 and a 200-day moving average of $117.48. The company has a market capitalization of $7.11 billion, a P/E ratio of 31.14 and a beta of 1.48.
The Middleby Corp. (NASDAQ:MIDD) last issued its earnings results on Wednesday, August 10th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.17. The Middleby Corp. had a net margin of 10.89% and a return on equity of 20.50%. On average, equities research analysts anticipate that The Middleby Corp. will post $4.80 earnings per share for the current year.
A number of equities analysts recently issued reports on MIDD shares. Wellington Shields raised The Middleby Corp. from a “hold” rating to an “accumulate” rating in a report on Friday, September 9th. Zacks Investment Research raised The Middleby Corp. from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, August 16th. Finally, Deutsche Bank AG initiated coverage on The Middleby Corp. in a report on Tuesday, September 6th. They set a “hold” rating and a $123.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.80.
About The Middleby Corp.
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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