Impax Asset Management Group plc Boosts Holdings in The Middleby Corporation $MIDD

Impax Asset Management Group plc lifted its stake in shares of The Middleby Corporation (NASDAQ:MIDD) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,987 shares of the industrial products company’s stock after acquiring an additional 18,491 shares during the quarter. Impax Asset Management Group plc owned 0.28% of Middleby worth $21,742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Middleby by 59.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,029,484 shares of the industrial products company’s stock worth $460,422,000 after purchasing an additional 1,133,931 shares in the last quarter. Earnest Partners LLC increased its position in Middleby by 0.6% in the 1st quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company’s stock valued at $200,577,000 after acquiring an additional 7,791 shares during the period. Clarkston Capital Partners LLC lifted its position in Middleby by 1.5% during the 1st quarter. Clarkston Capital Partners LLC now owns 688,560 shares of the industrial products company’s stock worth $104,647,000 after acquiring an additional 10,310 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Middleby by 32.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 578,496 shares of the industrial products company’s stock valued at $87,920,000 after purchasing an additional 141,769 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Middleby by 2.2% in the first quarter. Northern Trust Corp now owns 503,045 shares of the industrial products company’s stock valued at $76,453,000 after purchasing an additional 10,780 shares during the period. Institutional investors and hedge funds own 98.55% of the company’s stock.

Middleby Stock Up 0.9%

Shares of NASDAQ MIDD opened at $124.50 on Thursday. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 15.84 and a beta of 1.57. The Middleby Corporation has a 52 week low of $114.57 and a 52 week high of $182.73. The firm has a 50-day moving average price of $132.43 and a 200 day moving average price of $138.65. The company has a quick ratio of 1.56, a current ratio of 2.57 and a debt-to-equity ratio of 0.64.

Middleby (NASDAQ:MIDD) last issued its earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.34. Middleby had a net margin of 11.06% and a return on equity of 14.14%. The company had revenue of $982.13 million for the quarter, compared to analyst estimates of $961.21 million. During the same period in the prior year, the business posted $2.33 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS. Q4 2025 guidance at 2.190-2.340 EPS. Equities research analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Middleby from a “hold (c)” rating to a “sell (d)” rating in a research report on Monday. Barclays set a $168.00 target price on shares of Middleby and gave the company an “overweight” rating in a report on Tuesday. Wolfe Research set a $163.00 price target on shares of Middleby and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Canaccord Genuity Group reduced their price objective on shares of Middleby from $175.00 to $171.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. raised Middleby from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $140.00 to $125.00 in a report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $160.57.

Middleby Profile

The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing.