Norges Bank Invests $19.29 Million in The Middleby Corporation $MIDD

Norges Bank purchased a new stake in The Middleby Corporation (NASDAQ:MIDD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 133,926 shares of the industrial products company’s stock, valued at approximately $19,285,000. Norges Bank owned 0.26% of Middleby as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Middleby by 59.8% in 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 buying an additional 1,133,931 shares during the period. Earnest Partners LLC grew its holdings in shares of Middleby by 0.6% during the first quarter. Earnest Partners LLC now owns 1,319,757 shares of the industrial products company’s stock valued at $200,577,000 after buying an additional 7,791 shares in the last quarter. Clarkston Capital Partners LLC raised its position in Middleby by 0.6% during the second quarter. Clarkston Capital Partners LLC now owns 692,764 shares of the industrial products company’s stock valued at $99,758,000 after buying an additional 4,204 shares during the period. Franklin Resources Inc. lifted its stake in Middleby by 27.0% in the 2nd quarter. Franklin Resources Inc. now owns 621,794 shares of the industrial products company’s stock worth $89,538,000 after acquiring an additional 132,191 shares in the last quarter. Finally, Epoch Investment Partners Inc. lifted its stake in Middleby by 32.5% in the 1st quarter. Epoch Investment Partners Inc. now owns 578,496 shares of the industrial products company’s stock worth $87,920,000 after acquiring an additional 141,769 shares in the last quarter. Hedge funds and other institutional investors own 98.55% of the company’s stock.

Middleby Stock Up 1.5%

MIDD stock opened at $128.19 on Tuesday. The Middleby Corporation has a 1 year low of $110.82 and a 1 year high of $182.73. The company has a fifty day simple moving average of $125.98 and a 200 day simple moving average of $135.64. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.69. The firm has a market cap of $6.46 billion, a PE ratio of -29.13 and a beta of 1.39.

Middleby (NASDAQ:MIDD) last released its quarterly earnings results on Thursday, November 6th. The industrial products company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.34. The company had revenue of $982.13 million during the quarter, compared to the consensus estimate of $961.21 million. Middleby had a positive return on equity of 14.66% and a negative net margin of 5.22%.The firm’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 EPS. Middleby has set its FY 2025 guidance at 8.990-9.140 EPS and its Q4 2025 guidance at 2.190-2.340 EPS. Sell-side analysts anticipate that The Middleby Corporation will post 9.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MIDD. Weiss Ratings reiterated a “sell (d)” rating on shares of Middleby in a report on Monday, December 1st. Zacks Research raised shares of Middleby from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen upgraded shares of Middleby from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. raised shares of Middleby from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $140.00 to $125.00 in a research note on Friday, November 7th. Finally, Barclays set a $168.00 price target on shares of Middleby and gave the company an “overweight” rating in a report on Tuesday, November 11th. Five research 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’s stock. According to data from MarketBeat.com, Middleby currently has an average rating of “Hold” and a consensus target price of $161.14.

Middleby Company 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.