Arcadia Investment Management Corpmi Lowers stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Arcadia Investment Management Corpmi reduced its stake in Middleby Corp by 1.62% during the most recent quarter end. The investment management company now holds a total of 36,515 shares of Middleby Corp which is valued at $4,234,645 after selling 600 shares in Middleby Corp , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Middleby Corp makes up approximately 1.34% of Arcadia Investment Management Corpmi’s portfolio.

Other Hedge Funds, Including , Fruth Investment Management reduced its stake in MIDD by selling 300 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 26,550 shares of MIDD which is valued at $3,092,013. Middleby Corp makes up approx 1.46% of Fruth Investment Management’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in MIDD by selling 156 shares or 40.21% in the most recent quarter. The Hedge Fund company now holds 232 shares of MIDD which is valued at $26,794.

Middleby Corp closed down -0.18 points or -0.15% at $115.97 with 3,34,529 shares getting traded on Monday. Post opening the session at $117.48, the shares hit an intraday low of $115.48 and an intraday high of $117.48 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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