Hartline Investment Corp Lowers stake in Middleby Corp (MIDD)

Middleby Corp (MIDD) : Hartline Investment Corp reduced its stake in Middleby Corp by 13.2% during the most recent quarter end. The investment management company now holds a total of 58,508 shares of Middleby Corp which is valued at $7,638,219 after selling 8,895 shares in Middleby Corp , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Middleby Corp makes up approximately 2.66% of Hartline Investment Corp’s portfolio.

Other Hedge Funds, Including , Weybosset Research Management reduced its stake in MIDD by selling 48 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 42,074 shares of MIDD which is valued at $5,064,868. Middleby Corp makes up approx 3.73% of Weybosset Research Management’s portfolio.Strs Ohio reduced its stake in MIDD by selling 357,540 shares or 52.96% in the most recent quarter. The Hedge Fund company now holds 317,540 shares of MIDD which is valued at $37,272,845. Middleby Corp makes up approx 0.16% of Strs Ohio’s portfolio.Checchi Capital Advisers reduced its stake in MIDD by selling 6 shares or 1.7% in the most recent quarter. The Hedge Fund company now holds 346 shares of MIDD which is valued at $40,883. Middleby Corp makes up approx 0.01% of Checchi Capital Advisers’s portfolio.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.

Middleby Corp opened for trading at $128.49 and hit $129.09 on the upside on Friday, eventually ending the session at $128.87, with a gain of 0.08% or 0.1 points. The heightened volatility saw the trading volume jump to 2,18,491 shares. Company has a market cap of $7,415 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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