Hartline Investment Corp buys $7.9 Million stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Hartline Investment Corp scooped up 4,647 additional shares in Middleby Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 67,403 shares of Middleby Corp which is valued at $7.9 Million.Middleby Corp makes up approximately 2.93% of Hartline Investment Corp’s portfolio.

Other Hedge Funds, Including , South Texas Money Management Ltd boosted its stake in MIDD in the latest quarter, The investment management firm added 13,304 additional shares and now holds a total of 96,733 shares of Middleby Corp which is valued at $11.4 Million. Middleby Corp makes up approx 0.66% of South Texas Money Management Ltd’s portfolio.Schwab Charles Investment Management Inc boosted its stake in MIDD in the latest quarter, The investment management firm added 4,581 additional shares and now holds a total of 143,914 shares of Middleby Corp which is valued at $15.5 Million. Middleby Corp makes up approx 0.02% of Schwab Charles Investment Management Inc’s portfolio. Wellington Shields Capital Management sold out all of its stake in MIDD during the most recent quarter. The investment firm sold 2,925 shares of MIDD which is valued $315,900. Checchi Capital Advisers added MIDD to its portfolio by purchasing 352 company shares during the most recent quarter which is valued at $38,016. Middleby Corp makes up approx 0.01% of Checchi Capital Advisers’s portfolio. Rockefeller Financial Services Inc sold out all of its stake in MIDD during the most recent quarter. The investment firm sold 406 shares of MIDD which is valued $44,514.

Middleby Corp opened for trading at $117.92 and hit $118.84 on the upside on Monday, eventually ending the session at $118.24, with a gain of 0.62% or 0.73 points. The heightened volatility saw the trading volume jump to 4,74,528 shares. Company has a market cap of $6,804 M.

On the company’s financial health, Middleby Corp reported $1.04 EPS for the quarter, based on the information available during the earnings call on Nov 10, 2015. Analyst had a consensus estimate of $1.04. The company had revenue of $449.00 million for the quarter, compared to analysts expectations of $446.45 million. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS.

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 has a portfolio of cooking and warming equipment; the Food Processing Equipment Group offers a portfolio of processing solutions for customers producing pre-cooked meat products and the Residential Kitchen Equipment Group manufactures sells and distributes kitchen equipment for the residential market. The equipment are used in all types of commercial restaurants and institutional kitchens; food preparation cooking baking chilling and packaging equipment for food processing operations and kitchen equipment including ranges ovens refrigerators ventilation and dishwashers used in the residential market. Its brands include Anets Beech Blodgett Britannia CTX Cozzini Danfotech Drake Brigade Jade and TurboChef among others.

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